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Buyer Tips Selecting a real estate professional to work with, three or six months in advance, is the most important move you'll ever make when buying a home. Those who sellect their real estate professional well in advance, have a great advantage over those who do their own home search, going from home to home, and then at the last moment they start to look for an agent to have the papers drawn.
Learn your financing abilities. Learn the financing Basics. Find out how to select a home loan that meets your budget.
Get pre-approved. This painless process will lets you know the price range that fits your lifestyle.
Make sure you Know what you want. You don't need to wait until the closing to realize that the house isnt going to meet your needs. Make a list of what you're looking for in advance, before you start looking; i.e., size, neighborhood, commute time and necessary repairs.
Keep your debt to a minimum. Avoid making major purchases until after closing. Reduce credit card debts and decline applying for new ones. Financial institutions evaluate your credit based on your gross monthly income. Your total monthly budget should not exceed 28 percent of your gross monthly income.
Be ready to view new homes when called. In some cases, homes sell within hours, or days. So be ready to visit them and make quick decisions. Be flexible to change any previous terms.
Be in constant communication with your agent. Direct communication can be the difference between purchasing the property of your choice, and/or settling for another.
Before you purchase any property, make sure you:
Submit a strong competitive offer.
Deposit a large amount of earnest money. In some instances, offers do come down to the amount of the deposit.
Minimize the number of contingencies. Fewer contingencies mean a stronger offer.
Hire a home Inspector. A professional home inspector assures the house of your choice is in satisfactory condition.
Check zoning regulations and covenants. Good residential neighborhoods will be zoned to keep out commercial and industrial users. Read any restrictive covenants and make sure they fit your lifestyle.
Request an updated property survey. Be sure it clearly establishes the property boundaries.
You specify exactly what will stay. Your contract should be very specific about which items (appliances, etc.) are included in the sale.
