Most homebuyers know that a down payment helps save money because it lowers loan amount and mortgage insurance. This reduces monthly payments. It also qualifies you for mortgage programs with better rates. Another savings tip is to pay your closing costs up front with down payment. Avoid rolling closing costs into loan itself or loan and interest increase. Without funds to cover down payment and closing costs you will want to refinance later. Another important investment homebuyers should make is to work with a mortgage broker. A mortgage broker will shop for best loan and interest rate. The knowledge a mortgage broker has can equal savings of up to $50,000 in interest charges. If you have credit issues or just want inside scoop a mortgage broker is your best choice.

Completing Transaction

The closing is an exciting day for both buyer and seller. The buyer should bring GFE for reference during meeting and request to review HUD 24 hours in advance. This means you are prepared and comfortable with completion of real estate purchase. A third party closing agent and REALTOR will be present. The loan officer or mortgage broker can also be present to answer any questions regarding loan. Some companies, like Breakwater Mortgage in Virginia, require their brokers to attend. Companies like this can be better to work with since they are willing to be more involved. Now that all questions have been answered and sale has been completed you can look forward to your new home and focus on future!

4. The net rates are usually expressed in terms of specific discounts off regular published rates. However, some express specific rates in lieu of service guide pricing. Bottom line? Be sure you know which is which during negotiations! Always be sure that you know EXACT terms of agreement before you sign on dotted line.

5. Some published rates may be specifically waived. Such waivers are common for installation charges and certain elements of private line pricing. Make it a point to ask to have these kinds of charges waived during your negotiations. After all, you won't get it unless you ASK!

6. Most telecom contracts include a provision that is included for promotional and other credits. These are applied at scheduled times to off-set costs of converting from other carriers' services. Be sure to make specific notes of these credits at time of negotiation so that you can be sure they were actually credited in future just as contract reads.

7. All telecom contracts provide for penalties if violated. Sounds basic but....ALWAYS be sure you understand penalties and costs associated with violating terms of contracts you sign. Penalties and fees can be substantial so make sure all contract information is provided to new employees who will be overseeing telecom should original negotiator leave company or is transferred.

Business Downturn and Technology Clauses While not always offered by carrier, many businesses are now asking for business downturn and technology provisions.

For example: A business downturn provision would allow a customer to renegotiate agreement if company cannot meet its minimum commitment levels due to unforeseen changes in business itself (i.e. bad economy, layoffs, etc.). Usually a carrier will renegotiate a lower commitment level in exchange for a longer term commitment.

The Technology Clause protects a customer if they decide to change services to more advanced technology, resulting in lowered usage levels on initial services. An example of this is a company moving from a private line network to a frame relay or virtual private network.

Successful telecom negotiation can mean a huge difference in your company's "bottom line" telecom expenditures. Plan your strategy. Familiarize yourself with basics, and always remember: Everything is Negotiable!

About TelCon Associates, Inc.

For 32 years, TelCon Associates has helped companies of all sizes gain control and reduce telecom spending through their proprietary methods of telecom audits, telecom bill management and telecom audit training. Visit www.telconassociates.com for more information and free news and resources in telecom industry.