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5 Documents You Will Need to Buy A Home in Wilmington DE, Chester County or Delaware County PA

Thursday, February 18, 2016
by Katina Geralis

When it comes to buying a home in Wilmington, Delaware and the surrounding communities, many do not know what is actually involved. From how much of a down payment you need to your credit score, numerous would-be buyers hold off as they do not think they will qualify. 

But that shouldn't stop you this year as the KG Home Team will walk you through everything you need, including the factors mentioned above, and these 5 documents that will be necessary to move forward with your Wilmington DE, Chester County or Delaware County PA home purchase:

Recent paychecks
When determining your ability to take on a mortgage, your Delaware or Pennsylvania lender will want to see proof of income. In most cases, your last two pay stubs will do the trick! In others, they may want as much as two years worth, so be prepared!

Proof of debts
Lenders will also want to know how much you have in debt, including credit cards, student loans and car loans. Leaving any debts out can cause your approval to be delayed or worse, rejected.

Bank statements
Homebuyers are typically required to provide bank statements to their lender as part of the standard procedure. Lenders will check that all income and financial transfers were completed legally.

Pre-approval letter
We have stated in the past that a pre-approval can speed things along, especially when competing with other buyers for your dream home in Wilmington or Newark. This document details how much home you can afford and proves your buying power.

Proof of insurance
After you've put an offer on a home in Greater Wilmington, you will need to provide proof of homeowner's insurance. Printed copies of the policies will do as your lender will need to keep these on file.

Do not let your previous ideas about what is required to purchase a home hold you back this year! The KG Home Team is here to answer any questions you have and walk you through the process as seamlessly as possible! We even offer a FREE Homebuyer E-Guide!

Give us a call today!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
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Homebuyer Practices for Wilmington DE Open Houses

Thursday, June 25, 2015
by Katina Geralis

Summer is a busy time in the real estate market, with Wilmington DE homebuyers taking the time to tour homes for sale through open houses. However, if you're a first-time homebuyer, you may not know how to act at an open house. Don't worry! Like any aspect of Delaware real estate, there are guidelines to follow as you visit them this summer, but we're here to walk you through it!

As you head out to visit available properties in New Castle County this year, keep the following tips in mind to practice smart homebuyer etiquette and soon you'll be a pro!

Watch the other homebuyers
Take note of your surroundings as you visit open houses in Wilmington and Newark, watching the other homebuyers and listening. You can tell a lot about a home if you see other buyers leaving quickly without taking the time to explore. Are they finding issues? Is the home not in great shape? On the other hand, if buyers are sticking around to ask questions, that can mean great things!

Feel out the market
Visiting open houses is one way to get a feel for the real estate market without committing. In addition to mortgage calculators, online home searches and researching local real estate news, open houses can help you learn more about how homes are priced in the area, what homes in your price range may look like and how quickly they're selling. Open houses are also an excellent way to start a relationship with a real estate agent.

Ask questions
As you tour Wilmington area homes, do not be afraid to ask questions! The real estate agent present at the open house is there to answer your questions about the property, from taxes to operating systems to neighborhood and more. Remember, they have a direct line to the seller and often know more about the home than anyone. You can also make a list of questions to ask through your own agent, but regardless, ask away!

Visit as many open houses as you can while you prepare to buy a home in New Castle County! You don't need to be committed at the time, but simply listening and watching other homebuyers can really help you get a feel for the market. 

In addition, the KG Home Team can provide you with all of the information you need about the real estate market in your area. Want to know which neighborhoods would be best for your family? What programs can help you as a first-time homebuyer? Just give us a call! We're here to help you throughout the entire buying process.

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Homeownership—much more than renting—can help you build your family's wealth. Not only is owning a home a means of forced savings, but your payment will not increase with every year like today's rising rents. It's truly one of the best long-term investments you can make!

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

Easing Your Fears About Buying a Home in Wilmington, Newark DE

Thursday, May 14, 2015
by Katina Geralis

Recent reports have shown more homebuyers than usual are jumping into the real estate market this year and with this leap comes a heap of anxiety. The homebuying process can feel overwhelming with terms you may not be familiar with, interest rates and large amounts of money on the line. However, know that the benefits of homeownership should far outweigh your fears.

To put yourself at ease when buying a home in Wilmington or Newark DE this year, take a deep breath and prepare with the following steps:

Do your research
If you do your homework, there is no reason why the terms associated with buying a home in the Greater Wilmington area should scare you. Research the community or neighborhood you're moving to, the schools in the area, the entertainment, taxes and commute time. If you need suggestions or insight into a specific category, the KG Home Team is here to help!

Get pre-approved
One of the reasons homebuyers have such high anxiety this year is budget. To calm your fears of overspending, it's important to get pre-approved with an area lender. Here you will find out your price range, how much home in Wilmington or Newark you can afford and what types of homes you can begin looking into. Also, remember to shop around to find the best interest rate before making a decision with one specific lender and signing papers.

Rely on your realtor
The KG Home Team is a top-ranked team in Delaware and comes with decades of experience to put you at ease. With a qualified agent on your side, you can rest assured knowing that your best interests are being considered and you have a guide for the entire home buying process. Along your house hunting journey you will indeed have questions, always directly them to your agent! Be clear in what you want in a home and what your concerns are in order for your agent to properly assist you. 

Learn about making an offer
Before you put in an offer on a home in Greater Wilmington, it's important to know how long the home has been on the market, how it compares to other properties and how many other homes are for sale nearby. This is an area your real estate agent can help you with, but you can never be too educated as a homebuyer!

Buying a home should be an exciting time in your life, do not let your fears get the best of you! As your experienced, local real estate team, we are here to make it easier for you. Give us a call!

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When you're a senior, making a home purchase can be just as nerve-wracking. Being prepared with questions for your real estate agent can quickly give you a sense of calm and allow you to enjoy your dream of buying another property. 
 

Katina Geralis
Wilmington, DE Real Estate Expert
Keller Williams Realty
Wilmington Real Estate
Wilmington Homes for Sale
Visit My Website
Contact Me
Find me on Facebook

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