Advise for 1st Time Buyers
• Pre-Qualification: Meet with a mortgage broker and find out how much you can afford to pay for a home.
• Pre-Approval: While knowing how much you can afford is the first step you'll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property.
• List of Needs & Wants: Make 2 lists. The first should include items you must have (i.e., the number of bedrooms a one-story house if accessibility is a factor, etc.). The second list is your wishes, things you would like to have (3 car garage, etc.) but that are not absolutely necessary.
• Representation by a Professional: Consider hiring your own real estate agent, one who is working for you, the buyer, not the seller.
• Visualize the house empty & with your decor: Are the rooms laid out to fit your needs?
• Be Objective: Instead of thinking with your heart when you find a home, think with your head. Does this home really meet your needs? There are many houses on the market, so don't make a hurried decision that you may regret later.
• Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:
1. Include inspection & mortgage contingencies in your written offer.
2. Have the property inspected by a professional inspector.
3. Request a second walk-through to take place within 24 hours of closing.
4. You want to check to see that no changes have been made that were not agreed on (i.e., a nice chandelier that you assumed came with the sale having been replaced by a cheap ceiling light).
• All the above may seem rather overwhelming. That is why having a professional represent you and keep track of all the details for you is highly recommended. Please email me or call me directly to discuss any of these matters in further detail.
• Pre-Approval: While knowing how much you can afford is the first step you'll also avoid being disappointed when going after homes that are out of your price range. With Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming the home you're interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property.
• List of Needs & Wants: Make 2 lists. The first should include items you must have (i.e., the number of bedrooms a one-story house if accessibility is a factor, etc.). The second list is your wishes, things you would like to have (3 car garage, etc.) but that are not absolutely necessary.
• Representation by a Professional: Consider hiring your own real estate agent, one who is working for you, the buyer, not the seller.
• Visualize the house empty & with your decor: Are the rooms laid out to fit your needs?
• Be Objective: Instead of thinking with your heart when you find a home, think with your head. Does this home really meet your needs? There are many houses on the market, so don't make a hurried decision that you may regret later.
• Be Thorough: A few extra dollars well spent now may save you big expenses in the long run. Don't forget such essentials as:
1. Include inspection & mortgage contingencies in your written offer.
2. Have the property inspected by a professional inspector.
3. Request a second walk-through to take place within 24 hours of closing.
4. You want to check to see that no changes have been made that were not agreed on (i.e., a nice chandelier that you assumed came with the sale having been replaced by a cheap ceiling light).
• All the above may seem rather overwhelming. That is why having a professional represent you and keep track of all the details for you is highly recommended. Please email me or call me directly to discuss any of these matters in further detail.
