Frequently Asked Questions
What is the first step in purchasing a home?
The first step is to become pre-qualified through a lender. This is a very important step, especially due to changes in loan approval guidelines. Being pre approved also gives you negotiation power.
What if I do not have a down payment?
If you have served in the military on active duty or for a certain period of time as a reservist, you are eligible for a VA loan with no down payment. Also, if you have at least 10% veteran’s disability, you are eligible for a VA loan with no funding fee, which is an additional savings.
Should I purchase a home since there are so many foreclosures and declining values of homes nationally?
The Clarksville market has not been affected like the national market; Clarksville has been selected as one of the 10 fastest-growing cities nationwide. Clarksville has been chosen for the new site of Dow & Hemlock & HSC coming into the area, which will create more job opportunities. It is a buyers market and an excellent time to buy.
Is this a great market for buying investment property and flipping them?
No, it is not. I would recommend buying and holding onto the property versus. trying flipping them due to limited buyers. Also, when the time is right to sell, consider a 1031 exchange to defer the taxes. If you need information on the 1031 exchange program contact me.
Should I sign a Buyer’s Representation agreement with the first Realtor I meet?
Some Realtors will want you to sign a Buyers Rep agreement. If a Realtor requires you to sign this form prior to viewing homes, only sign it for a certain period of time. Avoid signing for long periods of time.