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Q. What Is The Right Way To Buy A Home?
How To Buy A Home…The Easy Way! Avoid The 10 Most Common, Painful, Frustrating Mistakes When Buying Your Home.
A. Buying a residence can be a hair-raising experience. The experience can turn into a roller coaster ride of emotions from finding the right home, to securing a loan at the right rate, and finally closing on your new home and making the move. For most of us our first time home purchase is the largest investment we’ve ever considered. Often the emotions of purchasing something so expensive and personal can cloud our best judgment.
Unfortunately, most first time home purchasers do little or no research before they make their investment. This special report is designed to help you avoid the 10 most common home buying mistakes. Remember that the “right” real estate professional can help you make good sound business decisions based on your personal circumstances.
1. Get pre-approved for the mortgage loan: The first step to owning your own
home is to talk to a qualified mortgage lender who can tell you if you qualify for
a loan; and if so, for how much. If it is determined that you don’t qualify
presently, a qualified lender will be able to inform you of what you need to do in
order to qualify. Finally, a lender will provide you a most important letter of pre-
qualification.
2. View Several Homes: Preview at least 7-10 properties. Look at the neighborhood and look at the neighbors! With your agent’s help you should be able to view enough properties to get a good overall perspective of your market
3. Imagine the Property Vacant: Your furnishings and decorations will be the ones filling your new home. Don’t be swayed by decorator appointments and beautiful furniture. Use your imagination and picture the home arranged with your furnishings.
4. Inspect, Inspect and Inspect: You’ll want to have the pre-owned home your considering buying inspected by a competent and well-regarded licensed home inspector. Carefully review your inspection report with your Realtor and the inspector after the inspection is complete. Is there a Home Owner’s Association? You’ll want to review those documents. Take nothing for granted... inspect everything!
5. Utilize Your Realtor’s Team: By aligning yourself with the right Realtor, you will have an entire “team” at your disposal. Utilize your lender, the Title Company, inspector, and your Realtor! Each of these professionals should work together for your benefit. Understand all of your options before you sign. Ask lots of questions.
6. Understand All The Costs: Understand all the costs and expenses involved in the purchase of your home before you sign including utilities, taxes, insurance, maintenance and home owner dues if applicable.
7. Do a Final Walk Through: Take the time to inspect your home after all furnishings have been removed. Make certain the property was left exactly as you had agreed upon in the contract. Often times, things are unintentionally overlooked that could have been spotted in a final walk through.
8. Plan for Flexibility: Closing dates are not written in stone. Allow for contingencies and have a back up plan. Understand that you or the seller may need a little more time to conclude final arrangements. Don’t allow last minute delays to upset or frustrate you; they come with the territory.
9. Get it in writing: All agreements need to be in writing and be made part of the contract. Don’t make any assumptions or believe any assurances. Even the best intentions can be misinterpreted.
10. Loyalty Breeds Loyalty: Be open, honest and “up front” with your Realtor. A lack of open and honest communication will cause headaches, delays, or may even keep you from getting into the home you want! Take the time to select a Realtor who knowledgeable, competent, and someone with whom you can feel comfortable.
Got Questions? I’ve Got Answers!
Send me an email and I’ll gladly respond.
Put “DENNIS, I NEED HELP” in the subject line.
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