Home
buying in six steps
Buying
a home is and can be a daunting process to home buyers. However, having a
qualified Realtor who understands the process of what it entails will make the
process a lot easier.
The
first step to home ownership is building a good credit history, meeting pre-approval qualifications,
knowing what kind of programs you qualify for, saving up for a down payment (10
-20%) of the property’s value, and considering closing
cost (e.g. taxes, attorney fees, monthly bills, and/or Homeowners Association fees).
Secondly, find a qualified Realtor, obtain a referral if possible from a friend, relative or
search realtor.com. Upon interviewing the
agent, be sure to have an understanding of the buyer representation and contract
agreements terms.
Next, find the right property. Always consider school zones, neighborhood amenities, monthly payments, accessibility, etc.
Later, finance your potential property. Contact the lender, and don't hesitate to ask questions about unclear financing terms (e.g. property taxes, escrow, and other real estate jargon).
Now, time to make your offer. Have your property
inspected by a licensed home inspector. Read all contracts before signing, and be
certain you understand what your are signing. Place a fair and
competitive offer, because a counter-offer is possible at this time. Remember, this is a critical time in your home buying process, so please don't purchase "big ticketed items" (e.g. cars, furniture, vacations, etc.) until your settlement is complete.
Lastly,
settlement and life after purchasing your home.
By this time you will have signed your name hundreds of times. Settlements usually occur at the title or
mortgage company. Your Realtor will be
with you throughout this process, and an attorney will do most of the paper work. Feel free to
ask questions at anytime in order to gain a better understanding! Now
Breathe!! You are officially a HOMEOWNER!!!!
Nothing contained in this blog is intended as or shall be construed as establishing an enforceable agreement between the parties and such an agreement shall be formed only upon written execution of a mutually acceptable agreement which incorporates all terms agreed by and between the parties.
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