Things to Remember when Buying a Home…
After Pre-Qualifying for a mortgage, don’t make major purchases on credit or use your available cash for down payments. The lender will be required to pull your credit report a second time right before you close.
Be sure to ask about Home Warranties and Home Inspections. These will save you major headaches down the road!
Before you even look at even one home, pre-qualify with a mortgage lender so you don’t set your expectations too high or too low when viewing properties.
Assess your needs v. wants on a sheet of paper. Divide the paper into two sides: on one side make a list of features that you HAVE to have and on the other a list of features that would be nice to have.
Keep a record of all your documents from beginning to end, this will help you in preparing your taxes and when you decide to sell your home.
Be realistic when negotiating with the seller, evaluate recent trends in the market and the average sale price v. listed price in the area. Your agent will show you data on the MLS for comparisons. Remember… you and the seller set the price, not your agent or theirs.
If you know you have credit complications, it is a good idea to meet with a qualified mortgage lender to assess your situation and create a strategy for cleaning up your credit, your lender will advise you on what steps to take in order to qualify sooner for a loan.
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