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
Deciding to Buy
Why Do You Want To Buy?
Are you tired of paying rent?
Have you decided to pay your own mortgage and not your landlord’s?
Have you outgrown your current home? Are you looking for an investment?
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.
Preparing to Buy
You will need these items to secure financing for your property.
Recent pay stubs
Tax returns for two years
Copies of leases for investment properties
401K statements, life insurance, stocks, bonds, and mutual account information.
Be Careful With Your Finances.
Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.
Don't Apply for Instant Loan approval from online lenders.
I have a list of local lenders that will work best to help secure your new loan.
Choose an Agent
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. I will guide you through this process!
Here are some factors to consider when choosing your real estate professional:
Look for a full-time agent – one who has experience completing transactions similar to yours.
Interview a few agents: Are they familiar with the area in which you are interested?
Ask how much time the agent will have for you, and if they are available at night and on weekends.
Ask about their credentials and education: A good agent will continually strive to improve and gain knowledge of the latest real estate trends and hold the highest designations in their respective fields of expertise.
Does the agent return your calls promptly? Time is money when attempting to buy a property.
Ask for a list of properties they have sold or a list of references.
Choose an agent who listens attentively to your needs and concerns. Pick an agent, with whom you feel comfortable.
Time to go Shopping
Take a Drive.
Get to know the neighborhoods, complexes, or subdivisions, which interest you. Drive around and get a feel for what it would be like to own a property in the area. Start getting a sense of the properties available in those areas.
Narrow Your Search.
Select a few properties that interest you the most and have your real estate agent make appointments to visit them. Ask your real estate agent about the potential long term resale value of the properties you are considering.
Time to Buy.
Once you have picked out the property you want to purchase, your real estate agent can help you make an offer that the seller will accept. A good agent will investigate the potential costs and expenses associated with the new property. An agent can also help you draft your offer in a way that gives you the advantage over another offer.