When purchasing a home a lot of responsibilities start to
arise. You want to be as prepared as possible when you start the process to buy
your dream home. Follow this guide when you are ready to start the home buying
process. 1. Figure out how much you can afford. ·
Calculate your monthly income and debt ·
Use a mortgage calculator ·
Figure out what you want your down payments to
Get pre-approved from a Lender. ·
Speak to 2 or more Lenders ·
Shop for the best interest rates 3.
Determine what you want and what you need in a
Choose a location ·
Choose a type (single family, condo, townhome) ·
When your lender gives your pre-approval amount,
choose a price range ·
Choose a size 4.
Research your target neighborhoods ·
Look online for information on schools, crime
rate, zoning, etc… ·
Time your work commute ·
Find local amenities such as parks, shops, and
Work with a buyer’s agent who knows the
Get referrals ·
Consider working with an exclusive buyer’s
Look for hard working (get the job done kind of
attitude) and good chemistry 6.
Search for homes on the MLS and For Sale By
Browse listings online and save the ones you
Ask your agent to set up tours of homes that fit
your criteria. ·
Check the local news papers ·
Pick up flyers and attend open houses with your agent. 7.
Research each home you want to buy. ·
Ask you agent for comps to estimate the property’s
fair market value. ·
Ask the seller’s reason for selling ·
Review all property disclosures ·
Find out about liens, easements or other
restrictions (your agent will tell you this information) 8.
Make an offer and your agent will do the
Sit down and talk with your agent about
determining the right purchase price. Never start with a low ball offer, it
will offend the sellers and they might not even look at your offer. ·
Include contingencies like financial, inspection, or appraisal. ·
Spell out any special requests and repairs you want
included in the sale. ·
Determine an earnest money amount. ·
Define a move-in date. 9.
Finalize the deal ·
Get the home appraised. ·
Get a professional home inspection ·
Use the appraisal and inspection reports to
re-negotiate if necessary ·
Choose a home insurance company ·
Complete the loan process with your Lender ·
Do a final walk-through to make sure everything
is up to par before your closing ·
Set aside cash for the closing costs and down
payment (if the sellers are not paying the closing costs). 10.
Close the deal ·
Review the settlement document at least 2 days
before closing . Get a cashier’s check for the amount you need to
bring to closing, including the down payment and closing costs.
Author:Kelsey Rorabeck Phone: 715-529-1410 Dated: May 21st 2014 Views: 3,352 About Kelsey: Kelsey was a student athlete for 4 years at Augsburg College and received the Joyce Plaff (scholar a...
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Whether you are buying or selling your home, the 'Rorabeck Real Estate Group' with Keller Williams Realty Integrity WI/MN will make sure your experience is a pleasant one. We pride ourselves on our close to 30 years of experience and our superior customer service within St. Paul, MN, Hudson, WI and the surrounding Western WI areas. Contact us for your home buying & selling needs. "Who do ya know wants to buy a home?"
""Ciara is and was a professional throughout the process of looking and finding my family a home. She remained calm, when I was not. Always answered my questions and phone calls. I enjoyed working with her. Thank you, Ciara!""