Home Buying Checklist: The
Process Of Buying Your New Home
Once you've made the
decision to buy a home, it's time to start thinking about what comes next. Every buyer needs a checklist that will guide
them through the process of searching for the perfect home, evaluating their
choices and making a purchase.
Learn The Lingo
When you set out to buy a
new home, you will need to familiarize yourself with various real estate terms,
conduct research on the market value of homes in the area in which you intend
to shop and learn the art of negotiation.
This information will help as you browse homes, talk with Premier Beach Realty Agent S and
get further into the buying process.
Get A Free Credit Report
Every 12 months, you are
entitled to request a free copy of your credit report from each of the three
major credit reporting agencies - Equifax, TransUnion and Experian. You should make this request before you begin
looking at homes in order to allow yourself enough time to identify and dispute
any inaccuracies in your credit file(s).
When you approach a lender, you will need to make sure that everything
is correct and up-to-date.
Get Pre-qualified
Pre-qualification is
different than pre-approval in that it gives you a possible price range that
you can afford, but does not guarantee you the loan. Pre-qualification is important because it
will help you narrow your search to include only homes that you can
afford. Knowing what you can pay
beforehand will save you both time and disappointment in looking at homes that
do not fit your budget.
Speak With A Premier Beach Realty Agent
Nobody knows the real
estate business like a Premier Beach Realty Agent , so let them help you to find your new
home. Based on your specific
requirements, a Premier Beach Realty Agent can locate a home that will suit you at a price that's
within your budget. When he/she finds
one or more possible candidates, you will be invited to tour the home. At this point, you should take a camera for
the purpose of later reviewing each house with visuals instead of relying
solely on memory.
Make An Offer
Once you find the perfect
home, make an offer that's less than you are actually willing to pay. This way, the seller can make a counteroffer
that would hopefully still be within your budget. It's important to familiarize yourself with
the art of negotiation so that can learn how to get the best deal without
insulting the seller. If you have not
yet been pre-approved, make sure that your offer is contingent upon your being
able to obtain the necessary financing.
Obtain A Loan
Once you and the seller
agree on a purchase price, you may be required to provide an earnest money
deposit that will secure the home as you obtain a loan (if applicable). A lender will require a home inspection and
appraisal for the property in connection with your loan application. In most cases, you will know within 24 hours
whether or not your application is approved, but the actual closing will not
occur until the inspection and appraisal are complete.
Get Moving
Now that the papers are
signed and you have the keys to your new home, it's time to get moving -
literally. Remember to decorate your new
home and add all of those special touches that reflect your personality. After all, a house is only a house until you
make it a home.
