Steps to Purchasing a home

So for a few months now you’ve been looking at your rent payment and wondering, “is it time to buy a home” or “can I afford a home”? The process of purchasing a home can be a daunting task.  I will tr…

So for a few months now you’ve been looking at your rent payment and wondering, “is it time to buy a home” or “can I afford a home”? The process of purchasing a home can be a daunting task.  I will try to break it down for you in a few articles so that it will end some of the confusion.

The first step in the home buying process is to sit down and meet with a bank. You will need to get pre-qualified in order to find out if you are eligible for financing and how much purchasing power you will have.

Now that you’ve checked with the bank, and found out that you are prequalified to purchase a home, what’s the next step?  You’ve probably already been viewing some homes in your area online.  You may have even driven by a few of them curious as to what lies beyond the front door.  It’s time to call a Realtor in your area.  If you are interested in a specific home let them know.  Your Realtor will have plenty of questions for you both on the phone and when you meet with them for the first time.  Some of the questions may include things such as:

    When are you looking to move?

    Have you been prequalified?

    Do you have money set aside for a downpayment?

    Can you provide proof of these funds?

    Do you have a current house that you need to sell?

    Are you currently working with any other Realtor?

    What neighborhood(s) are you interested in? and Why?

    What features in a home are most important to you?

    What are things you absolutely do not want in your new home?

    Are you looking for a home that is “move-in-ready”? or Are you ok with a home that needs some work?

    When do you need to be in your new home?

Remember, your agent is trying to gather as much information as needed to find the perfect home for you!  After your initial meeting or phone call, many agents will set up a search that will automatically email you when new listings appear that meet the specific criteria that you have discussed.  After you have found a handful of homes that you want to look at, it’s time to setup an appointment with your agent to go and see some homes!  Your agent may have selected a few homes that were not on your top picks.  Go with an open mind, and good luck on finding the perfect home!

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