Real Estate Tips For First Time Buyers

Dated: 11/02/2017

Views: 86

                                                                                              Ten Essential Steps to Buying A Home

You’re ready to take the leap and buy a home.  If this is your first time, you may want to know what to do to make the process go more smoothly.  Here are ten steps you’ll be going through to buy your next home. 

  •  Check your credit report and scores.  You get one free.  Go to “annualcreditreport.com”. The three credit bureaus are Experian, Transunion and Equifax.  They each report a little differently and you will need all three.

  • Get Prequalified.  Your lender will run your credit and evaluate your ability to get a loan.  You will have to produce income statements, bank statements etc.  If you need assistance in this area, I would be happy to refer a great lender to you.

  • Make your wish list.  Decide where you want to live and how much house you can afford.  Determine how many bedrooms and size of home you need.

  • Hire a real estate professional.  A good agent that knows the areas you are considering knows the good pockets and can search for the right home and help through the negotiation process.

  • Select your home. No home is perfect so expect to find a few things that are disappointing.  Try to see past minor flaws and don’t buy more than you need or can afford.

  • Make an offer.  You are either in a “buyer’s market” or a “seller’s market” depending on the current market conditions.  Your real estate professional can advise you and provide a Market Analysis to determine fair price.

  • Get an inspection.  A home inspection is a professional third party evaluation of the condition of the home.

  • Renegotiate terms.  If the inspection reveals some major problem that will require you to spend money in the near future, your real estate professional can help get a credit for you.

  • Get an appraisal.  Your lender will order this every time to determine if the home is priced fairly.

  • Go to closing.  Once final negotiations are complete and you’ve done your final walk-through to make sure all repairs have been made, you will sign the final loan documents and the lender will fund the loan.  Congratulations!  You’re ready to move in to your new home.

Latest Blog Posts

Jun 1 2020 38376 2

LA now has until September to shelter homeless living along freewaysA federal judge is giving Los Angeles a lot more time to move thousands of homeless residents away from freeways.The city and

Read More

Jun 1 2020 38376 1

Coronavirus blamed for biggest rent slowdown in 5 yearsRent prices had been chugging along at a remarkably stable pace since 2018, with the growth rate rarely rising or falling much from one

Read More

May 3 2020 38376 1

10 Mistakes Homeowners Are making Around the House1. Using Traditional Light bulbsIf you still have incandescent light bulbs in your home, you could be throwing a lot of money away every month on

Read More

May 2 2020 38376 1

35 Foods to AvoidArtificial Sweeteners-cause diabetesAgave-high fructoseBiscuits-trans fats and palm oilCanned Meats-saturated fatsCheese FriesCheese PuffsCheery Pits-cyanideDiet Soda-fake

Read More