Buying A Home
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Real Estate Agent Question

I am starting the process of buying our first home. I spoke with a real estate agent last night (she was a referral from the loan agent I am using) & she never gave me a time frame of when she'd start to send me listings. I assumed it would be soon, but I really have no clue what a typical time frame might be? I tried to keep my options fairly open in terms of style home and basic requirements. WDYT? 
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Re: Real Estate Agent Question

  • How far out are you from when you told her you wanted to buy? I would also assume "soon", but it might be good to follow up by email if you have hers and give her a few you'd be interested in seeing. We went out with our agent every weekend, but tried to be sensitive to her schedule and went to open houses for any of the properties we were interested in if we could.

    I'm not sure how open you were with your must haves, but for your own sanity I would err on the side of giving her more direction over less. She'll probably get to know you better your first time out, but I think it makes it less frustrating for everyone if expectations are clear.

  • We'd like to move out before our lease is up in July. We gave her the neighborhood we want, # of bedrooms, # of bathrooms, approx. square footage, updated bathrooms/kitchen, garage, not a lot of outside maintenance like a pool, etc. I don't see the need to specify too many cosmetic items as they can be changed later.
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  • TD, our lease is up July 7th.  We just contacted a realtor yesterday (after getting preapproved from our lender) and she is sending us listings to review next week and we are beginning our house search the last week of March.  It takes 30 days to close a loan so if we find a house on April 1st, we can close by May 1st and not owe a mortgage payment until July, so we won't have double rent/mortgage.  I'd definitely talk to your realtor about getting started soon!  Don't worry about bothering her - they are there to help you =)
  • How come you won't have to pay your mortgage until July? Sorry, I am new to all of this!
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  • Mortgage payments are like the reverse of rent payments.  For example, if you're paying rent, you'd pay on June 1 for the month of June.  Rent is the reverse.  You'd pay on July 1 for the month of June.  So, you would pay after the first full month you're in your new house.
    BabyFetus Ticker
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