Applying for new credit
•Don’t apply every time you see an offer. Getting too much credit too quickly can hurt your credit profile.
•Don’t build your credit profile through trial and error. Consult an expert such as a credit coach to develop a plan based on your short- and long-term needs.
•Print clearly when applying for credit. If your application information is entered inaccurately it can create variations of reported information on your credit report.
•Consistently use your complete name without any variations. Providing complete, accurate and consistent identification on your credit applications helps set up your credit history correctly from the beginning. It also minimizes the chance that your credit file will be incomplete or mixed with another consumer’s file.
Once you have credit
•Pay your bills on time. Most lenders look at the most recent information on a report. So if you’ve paid your accounts on time for the last two to three years, the lender may weigh that more heavily than a series of late payments from five years ago.
•Set up a budget, and follow it. This is so much easier said than done! A credit coach can help provide you guidance on creating and managing a budget based on current income and debt as well as your short- and long-term credit needs. In the age of self-help and empowerment, managing your finances should top your list. The key is not to over-extend yourself.
•Develop and follow a plan for the type of credit you have, how you use it, and the type of credit you may need in the near future.
•Review your credit report periodically throughout each year.
•At least 60 to 90 days before making a major purchase (such as a home, car or large household goods) you should prepare by reviewing your credit profile to help ensure it is optimized.
•Continual evaluation of your credit profile is necessary to ensure you are not paying unnecessary interest expenses (i.e., you could qualify for lower rates and better terms). The average homeowners spend an estimated $300,000 in their lifetimes on unnecessary interest expenses.
•Ensure no fraudulent or erroneous activity has occurred related to credit profile. An estimated one in eleven families was a victim of identity theft last year.
Getting help
A personal credit coach can be incredibly valuable whether you understand credit or not. Having a credit coach is similar to an asset manager except it’s for your liabilities. A coach will work closely with you to explain your credit profile, provide you guidance with ways you can more effectively manage it, and can help you evaluate it on an ongoing basis. Changes continually occur for all of us. Jobs change, unforeseen expenses happen and so on. If you begin to fall behind on your payments.

•Contact your lenders. Ignoring the situation will only add to your problems. Many lenders will work with you to set up a different payment schedule or interest rate. It never hurts to ask.
•Pay your bills when they’re due. If you have an overdue bill, unpaid debt, tax lien or judgment, pay it off. You may find it easier to pay one affordable consolidation loan rather than several separate accounts. Your credit coach can help identify what options may be available to you.
•Stop using credit, if possible, until your finances are under control. Consider going to cash purchases only based on your budget. This will STOP the financial bleeding while you pull your credit management plan back into place.
•Look to professionals like the ApprovalGUARD Service. Your credit coach is experienced in explaining your credit and indentifying ways to optimize and manage debt.
•AVOID credit repair agencies. “If it’s too good to be true then it often is!” Most credit repair agencies typically charge you high prices to artificially “fix” your credit. This unfortunately often amounts to “band aid” work that manipulates loopholes in the system and often results in the credit issue returning to your credit report within months after it was supposedly fixed. If you have inaccurate information on your report, your ApprovalGUARD credit coach can help you identify it and specifically provide you with the proper methods for getting it addressed.
It’s important to note that The Credit Repair Organization Act is a federal law that prohibits credit repair clinics from taking a consumer’s money until they have fully completed the services they promised. It also requires such firms to provide consumers with a written contract stating all the services to be provided and the terms and conditions of payment. Consumers also have three days to withdraw from the contract.

The ApprovalGUARD Service – Is the first and only service of its kind. Each ApprovalGUARD customer is assigned a personal credit coach to help them understand, evaluate and optimize their credit and debt profiles. The ApprovalGUARD Service additionally provides each Full Service customer with credit reports, credit scores, continual informative credit tips and education, and tools to more effectively manage and analyze their credit and debt profiles. Go to www.ApprovalGUARD.com and use the promotion code: REMAX1 for your free 30 day, no obligation trial.

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Free home inspection from Pat Taylor

This information is from a joint publication of the North Carolina Home Inspector Licensure Board and the North Carolina Real Estate Commission designed to give consumers a better understanding of the home inspection process. What a home inspection is, who can perform an inspection and what to expect. If you have further questions regarding home inspections and Home Inspectors, you should contact the North Carolina Home Inspector Licensure Board, 322 Chapanoke Road, Suite 200, Raleigh, NC 27603 919/662-4480.

Q:What is a home inspection?
A: It is an evaluation of the visible and accessible systems and components of a home (plumbing system, roof, etc.) and is intended to give the client (usually a homebuyer) a better understanding of their condition. It is also important to know what a home inspection is not! It is not an appraisal of the property’s value; nor should you expect it to address the cost of repairs. It does not guarantee that the home complies with local building codes (which are subject to periodic change) or protect you in the event an item inspected fails in the future. [Note. Warranties can be purchased to cover many items] Nor should it be considered a ‘technically exhaustive” evaluation, but rather an evaluation of the property on the day it is inspected, taking into consideration normal wear and tear.

Q:Can anyone perform a home inspection?
A: No. Only persons licensed by the North Carolina Home Inspector Licensure Board are permitted to perform home inspections for compensation. To qualify for licensure, they must satisfy certain education and experience requirements and pass a state licensing examination. Their inspections must be conducted in accordance with the Board’s Standards of Practice and Code of Ethics.

Q: Why should I have the home inspected?
A: Most homebuyers lack the knowledge, skill and emotional detachment needed to inspect homes themselves. By using the servicers of a licensed Home Inspector, they can gain a better understanding of the condition of the property, especially whether any items do not “function as intended” or “adversely affect the habitability of the dwelling” or “warrant further investigation” by a person who specializes in the item in question.

Q: In my home purchase I have chosen to sign the standard Offer to Purchase and Contract* form which many real estate and legal professionals use. It states that I have the right to have the home inspected and the right to request that the seller repair identified
problems with the home.

Q: Will the home inspection identify all of these problems?

A: Yes and No. Home Inspectors typically evaluate structural components (floors, walls, roofs, chimneys, foundations, etc.), Mechanical systems (plumbing, electrical, heating/air conditioning installed appliances and other major components of the property.

The Home Inspector Licensure Board’s Standards of Practice do not require Home Inspectors to report on: wood-destroying insects, environmental contamination, pools and spas, detached structures d certain other items listed in the Offer to Purchase id Contract form. Always ask the Home Inspector if he covers all the things which are important to you. If not, it is your responsibility to arrange for an inspection of these items by the appropriate professionals. For a description of the services to be provided by the Home Inspector (and their cost),you should read carefully the written contract which Home Inspector must give you and which you must sign before the Home Inspection can be performed.

Q: How do I request a home inspection, and who will pay for it?

You can arrange for the home inspection or your real estate agent to assist you. Unless otherwise agreed, you will be responsible for cost of the home inspection and any subsequent actions. If the inspection is to be performed after you have signed the purchase contract, be sure to schedule inspection as soon as possible to allow adequate time for any repairs to be performed.

Q:Should I be present when the home inspection is performed?
A: Whenever possible, you should be present. The inspector can review with you the results of the inspection and point out any problems found. Usually the inspection of the home can be completed in two to three hours (the time can vary depending upon the size and age of the dwelling). The Home Inspector must give you a written report of the home inspection within three business days after the inspection is performed (unless otherwise stated in your contract with the Home Inspector). The home inspection report is your property. The Home Inspector may only give it to you and may not share it with other persons without your permission.

Q: Are all inspection reports the same?
A: No. While the Home Inspector Licensure Board has established a minimum requirement for report-writing, reports can vary greatly. They can range from a ‘checklist” of the systems and components to a full narrative evaluation or any combination of the two. Home Inspectors are required to give you a written “Summary” of their inspection identifying any system or component that does not function as intended, or adversely affects the habitability of the dwelling, or appears

why should I have the home inspected?
A: Most homebuyers lack the knowledge, skill and emotional detachment needed to inspect homes themselves. By using the services of a licensed Home Inspector, they can gain a better understanding of the condition of the property, especially whether any items do not “function as intended” or “adversely affect the habitability of the dwelling” or “warrant further investigation” by a person who specializes in the item in question.

Q: In my home purchase I have chosen to sign the standard Offer to Purchase and Contract * form which many real estate and legal professionals use. It states that I have the right to have the home inspected and the right to request that the seller repair identified problems with the home.

Call Pat Taylor at 252-439-4003 or email Pat today!

Step 1. Find a Local Lender You Can Talk To in Person
Local lenders understand your market and know of loan programs that might be beneficial to you.

Advice to home buyers from Pat Taylor

Step 2. Be Specific in the Area You Want To Live
Educate yourself. Familiarize yourself with the neighborhoods you’re interested in, the taxes and school districts. This not only helps you narrow down your search when you need to move fast, but also helps you figure out potential mortgage payments. Search for homes in your desired neighborhoods.

Step 3. Find an Agent Specializing in the Area You Want to Live
This will save you time and effort. Once you’ve identified an agent, trust him or her to do the job. Agents who are thriving in this challenging market have proven their worth. They have the resources and skills to help you find your next home.

Step 4. Don’t Shy Away From Houses That Need Some Work
Just because a house needs some paint or cosmetic fixes doesn’t mean it’s not a good buy. Most real estate agents have an address book full of trusted businesses they work with to help you fix up your new home. There’s an HUD program known as 203(k) that enables you to fold repair money into a primary mortgage; ask a RE/MAX agent in your market about the program.

Read more about the 203(k) program.

Step 5. Be Prepared To Act
Sometimes the first home you see is the right one for you. Don’t discount it. Remember, good deals still go fast. Take advantage of the electronic tools your real estate agent has to offer. In many instances, real estate agents have access to better information than what you can find in a standard Internet search.

Find a RE/MAX agent in your area.

Search for homes in your desired neighborhoods.

The advice offered here comes from sales associates affiliated with independently owned and operated RE/MAX offices and may not be applicable to all areas.

Written by Lisa Escue (CDPE), with RE/MAX Masters II in Grapevine, Texas.

SCARY EXPERIENCES WHEN SHOWING HOMES
TO PROSPECTIVE BUYERS!!

Real estate agents take all kinds of risks when showing homes to prospective buyers. Several years ago, I was working with a couple that insisted on looking at a home located on the creek in Pitt County. It had about 5 acres of land and very secluded. As we drove up to the house, we noticed how wooded the property was and very private Of course, they were very excited. It was just like they had imaged.

Well, we got out and went up to the stairs to go inside of the house. Home had been vacant for sometime and it looked spooky to me. We went inside and started looking around. I walked through the bedrooms, kitchen and saw another stairway leading to the 2nd floor. The buyers were following close behind me. I started up the stairs when I saw not One but Two large snakes coming down the stairway.

Needless to say, I almost fell on top of my buyers. I didn’t walk back down the stairs, I run backwards to get down. The buyers had no idea what was wrong. I couldn’t scream –too scared! Buyers got out of my way fast and luckily no one was hurt. By that time, they also saw the snakes and we all got out of that house as fast as possible.

We stood on the front porch until we got ourselves together. About that time, another agent drove up. She looked at us so funny. We told her what happen. She said that her buyers wanted to see the house anyway. The agent said we probably scared the snakes away when we screamed and run outside. We told them be careful and good luck!

Has anything ever happened to you when looking at a home to buy? Share your experiences of the home buying process.