Submitted by Dan Martinez, Keller Williams Realty
The young buyers were worried and stressed. The home they were renting and planning to purchase was no longer an option and they needed to move within the next month. Fortunately, these buyers had taken the First Time Home Buyers class which I recommended to them, and were prepared to move quickly with their financing in place and a clear understanding of the home buying process. Within one week, we were able to find a great home and they were able to move when their lease expired.
First Time Home Buyers Class
The First Time Home Buyers class is a free course offered by the Washington State Housing Finance Commission which helps homebuyers learn how to purchase and maintain a home. Upon completion of the course, participants receive a certificate good for two years, which is required for some of the loan assistance programs.
One such course is taught locally by trained instructor Michelle Wickett of Axia Home Loans. Michelle informs buyers of their loan options, including the possibility of down payment assistance. Buyers also learn about pre-approval vs pre-qualification, and the differences between various lenders including banks, mortgage brokers, and portfolio lenders.
Michelle has assembled a team of local professionals to assist with the course subjects including a Real Estate Broker, Home Inspector, and Tile Company representative. These industry experts explain their roles in the home buying process and provide many helpful hints when searching for a home.
Real Estate Brokers
Real Estate Broker, Cheryl Frable of Real Living Northwest Realtors, covers the home buying process with new buyers illustrated with a detailed flow chart. The process begins with finding a broker you like and trust since you will be spending considerable time with them and sharing personal information. Real Estate Brokers can assist buyers in clarifying their reasons for purchasing a home, learn the pros and cons of online searches, recommend reliable service providers, and guide them through the purchase process. Real Estate Broker services are typically provided at no cost to the buyer.
The Home Inspection
Every home buyer is encouraged to obtain a home inspection to clearly understand the condition of the home they plan to purchase. Larry Stamp of Cameo Home Inspection Service provides an entertaining overview of the inspection process, complete with samples of pest damaged wood and other displays to emphasize the potential damage a home can experience. Larry has written the informative booklet “What if Houses Could Talk” which you can download for free.
Free Take Out
Upon completion of the First Time Home Buyers Class, participants receive a complimentary packet of information explaining home buying terms, processes, and resources as a reference to the abundance of information received during the class. They also receive examples of forms and definition of terms to help prepare for the home buying process.
Send Someone to Class
Realtor.com recently reported that first-time home buyers helped push home sales in May to their highest level since May 2009 and that first-time buyers in May represented 32% of all sales, up from 30% in April and 27% a year ago. Chances are you know a First Time Home Buyer who can benefit from this class so forward this article and help them become educated and empowered to purchase a home with confidence.
Contact me if you would like to know more about this class or are ready to buy, sell, or invest in real estate.
Dan Martinez
360-789-4408
