| There are some simple steps that homebuyers often | | | | time to view several homes before you make an |
| miss when looking for their new home. Taking the | | | | offer so you know exactly what is on the market. |
| time to consider these steps can save you | | | | Be certain you are making a wise investment. |
| thousands of dollars, but more importantly, can | | | | 5. Make your offer contingent upon a home |
| smooth the process of buying a new home, saving | | | | inspection and ask the seller to make the required |
| time and money, as well as alleviating stressful | | | | repairs. Hire a professional to inspect every aspect of |
| situations in advance. | | | | the home thoroughly. This can save you thousands |
| 1. Begin by being up front and honest with your | | | | of dollars in costly repairs and many headaches in the |
| REALTOR and lender about your credit history. Your | | | | future. A good inspection can also allow you to |
| credit, whether good or bad, affects everything from | | | | negotiate for any repairs prior to closing. If the seller |
| your down payment to your interest rates. Your | | | | is not willing to make the necessary repairs, remind |
| REALTOR or a professional mortgage consultant can | | | | them that the lender will also require the home to be |
| often advise you as to how you can get credit | | | | in good condition before they make a loan for the |
| problems cleared up or completely eliminated from | | | | purchase. |
| your credit report before you apply for financing or | | | | 6. Take into account your present homeowner or |
| make an offer on a new home. | | | | renter status. If you already own a home and must |
| 2. Getting pre-qualified for a loan by a professional | | | | sell it before you buy a new one, it is best to get a |
| lender before you begin your search for a new home | | | | REALTOR to do a complete market analysis on your |
| will allow you to know in advance exactly what kind, | | | | present home. This allows you to know how much |
| and how much, mortgage you can afford. This | | | | you can sell your current home for before you make |
| makes it possible for you to make an offer on your | | | | an offer on a new one. If you are leasing or renting, |
| new home with confidence that enough funding is | | | | the lease's expiration date will give you a timetable |
| available. | | | | for your new purchase. Review this with your |
| 3. If the seller does not offer a home warranty on | | | | REALTOR well in advance of when you want to |
| the house you want, ask your REALTOR to make it | | | | move. |
| a part of the written offer that you make. A home | | | | 7. Choose your agent wisely. Working with a full-time |
| warranty can save you thousands of dollars in | | | | professional real estate agent is a must. Ask |
| repairs, and can often be obtained for a very nominal | | | | questions of your agent. Find out how knowledgeable |
| annual fee. A standard warranty covers the electrical, | | | | he or she is about houses currently for sale in your |
| plumbing, heating and air conditioning systems as well | | | | price range and also of houses that have recently |
| as major home appliances. | | | | sold. Can your agent recommend a good lender that |
| 4. Ask your REALTOR for a market analysis of the | | | | has the reputation of excellent customer service and |
| home, in comparison to similar homes in the | | | | low rates? Does your agent ask questions of you to |
| neighborhood or throughout the city, before you | | | | have a full understanding of what you are looking for |
| make an offer. A home is not just a place where | | | | and to help you get the most home for the money? |
| you live – it is also an investment. Take the | | | | |