Pre-qualified is the first step to towards the mortgage process. To be pre-qualifed you simply supply your broker, bank or lender with a general financial picture that includes your current debt, income an dassets. After going over the information, your lender can give you a general idea of a mortgage amount that you could potentially be approved for without running your personal information.
Pre-approval is the next step in the process. In this step, you'll complete and submit an official mortgage application and supply your lender with the proper information to perform an extensive check on your financials and current credit. Once your information has been evaluated, your lender will provide you with documentation with an exact loan amount that you are approved for, allowing you to search for homes at or below that number.
Real estate agents provide an extensive amount of knowledge in real estate market, connections within the field, negotiating skills and training. They provide a lot of valuable resources to help take a lot of the pressure and stress away from you.
They are taxes, pre-paid attorney fees, lender fees, and real estate fees. Every home is different so refer to your mortgage broker for exact numbers.
The MLS, or otherwise short for, Multiple Listing Service, is the home base for all house listings. From here you can search homes available for rent, sale, lease to purchase, and foreclosures. You can narrow your search by adding filters such as neighborhoods, price, bedroom quantities, square footage and so forth.
A listing agent will list your home to sell and a selling agent will help you purchase a new home.
The seller is responsible for the real estate agents commission fees unless otherwise specified.