Choosing your Great Falls real estate agent is a very important decision.

Search for a Certified Workforce Housing Specialist

In your search for a home, a Workforce Housing Specialist REALTOR® will help you find a home that fits your needs.  He or she may suggest potential lenders and provide information about the local schools, stores, property tax, etc.

When you are ready to make a purchase offer to the seller, your REALTOR® usually will be the one to present that offer.  It will include the means of financing you will be using for the purchase.

Find a WHS REALTOR® in your area that is familiar with Home Purchase assistance programs.

The seller will typically pay the REALTOR's® commission, based on the house's selling price, so you will probably not be responsible for that fee. You should, however, strongly consider enlisting a "buyer's agent"– a REALTOR® who will represent your interests in the transaction.

Kelly Parks - Broker/Owner of Great Falls Realty is a Workforce Housing Specialist REALTOR® who is familiar with Home Purchase assistance programs

Kelly Parks is an Accredited Buyer's Agent.

Kelly Parks - cell: 406-788-6826

Be sure to choose a Great Falls agent with personal experience in buying and selling houses.  An agent's experience comes from learning new things with each transaction.  Experience counts!  Also make sure your agent is a full time agent.  You want a full time agent representing your interests.  They are more experienced and know the market and you will not be their guinea pig.  

Always make sure your agent is working for you. That is what we do at Great Falls Realty. 

Look around, find an agent you like and have confidence in and stick with him/her.  Once you decide on who you want representing you, be loyal and you will get the very best service.  Remember, this is what agents do for a living and it is not a game.  We take our jobs very seriously and we provide excellent service and guidance and experience.  We our loyal to our clients.

Here are some tips:

If you're a first-time buyer you can find more information here.

For more housing resources and programs.

Before you shop:

Be a smart consumer.  Learn the financing basics.

Conventional Loans require 20% down

FHA Loans require 3.5% down (there is assistance from MBOH and Neighborworks to help with down payment money if you have good credit and qualify)

VA Loans only require you have $500. 00 of your own money (that is commonly the earnest money amount when you write the offer)

Become educated about home loans.  Your agent should be able to guide you through this process and give you several names of different lenders. You should contact at least 3 lenders to compare interest rate quotes, various loan types and good faith estimates for how much your closing costs wil be.  Don't overlook this step, as your home purchase is a big deal and you don't want to make any mistakes in financing.  There are a number of excellent lenders in Great Falls who are fair and don't engage in predatory lending. 

"Also, never ever pay upfront to get a loan.  Internet lenders are famous for charging buyers an up front fee to process their loan.  This is NOT acceptable and I personally consider it predatory lending.  Use local lenders, ask around and learn as much as you can about lenders and loans." - Kelly Parks, broker/owner. 

Get pre-approved.  This is important for two reasons:

1- You will know how much money you can actually spend or afford for a new home.

2- Your agent should include an approval letter from your lender with any offer you write.  This lets the sellers know you are serious, and can afford to buy their home.  This can make a big difference in a multiple offer situation (where other buyers are making offers on the same home)

Know what you want.  Write a wish list or itemize items that you know you want in your new home.  This will save a lot of time by looking at homes that fit your criteria.  If you are not sure, look at a few homes and then narrow down the search by letting your agent know what you like and don't like.

Keep your debt load to a minimum.  Do not buy anything until your home loan is closed and you are moving into your new home.  Lenders pull credit reports just before you sign your closing document and if they see inquiries from credit card companies, auto loans etc..  you may be denied your loan and this will cancel your home purchase.  Save as much cash as you can too. 

Your total monthly house costs should not exceed 28 percent of your gross monthly income.

Be prepared to view new properties quickly.   In Great Falls, homes that are priced right sell very quickly - usually with in the week.  Be prepared to go look right away when a home that fits your criteria is listed.  Homes that are overpriced or are outdated usually sit on the market for more that a month.  One benefit of Great Falls is that our market is just steady and pretty stable.  We don't have a lot of excitement with huge ups and downs.  Some speculators would consider Great Falls boring, but we have learned from the sub-prime meldown that boring is good.  

Have instant access to your agent.   Being able to speak with your agent when you need him/her is super important.  Don't overlook this aspect.  Make sure your agent is available and not always on vacation etc...  Also make sure your agent is a full time agent with experience.  It really makes a difference.

Before you buy:

Submit a strong competitive offer.  Don't play games when you write a buy/sell.  Ask your agent for guidance and be firm on point that are important to you.  Always be prepared to walk away from a property if the sellers are not reasonable.  What is to be, will be. Never buy a home you feel is not right for you. Never let anyone pressure you either.
 
Include a good earnest money deposit.   Sometimes offers are accepted based on the amount of the deposit.  Earnest money is a good faith deposit on your new home.  It shows the seller you are serious.  If your offer is contingent on financing and the deal falls through you usually get your earnest money back.

Try to minimize the number of contingencies.    But...never, ever waive your right to a home inspection.  This is a very important part of purchasing your new home.  Home inspections cost around $300. and are well worth every cent. 

Scoping sewer lines in older homes that do not have PVC lines running from the house to the city main, is of great importance.  Having to replace sewer lines costs about $15,000 + and it is better to pay the $275 sewer scoping fee to see the sewer line condition than not.

Hire an inspector and Scope sewer line.   A professional home inspector will make sure the house you have chosen will be satisfactory to you.   They will also tell you of any problems with the home so you can make an informed decision as to wether to buy it or not.  Alway hire a professional, never do this yourself, it is not worth overlooking something a home inspector would find.  Be sure not to forget to scope the sewer line if you are buying an older home. 

Check restrictive covenants.   . Read any restrictive covenants and make sure they fit your lifestyle of what you can and cannot do to or at the property.

Make sure you know what stays or goes.
Your buy/sell agreement should be very specific about which items (appliances, shelving, window coverings etc) are included in the sale. Your agent should help you document this in the buy/sell agreement.

Insurance - Insurance depicts a financial protection that safeguards an entity (business or individual) from eventual losses. Such financial coverage has to be accepted by the applicant upon the terms & conditions set by the insurer through a legal agreement.

Get agreements in writing.   In real estate, if it is not in writing it doesn't exist.  Inform your agent if you and the seller agree on certain things that you actually want to happen.  Your agent can document it in the buy/sell or an addendum so you are not disappointed at closing.

Great Falls Realty serving all Great Falls Montana Real Estatein and around Cascade County including Malmstrom Air Force Base. We are experts in buying and selling all Great Falls real estate including Malmstrom Air Force Base.  Our business name is Great Falls Realty because we are the experts!!

Kelly Parks - cell: 406-788-6826

Russ Eustance - cell: 406-788-3363

Chuck Galloway - cell: 406-788-3586