Whether this is your first home or your third, the following tips will make the process easier on you and all involved; from your Realtor to the Title Company, and everyone in between.
1. Begin by contacting 2-3 Mortgage Lenders. Once you're pre-approved be sure to share this information with your Realtor so you are looking at homes you qualify for. (NOTE: a pre-approval letter or Proof-of-Funds must accompany all offers.)
2. If you aren’t already working with someone choose a Realtor who is familiar with the area in which you are interested and easy to get in contact with. Communicate is key.
3. Take notes when you visit properties. It can be confusing and difficult to remember details once you have seen several. I always suggest to my customers to make notes on the Property Synopsis Sheet I give them for each property to stay organized. As well as any questions they may have. Taking pictures may be useful too, be sure to get permission first.
4. Limit the number of homes you view in a day so as not to be overwhelmed. Immediately eliminate the ones that don't meet your needs/wants, you know as soon as you step inside whether it fits or not. Rome wasn’t built in a day so take your time this is a huge investment.
5. Once you have decided to make an offer on a property your Realtor can provide you with helpful information to make a reasonable offer. From there your Realtor will put together your offer and go over it with you. Once you’ve signed it, it will be submitted by your Realtor to the selling side for consideration.
6. When your offer is accepted and signed by both Buyer(s) and Seller(s), it is an executed contract. Have your deposit sent to the escrow company and now it's time to schedule all your inspections. Again your Realtor will guide you with that and should attend inspections with you.
7. Team Effort! As your inspections are going on your lender and title company are working hard to assist in closing your property in a timely manner. Be sure when you are asked for paperwork you get it to the appropriate person quickly or it can delay the closing. That includes appraisal payment and picking your homeowner’s insurance (your Realtor will fill you in on the details).
8. Be loyal to your Realtor, they work hard for you! Jumping from agent to agent or trying to use 2 or 3 at a time is unfair to ALL involved including YOU. Do yourself a favor and choose one Realtor to work with. This is one of the biggest investments of your life so a trusting relationship is paramount. They will get to know you well. I’ve had customers in the past that have said they wanted one thing, but through multiple showings and conversations we realized they wanted something completely different. If you’re hopping from agent to agent you won’t build that all important rapport. Take your time, built a relationship with your Realtor, and ask lots of questions if you don't understand something.
GOOD LUCK AND HAVE FUN! ☺
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