When buying a home there are many steps to be taken in this exciting process. Once you have established your budget, be sure that you are completing all of the other necessary action items. Below is a list of things that I recommend you follow for a smooth transaction. Allow my expertise to be of your assistance and lead you through the process.
Pre-Approval: Once you have figured out what is a comfortable budget for spending on your home, contact a reputable mortgage agent and find out what you can get approved for by a bank for a mortgage. Obtaining a pre-approval letter is essential as you need to have that in hand for when you are ready to make your offer. Having these tools in place will make for a more efficient search.
Neighborhood: There certainly can be many towns to consider when searching for your home, but each area can really range in how they are unique. Consider what your needs are for work, extracurricular activities, entertainment and transportation. Most downtown areas will be similar in terms of taxes, but this can be a deciding factor should you be branching outside of the city.
Ask Questions: There are questions that you want to be asking aside from anything that is obvious when you are honing in on a home of choice. Some may seem rudimentary, but may not be at the top of your list when you are actually previewing the property. Questions like age of systems, why the seller is selling and proximity to nearby services. You may already know that there is a convenience store and shopping down the street, but you might not have realized that there is a great dog park around the corner.
Home Inspection: A home inspection is one of the best reports that your money can buy. It doesn’t matter how old the home is, a professional review can give you the best information about the condition of the home. Information reported from your inspection can aid you in setting up an allowance for future repairs or in some cases can shape your offer should necessary repairs be unveiled.
Purchase and Sale: This agreement is the binding agreement that finalizes all of the terms of the sale. Upon signing the P & S, you will also pay your down payment to be held in escrow. At this point you will want to make sure your insurance and utilities are getting set up for the date that you close and take possession of the home.