Explanation:
An office that exclusively serves purchasers and does not sell properties employs exclusive buyer agents (EBAs). A single agency buyer agent (SA) works for a firm that handles both buyer and seller representation, but not simultaneously. A conventional buyer agent (BA) may operate as both a buyer and a seller's agent in a single transaction.
Explanation:
Due to the largest interest deduction, the 30-year period offers the highest tax benefit.
Explanation:
Check your credit score well ahead of the home-shopping process. If you discover an error, you'll have plenty of time to go through the official process of correcting it.
Explanation:
Make sure your buyer's agency agreement contains a "release clause" in case you decide you don't like your agent after all. You can break things off in the future without any issues if you do this.
Explanation:
Unfortunately, short of pleading with the seller, there isn't much you can do. Verbal agreements are not legally enforceable, and your options for legal action are limited.
Explanation:
It's recommended to have your loan pre-approved before looking for a home. Pre-qualification is free, but it's also frequently inaccurate and very unofficial. Pre-approval indicates that a lender has conducted a more thorough analysis of your credit and financial status, which will give the seller the impression that you are a serious buyer.
Explanation:
Amortization is the process of repaying a loan's principle in small, recurring installments that slowly reduce the principal.
