A Few Pointers On Purchasing a Home

Taking the commencing steps to becoming a home owner can be an electrifying, exciting, and somewhat scary time for individuals. As it should be, I mean this is only considered to be one of the BIGGEST investments that you’ll ever make. With this stimulating new chapter ready to unfold, it’s important for homebuyers to fully understand the ins and outs of purchasing a home in today’s market. Having this knowledge can save you both time and money when it comes to sticking thee key in your dream home. Below I have highlighted some key topics to keep in mind when you embark on the thrilling journey of becoming a certified, official home owner. I hope that all my readers enjoy this article and achieve everything that you are after in 2016!

Get Preapproved

Attaining a mortgage pre-approval should be one of the first things you do when you become serious about purchasing a home. Ask your real estate professional if he/she has referrals to local lenders in the area, they should, and if they don’t well….let’s just say I wouldn’t call them a professional. Much like anything in this world, there will be good and bad lenders in your area, do your homework and choose wisely. Some lenders close in a breeze and on time, while others, not so much. The key reasons for a reputable lender is so you can find the loan product that best fits your needs and also so you’re not wasting time looking for homes that you’re not qualified for.

• Find a Real Estate Professional
• CAVEAT: This should be no surprise but I’ll say it anyways… all real estate agents are NOT created equal. With that being said, it’s your duty and obligation to find a Buyer’s Agent you can trust and feel confident in getting the job done in a distinguished and professional manner. Before representing any buyers I always ask potential clients this simple, yet uncommon question, “What’re you looking for in the perfect real estate agent to make the process as easy as it can be for you?” Find an agent who is willing to do whatever it takes to make sure you’re treated with the respect and service that you deserve. So to all my agents out there, find out what THEY (the buyers) want, treat them with the most respect you possibly can, and then mold yourself into being their “perfect real estate agent.” It’s really that simple. While a lot of people think real estate professionals are a waste of money, I can assure you they’re worth every penny, especially if you hire the right one. Our job is to be of service and take the headache and the stress completely out of the equation, giving you the luxury of going on about living your day to day life with the peace of mind knowing that a professional is working day and night to help you accomplish your goal of becoming a home owner.

• Discover your options, find what you like, and make an offer
• Your realtor will (or should) set you up with a client portal that has all the homes in your search criteria derived from the Multiple Listing Service (MLS). Don’t make the process difficult: Give your realtor the criteria/preferences you’re looking for (with the price range you’re working with); have him/her send you weekly houses on the market that match your criteria; pick out the ones you want to see and have your Realtor show them to you... The sooner the better, especially when homes are flying off the market, like we’re seeing happening in this real estate shift. Whatever you do, do not feel like you have to make a decision right away. Take a deep breath and TAKE YOUR TIME… this is a huge commitment and with options readily available in today’s market, you should make sure you find the home that meets every end of what you’re looking for. As a potential homeowner, rest assured that your Realtor will act on behalf of your best interest throughout the entire process. Meaning he/she should negotiate the absolute best terms and pricing for you, the client. If at any time you feel this is not the case, do not feel hesitant to terminate the buyer’s agreement and find someone who will give you the respect and professionalism that you deserve.
• Home Inspection
• Completing a home inspection is utterly important when it comes time to ensure that you are making the right investment choice. Here are some items you should consider inspecting before purchasing a home.

Plumbing

Electrical

Roof

Infestation

Air Conditioning

Heating

• Request for Repairs and Final Negotiation
• Subsequent to revising the home inspection report you will have the chance to ask the seller for compensation due to ‘latent defects’ or repairs that were unknown and/or undisclosed at the time the initial purchase agreement was completed. Keep in mind that a seller can refuse to work with the buyer on repair issues at risk of the buyer seeking other options of purchasing a home.
• !!CLOSE ON YOUR NEW HOME!!

Now (drum roll)… ladies and gentlemen, the part you have all been waiting for is finally here, CLOSING TIME! You are now just steps away from sticking a key in your new home!

Simply show up with your real estate agent and the Title Company will walk you, step-by-step, through the settlement statements and procedures of finalizing your new purchase. This can be a bit intimidating and overwhelming for your first time but keep in mind that these companies are here to help you and to ensure that you are being treated with the utmost integrity. In other words, if you have a question, don’t be afraid to ask. There are no stupid questions when you’re purchasing one of the largest investments of a lifetime. Once the property has been closed and funded, you are now officially a certified homeowner! You can now enjoy the freedom of your new investment knowing that you’re building yourself equity and not somebody else!

I hope you have enjoyed this brief description of buying a home. I wish you, your family, and your friends all the best of luck for your 2016 endeavors!