Wednesday, March 16, 2011

Buyers: Are you overwhelmed?!

First time home buyer? Just moving to a new area? Unfamiliar with the process of buying a home? Overwhelmed and need some direction? Here are the 5 basic steps in the home buying process!
WHERE DO I START??!!!
1. As a buyer, the absolute first duck you need to get in a row...is to secure a pre approval amount that your lender will finance for you. That will determine the price point of homes that you and your Realtor should target. Looking for houses without this information could be a waste of your time, and could ultimately set you up for a huge disappointment. You might fall in love with a home that your lender will not approve you to buy. That's just not a position to be in.

Ok, I've got my pre approval, what next?
2. The next step would be to narrow down the area you want to live in. Sure, everyone's looking for a "great deal" right now, but finding a "great deal" in the area where you really want to live is the best scenario.
*What's important to you regarding the area you're looking at? School district, available acreage, certain subdivision...just a few considerations.

3. When you've narrowed down the area, find a competent Realtor in that area. Interview a few! Don't settle for the first agent you meet! They should be able to help you isolate the qualities and specifications that you NEED in your next house, and the things that you would LIKE your home to have. Bedrooms, bathrooms, age of house, size of lot, type of exterior, granite counters, etc. are great places to start.

4. Look at houses! (My favorite part!) Find your next home! Once you select the house you'd like to make an offer on, your Realtor will be able to do a lot of digging and research to come up with a great starting offer on the property. Once you/your agent and the seller/seller's agent reach an agreeable price, you will have a ratified contract!!

5. Once you have a ratified contract, your Realtor will be in contact with your lender and you will be in your new home in 30-45 days on a typical resale!

As always, feel free to ask any questions you may have!
Thanks for reading!





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