There’s a lot of conflicting information out there as to what you should do when buying a home. Do you start off with finding a realtor or a mortgage banker? Drive around and look at For Sale signs or view properties online? Try to learn the ropes of filling out a real estate contract or get someone to do this for you?
You can save yourself a tremendous amount of time by following a step by step process when you decide to buy a new home. We’ve boiled this down to six key areas that will move you from daydreaming digs to happy homeowner.
Like the house itself, your search has to start with a solid foundation. Several months before you get ready to pull the trigger request your free credit reports and check your credit. Make sure that the reports are accurate and work on improving your score if they don’t look as good as they could.
Make a Checklist.
Why are you looking for a new home? You need to think about your reasons before you start looking. This can be anything from more space to a better neighborhood to lowering your monthly housing payment.
Knowing what you want is going to help everyone involved in the process from here forward. Your mortgage banker will know about how much you’re looking to spend and your realtor will know where to target your search.
Get Your Pre Approval.
Many buyers try to get preapproved later in the process, but this is a mistake. Homes today don’t sit on the market long enough to finalize a preapproval process. Time is of the essence and not being preapproved upfront is a huge disadvantage.
Want to be seen as a serious buyer? Let a qualified mortgage banker review your paychecks, credit report, and asset statements and provide you with a quality preapproval.
Find a Realtor.
You can take the time to learn contracts and hunt for properties but why would you? A realtor can cut through red tape and move your search along much faster than you’d be able to on your own.
In fact, there’s a whole list of reasons to use a realtor as opposed to going at it yourself.
Look at Homes.
This is the fun part. Once you have a licensed realtor on your side they can locate properties and arrange the time for you to view them.
Don’t be frustrated if you don’t find your dream home right away. Instead, use each visit as an opportunity to revise your criteria and further narrow down your search.
Make an Offer.
Once you find a house and fall in love it’s time to make an offer. This is where your realtor really earns their commission by coordinating the appraisal, title search, and helping you navigate the choppy waters to calm closing.
Buying a home reads simple on paper, but it’s the little details where you can find yourself unexpectedly held up. You can make sure your home buying process is headache-free by assembling a qualified team from the get go. Start today by contacting one of Cendera’s Mortgage Bankers to discuss your prequalification.