subject: Fresh Advice On Purchasing A Home [print this page] Purchasing a new home is a wise investment and is possibly one of the most exciting purchases you'll ever make. Since there are so many questions surrounding the purchase of a property, it's important that you have peace of mind while going through the process.
Whether you're looking to buy a home as a primary residence, a second home or as a vacation home, you'll enjoy piece of mind by hiring an experienced, highly skilled and competent real estate professional.
Below you will find tips to help you through this buying process:
Hire an Experienced Real Estate Professional
Today more than ever, people are choosing to allow a realtor assist them in the purchase of their home for the same reasons they hire any other professional.
A licensed realtor is a professional whos been trained and is knowledgeable in real estate contract, negotiation, financing, laws and paperwork. Realtors possess the necessary expertise and will take the time to get the job done right, helping you to avoid added stress as well as possible pitfalls.
Ultimately, you can expect to depend on your real estate associate to gently guide and assist you through the entire buying process.
Get Pre-qualified to Purchase
Youll first need to contact lenders who can pre-qualify you for a mortgage. This will tell you how much you can afford to spend and this process can usually be done over the telephone. When you see a property you would like to make an offer on, being pre-qualified will allow you to move quickly and also lets the owner of that property know you are ready, willing and able to make the purchase.
What type of property are you looking for?
The next thing you want to do is define which kind of property that youre interested in? What things in the home are most important to you and your family? Sometimes, its a good idea to make a list of wants and a list of needs. By giving this list to your realtor, you can avoid wasting a lot of time on properties that dont meet your interests.
Viewing Homes and Open Houses
Ask your real estate agent to search for and arrange showings of properties that meet your specific wants and needs. To keep you from getting confused, rate and make notes on each property as you view them. This will help to narrow down possible properties and will also help you recall details about each property at a later time. Your associate should also keep track of all properties you have looked at, as well as offer suggestions as to the pros and cons to purchasing such properties.
Making an Offer
Once you have found your dream home, you realtor can help you to prepare the necessary contract and to professionally present the offer on your behalf. Your realtor should be able to inform you of your options so you can make an educated decision on how you want to proceed.
Arrange for a Home Inspection
Once your offer has been accepted, be sure to schedule a home inspection immediately. A home inspection will provide you with information of any possible problems with the property. While you may feel comfortable with your own inspection, professional home inspectors are trained to identify common problems based on the year a home was built and the materials that were used. After the inspection, you will be given a report written by the inspector after they have thoroughly gone through the property, usually with an estimate for any repairs or replacements. You may want to use this report to negotiate repairs as part of the purchase. Make sure that you do a final walk through of the property before closing.
Closing on Your New Home
Before the actual closing on your new property, you want to make sure to deposit any monies required, as well as complete any necessary paperwork for the mortgage, title, homeowners insurance, along with any paperwork that may be required by local or state governments. To make sure that the closing process goes smoothly, your Realty associate should see that all necessary paperwork is complete and check to make sure all documents are correct. In addition, they will also accompany you to the closing of the property.
Moving In
Some things you'll want to remember to do before your move, is to make sure that you contact the local utility companies to turn on your electric, gas, telephone, water as well as contact your local postmaster and arrange to have your mail transferred. Ask your real estate associate as they usually can provide you with a list of telephone numbers and addresses to these companies.
