Tag Archives: Coldwell banker nester realty
4 Dec

Few people can buy a home for cash. According to the National Association of REALTORS® (NAR), nearly nine out of 10 buyers of Belleville IL homes finance their purchase, which means that nearly all buyers — especially first-time purchasers — require a loan.  The real issue with real estate financing is not getting a loan (almost anyone mortgagewilling to pay lofty interest rates can find a mortgage). Instead, the idea is to get the loan that’s right for you — the mortgage with the lowest cost and best terms.

Realtors routinely urge prospective buyers to get pre-approved for a loan before they even begin looking at Belleville IL homes. They also stress the importance of obtaining a letter of pre-approval rather than of pre-qualification.  Although many homebuyers use these two terms interchangeably, there are significant differences between the two.  Simply stated, pre-qualification lets sellers know that a prospective buyer of their Belleville IL home is likely to qualify for a loan, whereas pre-approval, although not an absolute guarantee, indicates that a loan officer has determined a borrower is credit-worthy and financially able to qualify for a certain loan.

The advantages of searching for a Belleville IL home with evidence of pre-approval in hand are many.  In essence, they include the following:

  • Mortgage preapproval is going to tell you exactly how much money you can borrow. This way, you will know how much your mortgage payment is going to be ahead of time.
  • You won’t waste time (or be sorely disappointed) by looking at houses you can’t afford.
  • Sellers and Realtors will take you seriously.  They are much more comfortable with the certainty that you can obtain a loan (and that the deal won’t fall through), and thus may be more willing to negotiate.
  • Once you find a home, the mortgage process can proceed more quickly because your lender will already have.

Although lender requirements for pre-approval may vary somewhat, be prepared to supply the following information:

  • Purchase Agreement
  • Social Security Number and Date of Birth
  • W-2/1040 Forms
  • Recent pay stubs
  • Bank account statements
  • Credit card statements
  • Debts and liabilities
  • Mortgage or rental histories
  • Investment properties
  • Employers
  • Asset statements
  • Personal property
  • Current and previous statements

Supplying all this information may seem like a time-consuming process, but in the end of your house-hunting journey, you’ll be glad you did it!

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Holly Norton offers unparalleled service in the Belleville IL real estate market. Holly assists buyers looking for Belleville IL real estate for sale and aggressively markets Belleville homes for sale. Holly serves the entire Saint Clair County Illinois real estate market including the surrounding communities such as Fairview Heights, Belleville, Swansea, Shiloh, O’Fallon, Freeburg, Smithton, Mascoutah and Millstdat area.

 

 

Everything You Need To Know About Buying a Saint Clair County IL Home – Part IV

24 Jul

You’re getting close to the finish line and will soon be the owner of your first home. Just a few more steps to go…

saint clair county il home1. Insurance

Adequate homeowner’s insurance is a requirement of all lenders, and it is certainly in your best interests to protect the investment you’ll be making in your Saint Clair County IL home. To find the policy that is right for you, you should shop around for the best value. Check online (some companies offer a discount of 30%-40% if you buy online) for quotes from at least three reputable agencies. Check to see if you need flood insurance. Know the replacement value of your home, keeping in mind inflation increases.

2. Final Preparations

As the settlement date approaches, check with your lender to make certain all necessary documents are in order and are being prepared. You will also want to set up utility services in your name. Ask your real estate agent about the type of payment and amount to bring to the closing. It is a good idea to bring all paperwork associated with the purchase of your Saint Clair County IL home to the closing.

3. The walk-through

You are entitled to an inspection of the property before closing. Make sure all conveyed items are present, there is no new damage, agreed-to repairs have been completed, and the home is in good working order. Your realtor will have a checklist. Items to be checked out are numerous and include both the exterior of the home as well as the interior The house should be empty, except for conveyed items, and “broom-swept“ clean. If any problems arise, your realtor will request repairs or monetary compensation from the seller.

4. And finally…the closing!

You will receive a settlement statement listing all the costs you’ll be required to pay at the table. You’ll be required to bring a certified check and a photo ID with you. The attorney will briefly explain each document you are asked to sign. Don’t be afraid to ask questions or take time to read a particular paper. The attorney will also arrange for the collection and disbursement of all funds

AND, after all these steps have been completed, you will be handed the keys to your first ­­­­­­­Saint Clair County IL home! Congratulations!

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Holly Norton offers unparalleled service in the Saint Clair County IL real estate market. Holly assists buyers looking for Saint Clair County IL real estate for sale and aggressively markets Saint Clair homes for sale. Holly serves the entire Saint Clair County Illinois real estate market including the surrounding communities such as Fairview Heights, Belleville, Swansea, Shiloh, O’Fallon, Freeburg, Smithton, Mascoutah and Millstdat area.

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Saint Clair County, IL Real Estate For Sale: 7 Juanita Place Belleville, IL 62223

6 Jul

Charming cottage located in desirable Juanita Place is ready for new owners. Come on in and ponder a moment in the beautiful sunroom with terrazzo brick flooring and sun-drenched views you are sure to feel right at home. Meander your way through into the living room with hardwood floors and a cozy gas fireplace entertaining will be delightful. The dining room is oozing with character and all set for a delightful dinner party. Fantastic kitchen space boasts new counter-tops, an abundance of cabinet space and a serving window to the dining room. Family and friends can be the first to sample your culinary masterpieces in the sunny breakfast nook. A dreamy master suite features an 8 x 6 walk-in closet with organizer, a soothing ceiling fan and hardwood floors. The secondary bedroom with two closets is sized generously for overnight guests. A lovely bathroom features a new raised vanity, new flooring, new shower surround and an extra deep tub. Grab your favorite beverage and relax on your private patio under mature trees. One could happily linger here all day. Pack your backs and come on over. We are sure you will want to stay.
Holly Norton has distinguished herself as a leader in the Saint Clair County, IL real estate market. Holly assists buyers looking for Saint Clair County, IL real estate for sale and aggressively markets Saint Clair County homes for sale.
Holly brings with her a keen eye for the details of buying or selling a Saint Clair County, IL home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, Focused on the Future – Holly will help make the most of your Saint Clair County, IL real estate experience. Give her a call today, 618-779-9966, and discover the difference she can make during your family’s move.
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