Tennessee has mandated that brokers for buyers and sellers express their relationship in writing. To view a commonly used agency disclosure click here. This is done for one reason, to protect the consumer. Look at the following scenario.

Billy & Belinda Buyer see a house they like at 123 Main St in Jackson, TN. Billy calls the number on the real estate sign,it is Amanda the Agent. After some brief conversation about the house Amanda tells the Buyers that she is acting as an agent for the seller. From this point everything Billy and Belinda tell Amanda can be passed on to the seller. What?? How can that be? In this situation, she represents the seller. How much negotiating power could Billy and Belinda have lost in this example?  Read more...

Lankford Realty Company will soon have eleven (11) properties offered for sale which were purchased and rehabilitated using Neighborhood Stabilization Program funds (NSP). The funds were the Tennessee Housing Development Agency and the properties were purchased and administered by Southwest HRA in Henderson, TN. Properties will be available to qualifying purchasers in the following counties: Decatur, Hardeman, Hardin, Haywood, Henderson, and McNairy.

Qualifying financing options will include:

• THDA Great Rate Mortgage
• USDA Rural Development Direct Loan
• Habitat for Humanity 0% mortgage loan
• Other non-profit sponsored first mortgage loan (prior approval of THDA)

   Read more...

BUYER’S REPRESENTATIVE

How often do you purchase real estate? Once, twice, three times in your lifetime? So you can hardly be expected to know all the ins and outs of such a major transaction complicated by so many details. In most transactions, sellers are represented by a listing agent who minds these details and their client’s best interests. As a buyer, don’t you also want complete and fair representation in your real estate transaction? Real estate buyer’s representatives are responsible for protecting the best interests of their clients—buyers like you—and can guide you through every step of the process. So the first step, and perhaps the most important, is finding your buyer’s representative.  Read more...

Prequalifying Helps Determine How Much House You Can Afford

Before you start your house hunting in earnest, the real estate professional with whom you are working likely will “prequalify” you to determine a price range you can afford. According to the Real Estate Buyers Agency Council, ABR®, prequalification is a necessary part of the home buying process that helps save you time and money.

Don’t be shy or withhold information about your income or credit status. Your real estate professional isn’t trying to pry. Rather, he or she must know all details related to your ability to obtain a mortgage.  Read more...