Below are my steps to getting you the "Buyer" started on the right track to home ownership.
- Make sure that you and/or your spouse are seriously ready and committed to buying a home. Buying a home is a huge investment and undertaking so establishing your commitment is very important.
- Do you know your Credit Score? Check your credit score before getting any kind of loan commitment. It is wise that you check your credit score because it will play a very important role in your financing. There are 3 Credit Bureau: scores range from 580 to 750
Equifax, Experian and TransUnion
- How much you can afford? Talk to your local bank or Realtor who can refer a Mortgage Lender or Company who can get you pre-approved its more accurate. Its important because this will give you a an estimate on how much you can afford and what type of home to purchase. They will pull your credit, financials, and how much you earn etc.
They are lots of financing options for you the "Buyer" they're loans out there right now that require minimal down payment as low as 5% or even no down payment. Talk to your to several Mortgage Lenders (3 or 4) and discuss your options. With all this in place you have the tools to start your home search.
- Now begins the home search: Hire a friendly and knowledgeable Realtor who will work hard for on your behalf and who is available to show you homes in your criteria and community. Once you have decided on the home you want to purchase, now you have to make an offer on the property. Home homes are listing a little higher than the market value but you can present an offer about 5% below asking. Ask your Realtor to give you a list of comparables (homes that have sold in neighborhood). If the seller comes back with a counter offer, your Realtor can negotiate on your behalf. If all goes well and offer is accepted, you can sign your sales contract and give an earnest money deposit that will be held in Escrow as a sign of good faith to the Seller that you are serious about the purchase.
- Once the Offer is accepted and you have the "all clear" from your lender, now you have to get the ball rolling:
a) Get an Inspection,
c) Property Survey (if the seller does not have one).
- Final Walk Through before the closing: 2 days before closing is your walk though of your home making sure everything is in working order, condition and up to standards per contract. Double check if the contract says "appliances included" that they are there and other items mentioned in your contract agreement.
Enjoy your home search and don't let it overwhelm you. Take pictures and ask lots of questions.
For a list of homes for sale in your criteria,
Just give me a call or email me and I will arrange for you to get an accurate list.
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