Buyers
Most of today’s home buyers are experienced at Internet searches and start out browsing through the major sites offering properties for sale. Sooner or later they find one or two that stand out and the rush is on to get serious. Too many times these opportunities slip by simply because the next steps in the process took too long. Here’s a logical order to get things done for the best possible results.
1. Determine your target purchase price in advance. Unless you’re going to pay cash, find a good lender and submit the documentation they’ll need for the loan. Find out how much you can borrow based on the monthly payment you’re comfortable with.
2. Get your pre-approval letter and good faith estimate in hand before you start looking at homes.
3. Determine the type of property that best fits your lifestyle…condo, townhouse, single family house etc…
4. Determine the area where you want to live. Think about your commute and travel times.
5. Determine your must haves first, your wish list second. Consider your minimum space requirements, yard size, bedrooms and bathrooms, garage, etc.
6. Determine your target move in time frame. Can you wait out a short sale? Do you have a lease to consider?
7. Find a Realtor experienced in the type of property and price range you have in mind. Meet them personally before you head out to preview homes.
8. Discuss with your Realtor how the process of purchasing a foreclosure, short sale or a regular sale differ.
9. Determine your schedule… when you’d be available to go preview homes. Be specific.
10. Ask for a sample copy of the state contract so you can review in advance what you’ll be asked to sign when you’re ready to make an offer.
These 10 points will help you move forward with the buying process and minimize the potential for lost opportunities. For more information or questions about the purchase process, feel free to call us. We’re available and easy to reach.
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