For Buyers
Get a Pre-approval for a mortgage before you make an offer. When you are trying to buy a house in a competitive market, your offer to purchase should contain as few conditions as possible. An offer that is conditional on obtaining financing is often a deal killer. The seller may accept a competing offer for less money rather than take the risk that you won’t be able to raise mortgage money. A pre-approval letter from your lender tells the seller you are ready and able to commit.
Save enough money to cover closing costs. You’ve put together a down payment. Be aware that there is also a long list of expenses you may have to pay at closing, depending on where you live and who your lender is. Closing costs can be as high as six percent of your loan. Get a Good Faith Estimate of the loan-related fees you’ll have to pay. Get your real estate agent to compile a list of other expenses.
Know the date you take possession of your new home and your moving date. If possible, avoid a situation where you’ve got to camp out with relatives or find a short-term rental because you must vacate your old house or apartment before you can move into your new digs. Moving once is enough.
Insist on a home inspection. The first really cold day you spend in your new house is way too late to find out that the furnace doesn’t work. The one condition you should always include in an offer to purchase is a home inspection. Find out how much it will cost to fix any defects and have the seller fix them before you agree to buy or deduct the estimated cost from the final price you offer. If the seller won’t help bear the costs and you want to go ahead with the purchase, make sure you can afford the necessary repairs on top of your mortgage.
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Buying a home is an exciting time in one's life. Making the smart move of choosing a REALTOR® is your first step to ensuring that your new home and community meets your needs. My services and experience range from financial aid to helping you find the home that best suits you and your family. For your convenience, I also provide listings by email. I pride myself on repeat business and hope you'll come to understand why.
How I Can Help
Before you start looking
Closing Costs
- Assure that you see all the properties in the area that meet your criteria.
- Guide you through the entire home buying process, from finding homes to look at, to getting the best financing.
- Make sure you don't pay too much for your new home and help you avoid costly mistakes.
- Answer all of your questions about the local market area, including schools, neighborhoods, the local economy, and more.
Before You Start Looking For Your New Home:
- Check your credit rating. Straighten out any errors before its too late.
- Determine a comfortable monthly budget for your new purchase, including down payment and monthly payment.
- Find a loan program that meets your needs and get pre-qualified (preferably pre-approved).
- Choose a REALTOR® that you trust and who understands your needs.
- Determine what neighborhood best matches your needs.
- Identify important features you need your new home to have.
- Lender fees include charges for loan processing, underwriting, preparation and establishing an escrow account.
- Third-party fees include charges for insurance, title search, and other inspections such as termites.
- Government fees include deed recording and state & local mortgage taxes.
- Escrow and interest fees include homeowner's insurance, loan interest, real estate taxes, and occasionally private mortgage insurance.
