The process of buying a home can be a daunting task for someone who has never done it before. Here is a very basic outline for you to get a rough idea of what is involved.
The first step is to contact a realtor and see what properties that you would like to look at. Be aware that realtors make money off of houses sold, so do not waste their time. Be aware that some realtors will be enthusiastic to show you homes out of price range, just to get additional business. If this is the case, you will not be getting full market value, just out of it. Be sure that you don’t waste the realtor’s time.
Do a lot of research on different banks so that you can get a really good idea of what is available. This will take sometime, so get your mortgage documents and credit documentation sorted out ahead of time so that you require very little (if any) paperwork. Have all of these together in one place, so that you are prepared for any questions the lender may throw at you.
Decide on a price that is affordable for you, so that you can still afford to make the monthly payments. Let’s face it, most people are not financially savvy, so it is impossible to know what your monthly mortgage payments will be until you sit down and figure it out.
Search for houses that are in the range that you can afford. If you take your time and have a lot of patience, you should be able to find something through your realtor. Perhaps you will find something that you just like and make an offer. This is when you will need a strong buyer’s agent. Think about this: if they give you an honest opinion about the property, you probably won’t be hanging out with a wrong buyer for long.
Ask realtors what property is currently available in the neighborhood that you would like to live in. If you ask what other houses that meet or don’t meet your requirements are selling for, these houses will become your target. You should not try to overspend, but seeking a good, reasonable bargain.
Calculated out your monthly payments and buy a home that will hold its price. This is another reason why you need a great realtor. Once you have located the home of your dreams, let your realtor know that this is the place for you. Make sure that you hire a realtor who knows the full process and has the time to guide you through it.
You can now begin to look at homes in your price range that are still on the market. Each of these homes should be checked out with the realtor before you send any money. This will insure that you will not be wasting anyone’s time, including yours.
Once you’ve selected one of the available homes, have the realtor look at the property and see if there is any crane and rigging near me. They should be able to tell you about any issues so that you can find out if this is something you should be worrying about. They should also be able to give you more information about the vicinity. You should also be looking at other homes in this same area so that you know the exact deal that you will be getting into.
If you do find a home that you will like and can make an offer, have the checklist serviced. Be sure it is thorough and that you have a copy of everything before you actually send the money. Some sellers feel the need to show you their original deposit before they will accept an offer. This rarely happens, but it is common for sellers to take an offer even if they have received several others! Don’t be afraid to back out if you find something about the property that you cannot accept.
Finally, make an offer. If your offer is accepted, be prepared to wait for a time while the owners get to decide if they will accept your offer. Keep in mind that there are many reasons why sellers will take this offer. They may think that they will be able to cover all costs with that money or that they do not need to do anything to the property. It is best to work with your real estate agent to make sure this is the case, because you don’t want to waste your money on home improvements. If they find something wrong with the property, they should alert you.
It can be exciting when you finally find the home of your dreams, especially if it is a first home. Take this checklist with you to make sure that everything goes smoothly. A great realtor will make this process much more comfortable for you. Good luck with the search!