Recipe for a Successful Purchase
Buying a home IS one of the most significant investments you will probably ever make. Choosing your home means you are most likely investing a large portion of your assets and future income. Doing your homework in the beginning will save you stress in the end - guaranteed!
Step 1: Get pre-approved by a mortgage lender - after getting 3+ estimates from other financial institutions. it's a free, no-obligation process that does not impact your credit score.
Step 2: Location, location, location. Determine what area best suits your needs, considering factors that may be important to you: drive to work, schools, proximity to water, and maximizing re-sale value are a few.
Step 3: Take the time to interview a few Realtor until you find one you feel comfortable working with. They should specialize in the type of housing and general area you are looking in.
- At this time, ask your Realtor for a sample copy of the most current Sale and Purchase Contract used by the Realtor organization where you are looking.
Step4: Prioritize a list of features you most desire in a home or investment property.
Step 5: Get on the Internet and do a preliminary search comparing prices and features in the location(s) you want.
Step 6: Select 5 -7 properties to begin previewing with your Realtor.
Step 7: Your REALTOR should be able to supplement your search with multiple other properties that meet your requirement.
Step 8: An earnest money check will be required when you make an offer. Remember: the more you put down, the more a seller will look favorably upon your offer.
Step 9: Your REALTOR explain home inspection and loan timelines that must be met after your offer has been accepted.
Step 10: When the Close of Escrow and recordation occurs, congratulate yourself for having achieved one of the American Dreams. You are now a homeowner! |