1. Pre-Qualification

Meet with a mortgage lender and find out how much you can afford to pay for a home.

2. 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.

 

 

3. 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.

4. Representation by a Professional: 

Consider hiring your own real estate agent, one who is working for you, the buyer, not the seller.

5. Focus & Organization:

In a convenient location, keep handy the items that will assist you in maximizing your home search efforts. Such items may include:

• One or more detailed maps with your areas
    of interest highlighted.

•  A list or file of the properties that your
    agent has shown to you.

• Paper and pen for taking notes as you
    search. A camera to snap pictures of
    homes you have toured to help you
    remember your favorites and features
    you really liked.

 

 

6. Visualize the house empty
& with your decor:

Are the rooms laid out to fit your needs? Is there enough light?

7. 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.

8. Be Thorough:

A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:
1. Include inspection & mortgage contingencies
    in your written offer.

2. Have the property inspected by a professional
     inspector.

3. Request a second walk-through to take place
     within 24 hours of closing.

4. You 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).

 

 

This may all seem rather overwhelming

That is why having a professional represent you and keep track of all the details for you is highly recommended. Please fill out the form below to discuss any of these matters in further detail.

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