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Make These Real Estate Resolutions

Those who plan to buy a home this year should consider the following New Year's resolutions.

Buyers should be careful in the absence of an exclusive buyer agency agreement means the agent works for the seller and is obligated to give him/her such information.

Because any errors or negative marks in their credit report could delay the closing or result in a higher interest rate, buyers should also obtain and correct any mistakes in the report before they apply for the mortgage. The lender will check the report a final time before the loan closes, so they should avoid accumulating new debt after they make an offer or they could find themselves ineligible for financing. To ensure they purchase a home they can afford, buyers should take into consideration the mortgage principal and interest, property taxes, insurance, repairs, and maintenance and begin saving money for any improvements to be made down the road.