Houses for sale

Buying a home is a dream most everyone shares. Buying a home means you now have a place to call your own away from the outside world. You will be able to decorate or add on to your home to suit your personality. This is the place you will be able to create wonderful memories with your family and friends. When you and your family are finally ready to buy a home, you will want to consider a few steps in the process.

 

First Step to Buying a Home

 

The first step to finding the home of your dreams is getting your financial situation in order. This step is the longest and is the most rewarding in the end. You will want to minimize any outstanding bills and build a savings account for a down payment.

 

Outstanding bills include credit card debt, any bills that have gone to a debt collector, as well as any additional bills that are not necessary to live your life. Once you paid off the outstanding debt, you will want to build your savings account for a down payment. Generally, home mortgage lenders like seeing the savings account be used as little as possible. This will reassure them you have financial stability and come across few unexpected financial emergencies. It is recommended for a person to save up around 10% of the sale price for a down payment. There are times the full 10% will not be necessary, but it shows you are financially prepared.

 

Once you have your down payment saved, you can meet with a home mortgage lender to obtain a letter of pre-approval. This letter is one you will take to a realtor showing your price range. It also shows the seller you are a serious buyer. Regardless of the maximum amount you are pre-approved for on a home mortgage loan, it is advised to find a home in a lower price range. If you find a home in a lower price range, the payments will be more comfortable for your budget and you will still get to enjoy life.

 

Finding A Realtor

 

Finding the right realtor to help you locate and purchase the home of your dreams is a huge step in the process. You want to make sure the realtor understands what it is you want, the price range you wish to stay in, and the part of town you want to live in. The right realtor will work hard matching your specific criteria of your dream home to the houses for sale available on the market.

 

Once you found the right realtor, then you will have to sign some paperwork agreeing to their terms of service during this time you are house hunting. Once you are officially the client, the realtor will match specific homes to your criteria and show them to you around your schedule availability. They will also give you ideas of what you can do to improve the home or who you can contact if you need more specifics on the homes maintenance in the future.

 

What to Look for in A Home

 

Regardless of your specific requirements for your dream home, you are going to want to look for a few things in each of the houses for sale. The first item to look at in a home is the foundation. If the foundation around the home has cracks, is uneven, or any other visible damage from age, this is going to cost a significant amount to repair.

 

You will also want to look at the plumbing and electrical in the home. If the pipes are damaged, it will most likely need to be replaced right away before more damage to the house is done. The electrical system of the house is vital to its function throughout the year. If the electrical system is damaged, you will be at risk for expensive repairs or worse, a fire.

 

Once You Found the Right Home

 

Once you looked at the houses for sale that match your criteria and found one you are interested in, this is where the realtor does the work for you. You will place a small amount of money down on the home to ensure the home cannot be bought from under you by someone else searching the houses for sale. The realtor will negotiate with the seller of the home or their realtor to have the required tests done on the home, as well as any changes you want done to the home or price of the home for you to buy it.

 

While the realtor is working hard on the bargaining for you, it is your responsibility to meet with a home mortgage lender to obtain a home loan. Once you obtain the home loan, the mortgage lender will be in touch with your realtor to help get the rest of the homes information to finalize the sale. Once all the information is in order between the lender and the seller, you will be able to close on the home.

 

Real Estate Team

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