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Purchasing a property is most likely the biggest financial decision you will ever make. Whether this is your first purchase or you are an experienced buyer, this decision must be made carefully.
Before you start shopping for your property, it is a good idea to make some preparations. You will need it to secure financing for your property.
It helps to have an expert in your corner when undertaking such a large purchase. We can guide you through this process, and also provide you with access to property listings before they hit the general market.
Select a few of the recommended properties that interest you the most and have your real estate agent make appointments to visit them. Once you have picked out the property you want to purchase, your agent can help you make an offer that the seller will accept.
Now that your offer has been chosen, you and the seller will be given a timeline to mark every stage in the process of closing the real estate contract.During the process we will keep you constantly updated, so you will always be prepared for the next step.
If you have come this far, then this means that it is time for a congratulations! We will provide a list of useful numbers for the activation of home services and utilities before the closing occurs.
Find Why You Want To Buy.
Are you tired of paying rent? Have you outgrown your current home? Are you looking for a rental property? Would you like a larger yard? Would you rather live in a different area? Do you want to shorten your commute? Having a clear sense of your reasons for buying will help you choose the right property.
Timing
Deciding whether it’s a good time to buy a house or not depends on a variety of personal factors and market conditions. The right time to buy a home comes down to your own unique situation. But remember, it's always the perfect time to buy your perfect home.
Do You Want To Grow Your Portfolio?
Property ownership is an excellent investment; whether you are looking for your dream home, a rental property, or to expand your investment portfolio. Owning real estate is one of the least risky ways to build equity or to obtain a greater return on your initial investment.
Gather Your Financial Paperwork
A financial file contains all your important financial documents and can be hard copies or a digital folder that contains all downloaded documents. You will need it to secure financing for your property. It should contain:
Get Pre-Approved For A Mortgage
Pre-approvals are a dress rehearsal for your mortgage and are necessary to make a serious offer on a home. When you apply, your lender will give you a pre-approval letter that states how much you’re approved for based on your credit, assets, and income. You can show your preapproval letter to me I can help you find homes within your budget. To get pre-approved, you need to apply with a lender. The preapproval process typically involves answering some questions about your income, your assets, and the home you want to buy. They typically expire after 90 days and can be refreshed if you don’t find the home you’re looking for in that time. After you’re pre-approved, avoid opening new credit lines or making large debt payments that can impact your FICO score. Working with a lender to get preapproved for a mortgage is an important step in accurately determining your budget. A mortgage preapproval will give you real numbers since the lender will have detailed info about your finances.
Knowing What It Takes To Make A Purchase
Buying a property requires making many important financial decisions, understanding complex issues and completing a lot of paperwork. It helps to have an expert in your corner when undertaking such a large purchase. We can guide you through this process, and also provide you with access to property listings before they hit the general market.
Here are some factors to consider when choosing your real estate professional:
Create A Wishlist
Make a list of the things you'll need to have in the house. Ask yourself how many bedrooms and bathrooms you'll need and get an idea of how much space you desire. How big do you want the kitchen to be? Do you need lots of closets and cabinet space? Do you need a big yard for your kids and/or pets to play in?
Once you've made a list of your must-haves, don't forget to think about the kind of neighborhood you want, the types of schools in the area, the length of your commute to and from work, and the convenience of local shopping. Take into account your safety concerns as well as how good the rate of home appreciation is in the area.
Key Takeaways
1 / I will make sure to check out the little details of each house
2 / Evaluate the neighborhood and surrounding areas
Documenting Your Visit
When it’s time to take your home tour, check the features against the checklist you made. Do you need to re-evaluate any of your must-haves? Get a feel for the home and consider anything you may have left off of your list. Remember, paint can be changed and staged furniture will be gone, but there are aspects that can’t changed so easily:
Writing An Offer
Before you make an offer on a house there are 3 key elements that you'll want to have in place before you make an offer on a house.
Common Contingencies
Your written offer will likely include a least a couple of standard contingencies. These are things that need to happen before the sale can move forward. Common contingencies include:
Although you have to protect your interests and gather enough information to make a wise purchase, contingencies may act as roadblocks to getting a deal done — especially in hot markets. It’s best for both the buyer and the seller to put only enough stipulations in the contract to cover the necessary bases; no more.
After Your Offer Is Accepted
Your Final Walkthrough
We will do a final walk of the home together within 24-48 hours of closing to check the property’s condition. This final inspection takes about an hour. We will make sure any repair work that the seller agreed to make has been done. We will be sure to:
Closing Day
Closing is when you sign ownership and insurance paperwork and you receive your new home’s keys! Typically, an offer to closing takes two to four weeks. During this time, purchase funds are held in escrow, where your money is held safe until the transaction is complete. You can expect us to be there, along with:
RECEIVE YOUR KEYS!
Congratulations! It was a lot of hard work but you are now officially homeowners!! Time to throw a party and get to know your new neighbors!