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First time home buyer and Disoriented?
Don't worry, we all start somewhere, here are some tips:
- Get qualified: to do so, you can start walking in any major bank branch, (usually their hours are office hours) or you can call a Direct Lender (those guys work extended hours) if happens to run your credit at certain point of the conversation, make sure you get a copy of your credit report(you are or will be paying for it, so is yours) to avoid to run it again and again as you shopping around, because it decrease your points and will affect your interest rate at the end.
- Once you are qualified, you know the amount, the interest rate and your payments along with any insurance, property taxes, paid points, or association fees, we start hunting for homes
- At start looking for homes, we will try to see the most available homes in your desired area either for sale by owner, banks or open houses to make sure you walk away with the best deal at that moment
- You need to know that all the opportunities for you may be hidden, this is why is necessary to analyze particularly the ones you liked most in regards the value of that house you fall in love before make an offer and see if this is the one.
- At the time you decide to make an offer, it has to be based on the value, desire, market conditions and offers competing against you.
- We need stay together at this crucial point because you don't need to overpay or get less for your money ( here is where I pay you back when you hire me), so communication between you and me is the key to success.
- After your offer get accepted by the seller, we have to stick in the times stipulated at the purchase contract because you do not like surprises out of space and time. Believe me, this is very important.
To be Continued. Alvaro Lozano Realtor®, e-Pro, HAFA, GREEN.