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Before you start looking for a home,
get "pre-approved" for a loan. |
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| Seller's want
to know that you can in fact get the loan before they
consider your offer. it is especially important in
an active market that you be ready with a "pre-approved"
letter from your lender. |
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| You will
need a "down payment". |
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| Down payment
requirements vary from 3% to 20% or more depending on
the type of loan. |
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| You will
need funds for "closing costs". |
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| These are costs
for services related to the purchase. They include
things like: appraisal, inspections, mortgage
insurance, home owner's insurance, recording fees and
lender fees. Consult your Lender for an estimate of
these costs. |
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| Bring a
digital camera. |
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| Take photos of
your favorite features in each home. It is
sometimes difficult to remember specifics after you have
looked at several homes. |
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| Go back for
a 2nd look at your favorites before making a decision. |
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| Trust your
instincts. |
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| It does not
matter how good a deal it is, if you don't feel good in
the home. |
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| Use a
Realtor that you feel comfortable with. Consider
having that agent represent you as your "Buyer's Agent".
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Some of the
services you can expect from a Buyer's Agent, that you
might not be able to obtain on your own include:
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*Hearing about listings
before they are available to the public.
*Comparable Sales data.
*List price / sales price ratios.
*Preparing a strong offer that presents the Buyer in the
best light based
on market demands. |
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| TIP:
Experience is important because it means an agent
should be able to anticipate problems and prevent them
from manifesting. |
