Home Refinancing

Refinancing is a common term in the real estate and the home-owner world, however, many people do not completely understand it. Our goal at Burns & Ellis Realtors, located in Dover, DE, is to provide you with a quick and simple guide to refinancing your home mortgage. Read on to learn more, and If you are in the Dover, DE area and looking for a team of professionals to help you buy or sell your home, contact the experts at Burns & Ellis Realtors today!

What is Refinancing?

At its most basic level, refinancing refers to the process of replacing your current home mortgage with an updated version. The process of refinancing your mortgage can allow you to change the term of your current loan and/or switch from an adjustable-rate to a fixed rate. Refinancing can have several benefits, such as lowering your monthly payment, saving on interest over time, paying off your mortgage in less time, and to receive cash either in hand or transferred to your mortgage balance from the equity you have put into your home. Overall, refinancing your home can give you some financial breathing room in a number of areas, and may help you reach your goals more quickly.

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Working with a Realtor in Delaware

Are you thinking about buying or selling your home? Are you wondering if you need a real estate agent? While you don’t technically need a real estate agent, we don’t advise that you start the process without one. A Realtor’s job is to protect you and your best interests. Realtors work on behalf of their clients to ensure that their rights as either a homeowner or buyer are protected. They negotiate on their behalf and handle any issues that may arise during the sale. People who don’t work with an agent for their buying and selling needs create a tornado of confusion that sweeps up their home, assets, and peace of mind. Burns & Ellis REALTORS® serves clients in Central Delaware with diligence, confidence, and a commitment to ensure that their needs are met and that both homeowners and buyers receive the most bang for their buck.

The Misconception About FSBOs

Have you ever heard the term “Fiz-bo”? This is real estate slang for For Sale by Owner (FSBO). What does this mean exactly? Pretty much exactly how it sounds: a property owner is listing their property without the guidance of a realtor to help them navigate the negotiations, bidding, and closing. Some people think that selling a home without a real estate agent can leave the seller with more cash in their pocket; however, this is a common misconception. Frequently, sellers who go this route end up with less cash. And, aside from less money, the transaction becomes all the more confusing!

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Placing An Offer on a Home in Delaware

The real estate market is moving at a competitive pace. If you are in the market to buy a house, it is important that your offers stand out. With all the effort that goes into finding your next home, the last thing you want is to miss out on a good opportunity because another offer was accepted over yours. There are many factors that go into making an offer competitive. Burns & Ellis Realtors is here to give you some tips and tricks that will help get your offer noticed and accepted. Read on to learn more, and if you are in the Dover, DE area and are looking for an expert realtor to help you with your next move, call the office of Burns & Ellis Realtors today.

Mortgage Pre-Approval

As the market continues to get more and more competitive, obtaining a pre-approval becomes increasingly important. A mortgage pre-approval is a statement from a lender that states how much you are qualified to borrow. Coming into negotiations with a pre-approval letter assures the seller that you are a serious buyer, with the capital to make an offer on their property. Pre-approvals are for more than just the seller though. Having a letter of pre-approval also lets you and your realtor know what you are working with, and can help narrow down your search for a home.

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