Choosing your real estate professional is, perhaps, the most important decision you will make when buying property. We believe the more you look around, the more you will see the value of working with our agents at Mingus Mountain Real Estate. These simple tips will help you find and purchase the home of your dreams more efficiently.
Find A Qualified Lender
If you’re a first-time buyer you can find more information here. Before you shop, be a smart consumer and learn the financing basics. Know how to shop for a home loan that’s right for you. Get pre-approved. This takes very little time and lets you know the price range that fits your lifestyle. Know what you want. The last thing you need is to close a deal and realize you bought a house you don’t want. Ask yourself what you’re looking for in a home, before you shop. Think about size, commute time and necessary repairs. Keep your debt load to a minimum. Don’t make major purchases or incur any additional debt until after your purchase. Pay down credit cards and don’t apply for new ones. Remember, financial institutions evaluate your financial situation on your gross monthly income. Your total monthly housing costs should not exceed 28 percent of your gross monthly income. In order for your agent to find the perfect property for you, be prepared to view a few different properties. Sometimes homes sell quickly, so be ready to make fast decisions with your agent. Be accessible to change the terms. Have instant access to your agent. Instant communication can mean the difference in purchasing the property of your choice. I will advise you on the current market in order to help you make an informed decision. Submit a strong competitive offer.
Include a substantial earnest money deposit. Sometimes offers are accepted based on the amount of the deposit. Try to minimize the number of the contingencies. Fewer contingencies mean a stronger offer. Hire an inspector to protest your investment. A professional building inspector or appraiser will make sure the home of your choice is in satisfactory condition. Check zoning regulations and covenants. Good residential neighborhoods will be zoned to keep out commercial and industrial businesses. Read any restrictive covenants and make sure they fit your boundaries. Check for existing conditions of which are unsatisfactory. Make sure you know what stays or goes. Your contract should be very specific about which items (appliances, ect) are included in the sale. To be legally binding, get agreements in writing. Make sure certain verbal agreements are written into the final contract to avoid any stressful and expensive issues later.