Be A Prepared Homebuyer


Being a prepared homebuyer can ease the burden of purchasing a home as well as obtaining a mortgage.  A home is not only an investment in your future, it can also be your sanctuary. Your place of rest or where you are raising your family. A wise choice will bring you the contentment you are looking for. Being prepared will help you reach those goals.  So before you decide on your next home here are a few steps you need to take to assure the perfect choice.

  1. Surround yourself with a great team. With the many changes in the Real Estate market Buying a home can be stressful, so you must work with professionals who are knowledgeable, honest, available, and with whom you feel comfortable working with. Being prepared begins before you start looking for a home. Your team will also generally consist of a Mortgage Broker, realtor, title company, and property inspector. Having the right team in place is crucial to a worry free home buying experience. Ask around; get referrals.
  2. Get preapproved. In order to buy a home now you are going to be required to be pre-qualified or pre-approved for a home loan. Being pre-qualified for a mortgage gives you the confidence to start shopping with confidence.  Sellers enjoy knowing that the potential purchaser of their home has been pre-qualified to obtain a mortgage. Getting pre-approved also helps you, as a buyer, narrow your property search to houses  you can afford. There is no use falling in love with a home, only to find out later, that it is out of your price range.
  3. Do your pre offer research. Before you decide to place an offer, take the time to review all aspects of the home, including location. Visit the neighborhood in the morning, evening and on the weekends. See what kind of activity you see in the neighborhood. Does it meet what you are looking for? Ask the local police about any areas of concern. There are many websites that you could visit that will rate the school districts, community amenities, resale values and safety of any given neighborhood.  You also need to research the home itself, by carefully reading the property disclosures and deed restrictions attached to the property. You will, of course be permitted to conduct a property inspection  during the review period,  but some restrictions or problems with the property may be deal breakers for you and prevent you from pursuing the property with an offer to purchase.
  4. Don’t get emotional.  Be prepared to say NO. Emotions can cloud your judgment. Know your limits and what price range you want to stay in. Budgets are a good thing. Don’t fall in love with any property until it’s your’s. There are many homes that will suit you and your family perfectly, so don’t lose hope if a bidding war, inability to come to agreeable terms, or discovery of problems during the home inspection put you out of the running.
  5. As mentioned above, get a home inspection by a qualified and licensed inspector. It may be possible to renegotiate the deal with the sellers if problems with the home are discovered, but at minimum, you will know the condition of the property and can make an informed decision about whether or not to buy the home. Your Realtor may be a good source for information on inspectors.
  6. Finally. Be diligent and prompt during the contract period. The paperwork process continues as you go through the steps off purchasing a home. If you are financing the purchase your mortgage broker will be asking for further documentation that the lender may need.  It is for your best interest to respond quickly to your brokers request for any and all documentation.  You do not want to put your closing date and escrow deposit at risk by taking your time when one of your team asks you for something! Be a Prepared Homebuyer!

I can help you through the entire process. Call me at 321-723-6206


Leave a Reply