Know
what you want. The last thing you need is to close a deal
and realize you bought a house you don't want. Ask yourself
what you're looking
for in a home, before you shop. Think about size, commute
time and necessary repairs.
Be
a smart consumer. Know how to shop for a home loan that's right
for you. We can assist you in learning the financing basics
- contact us!
Get
pre-approved. This takes very little time and lets you know
the price range that fits your lifestyle.
Keep
your debt load to a minimum. Don't make major purchases
or incur any additional debt until after your purchase.
Pay down credit cards and don't apply for new ones. Remember,
financial institutions evaluate your financial situation
on your gross monthly income. Your total monthly house costs
should not exceed 28 percent of your gross monthly income.
Be
prepared to view new properties quickly. Sometimes homes sell
quickly, so be ready to make fast decisions. Be accessible
to change the terms.
Include
a substantial earnest money deposit. Sometimes offers are
accepted based on the amount of the deposit.
Try
to minimize the number of contingencies. Fewer contingencies
mean a stronger offer.
Hire
an inspector. A professional building inspector or appraiser
will make sure the house of your choice is in satisfactory
condition
Check
zoning regulations and covenants. Good residential
neighborhoods will be zoned to keep out commercial
and industrial users. Read any restrictive covenants
and make sure they fit your lifestyle.
Request
an updated property survey. Be sure it clearly
marks boundaries. Check for problems.
Make
sure you know what stays or goes. Your contract
should be very specific about which items (appliances,
etc) are included in the sale.
Get
agreements in writing. Make certain verbal agreements
are written into the final contract to avoid any
stressful and expensive issues later.
If
you have further questions we are happy to assist you! Contact
us.
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