Buying a Home?
Buying a Home?February 17, 2016 Comments Off on Buying a Home?
Are you considering buying a home?
Pre-Qualification: Meet with our preferred mortgage broker or your own and find out how much you can afford to pay for a home.
- Pre-Approval: While knowing how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. You’ll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you’re interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.
- List of Needs & Wants: Make 2 lists. The first should include items you must have (i.e., the number of bedrooms you need for the size of your family, a one-story house if accessibility is a factor, etc.). The second list is your wishes, things you would like to have (pool, den, etc.) but that are not absolutely necessary. Realistically for first-time buyers, you probably will not get everything on your wish list, but it will keep you on track for what you are looking for.
- Representation by a Professional: With our extensive experience we will be working for your best interest and representing you, the buyer, not the seller.
- Focus & Organization: In a convenient location, keep handy the items that will assist you in maximizing your home search efforts. Although we will setup a home search with the criteria you provide us, keep search our website for homes that come on the market. Property Home Search can be found at the top of this page.
- Other such items may include:
- One or more detailed maps with your areas of interest highlighted.
- A file of the properties that we have shown to you.
- Paper and pen, for taking notes as you view homes.
- Video camera to help refresh your memory on individual properties, especially if we attending a series of showings.
- Visualize the house empty & with your decor: Are the rooms laid out to fit your needs? Is there enough light?
- Be Objective: Instead of thinking with your heart when you find a home, think with your head. Does this home really meet your needs? There are many houses on the market, so don’t make a hurried decision that you may regret later.
- Be Thorough: A few extra dollars well spent now may save you big expenses in the long run.
- Some of the essentials we will do once and offer has been accepted:
- Include inspection period & mortgage contingencies in your written offer.
- Have the property inspected by a professional inspector.
- Have a second walk-through which will take place within 24 hours of closing.
- We will want to check to see that no changes have been made that were not agreed on (i.e., a nice chandelier that you assumed came with the sale having been replaced by a cheap ceiling light).
All the above may seem rather overwhelming. That is why having us as professionals represent you and keep track of all the details for you. Please email me or call us directly to discuss any of these matters in further detail.