Dina Smith
Brian Schweiker & Associates
What should first-time homebuyers know if a home they are interested in has flooded before?
It all depends on what is meant by flooded. The flooding could have merely been some water accumulation on the property or it could be water intrusion into the home. Your Realtor can request the details and what remediation was necessary to put the home right again. The seller is required to provide all information. There are mold remediation companies that will clean, sanitize, and treat the home as a preventative measure. They will also provide a mold remediation certificate that guarantees the home is mold-free. It is important to note that if the home lies in a flood zone, your homeowner’s insurance company may require flood insurance.
What should first-time homebuyers consider financially when deciding on a home?
I recommend that you initiate the loan process prior to the home search. This will give you a better picture of what you can expect in terms of costs as well as the price range that you can afford. It is also helpful to see your credit report. If there are any mistakes or issues that need resolving, you will be able to get that handled now instead of later when time can be an issue. Don’t be afraid to talk to more than one lender. Shop around. You can compare rates and loan programs and choose a lender that you feel confident with.
What are the benefits for first-time homebuyers who use a Realtor when looking for a home?
Having a Realtor to guide you through the homebuying process can really reduce your stress and protect your interests. The Realtor will listen carefully to your needs and wants to successfully find you a property that works best for you. A Realtor is an experienced negotiator that will work to get you the best sales price, recommend lenders, coordinate and oversee inspections, negotiate repairs, monitor your loan commitment and finalize all loose ends for the closing. Your Realtor is there to answer your questions and explain things every step of the way. Communication is extremely important to a successful closing for all parties.
