Buying
- direct: 1 917-562-0401
- debramarshall@kw.com
Purchasing a house is one of the biggest personal and financial decisions you’ll make. There are a seemingly never-ending series of steps to navigate and terms to learn. The best thing you can do is begin with a birds-eye view of the process. Understanding the basic steps will give you a sense of control from the start. Armed with a great Real Estate Agent, they can provide you with a roadmap to help make it a seamless process.
HOMEBUYER’S CHECKLIST
Identify a Real Estate Agent
Even if you are not ready to buy in the immediate future, an experienced and professional real estate agent can help to prepare you for a successful home buying process by answering all of your questions and by pointing you in the right direction. The cherry on top for the homebuyer is
the homebuyer doesn’t pay for the real estate agent, the seller does. Isn’t that great! You have someone working for you but you don’t have to pay them. Sign me up!
Identify/Speak to a Mortgage Lender
To determine your home buying purchasing power, you will need to talk with a mortgage lender to get pre-approved for a loan. After you and the mortgage lender agree on a comfortable loan amount to meet your purchase price and you are issued a pre-approval letter, you and your agent can begin to view & tour homes in your appropriate price range.
If you need help to identify a mortgage lender, ask your real estate agent for a referral.
Organize Your Finances
Your lender will assist you in determining your down payment amount and closing cost. Set the funds aside and do not alter your financial situation. Do not make large purchases prior to closing. Lenders will track all monies coming into your checking and savings accounts. Large unexplained sums of monies from unusual sources could also cause difficulties or raise red flags.
Find the Perfect Home
Craft your wish list of “must haves” or “non-negotiables.” This will save you time from viewing homes that you are not a suited for your taste.
With the help of your real estate agent, research the neighborhoods that are of interest to you. Familiarize yourself with the neighborhood. Talk to neighbors and ask questions. Remember, you are not only buying a house, but you are also buying into the neighborhood.
Stay within your price range and consider added expenses such as taxes, homeowner’s association fees, maintenance etc.
Do you have school age children? If so, review the school district and their ratings.
There are plenty of sites such as https://www.niche.com/ that will assist you in discovering the neighborhood and schools that are right for you.
Your real estate agent will strategically curate your home viewing process. They will suggest the amount of homes that you should see in one day.
Make Purchase Offer
Your agent will advise and guide you through the process of making an offer and getting your offer accepted. This is achieved through careful consultation and proper advance research.
Remember, your Real Estate Team of Professionals is very important to a successful home buying process. Contact us for a seamless process! Happy Home Hunting!
HOW DO I PREPARE MYSELF FOR THE PRE-APPROVAL PROCESS?
Required Items for Pre-Approval Process