1.) When buying a house, I will watch what I say to the "Listing Agent".

      The "Listing Agent", or agent that's helping sell the home, ultimately works on the seller's behalf. If you say something like, "We would be willing to pay $260,000, but we'll offer $240,000," a seller's agent is obligated to pass along that information. You need your own representation...just like having your own lawyer in a courtroom. You wouldn't want the same lawyer, that represents the apposing side, defending you in a courtroom! You will be misrepresented....

      So, if you stumble across an Open House, and find it to be the perfect home, it is definately in your best interest to call me, your Realtor. I will negotiate the best purchase price, write all the contacts, and ask for all the things possible from the seller's agent.

      For instance, I often will ask for the sellers to pay for part or all of my buyers closing costs, which keeps more money in your pocket at the end of the deal. I will ask for the Washer & Dryer, the Refrigerator, or sometimes Furnature to be included in the sale price of the home. We can also ask for a "Carpet Allowance" from the seller, often around $2,000, so that when the seller's move out, you can have some cash for flooring of your choice....

     Best of all, my services to you "the buyer", are free! I am paid at the close of escrow by the seller. All the more reason to have an experienced Realtor, like myself, representing you in the purchase of your new home!

2.) I will check my credit report before getting a mortgage.

     When you plan to buy a house or refinance, the first thing to do is check your credit report for errors so you'll have plenty of time to fix any mistakes you find. Derogatory, but wrong, information on your credit report costs time and money when you're getting a mortgage. If you find out about it too late, you might have to delay the closing while the errors are fixed. Or you might end up paying a higher interest rate than you deserve.

     The mortgage lender doesn't want your monthly debt payments (for everything from credit cards to auto payments to student loans) to exceed a certain percentage of your monthly income. The lender will check your credit report just before closing, and if you have added lots of new debt since you applied for the home loan, you suddenly might not qualify. Wait until the mortgage closes before assuming new debt.

     A rough rule of thumb goes like this: Figure out how much the mortgage's principal and interest will cost each month, and assume that taxes, insurance, repairs and maintenance will cost about the same. Keep this in mind and you're less likely to buy more house than you can afford.

     Let's say you will need to redo the kitchen in five years at a cost of $5,000. If you set aside $80.50 a month in a money-market account paying 1.4 percent interest compounded daily, you will have $5,000 in five years.