Carlos, the main documents/information needed for a buyer are: Two years residence and employment history. Current paystubs, current W2s Two years tax returns if self employed or show other types of income (rental income, interest/dividends, etc.). Personal and corporate if applicable. Two months asset statements for all accounts where funds for closing and reserves are coming from Credit will also be run Some lenders, (like the one that helps many of my buyer clients), have alternative documentation programs where tax returns may not be required, e.g., bank statement programs for self employed if income from returns don’t substantiate qualifying income.
An appraisal is an invaluable part of the buying and selling process. It alerts the buyer to the value of the property to ensure they don’t overpay for it. Most lenders require buyers to get appraisals before they approve loans to confirm that the mortgage doesn’t exceed the actual property’s value. However, not all appraisers need
If you are ready to hire a real estate agent and enter the job market, you may be presented with a buyer-broker agreement. This document outlines the expectations of your real estate agent while also giving them the right to represent you. Some buyer-broker agreements give your agent exclusive access to help you buy a home, with penalties if you e