CENTURY 21 SCHNEIDER Realty is a full service real estate company that focuses on residential property. Whether you are looking for your first rental, exploring buying a co-op, condo or single family home, we pride ourselves on offering home buyers the full range of services they need, ensuring that their real estate transaction is handled with excellent attention and expertise.
HOME BUYERS TIPS: Buying any piece of property is a complex financial transaction. Before you start looking, you should be aware of a few demands on your pocketboook that could arise:
Review your credit report. Are all your debts paid on time? Cancel the credit cards that you never use. While you may not have a balance due, lenders will consider them as potential debt when qualifying you for a loan.
Don't purchase any big ticket items, such as a car, before going out for a mortgage. Wait until you close on your property.
Make sure that you have enough cash on hand. Traditionally you need 10-20% of the purchase price as a down payment, plus bank closing costs that will run 2-4% of the amount you are borrowing.
Be prepared to set up an escrow account at closing. This could be as much as 8 month real estate taxes and a couple of months of homeowners insurance.
Don't forget to budget up to $1500 for an attorney to handle your real estate transaction.