| 1. |
Talk to a mortgage broker or lender to get prequalified for a mortgage. This will help you to determine your price range so that you don’t waste time looking at homes that you can’t afford to buy. |
| 2. |
Find a good real estate agent who specializes in the area where you want to live. Acquaintances who purchased recently are a good source of recommendations. |
| 3. |
If you are looking in more than one area, use one agent for each marketplace. You’ll get the best service if you work with a real estate agent who knows his or her market well. |
| 4. |
As soon as you decide that you definitely want to buy a home, get preapproved for the mortgage you’ll need to complete the purchase. A preapproved buyer has lender approval for a mortgage. Preapproval puts you at an advantage in negotiating a home purchase. |
| 5. |
Use the Internet to save time in your home search and to educate yourself about local property values. See as many properties as you can, either in person or on the Internet. Ask your agent to follow up and let you know the selling prices of listings you’ve seen. |
| 6. |
Ask your real estate agent to prepare a Comparative Market Analysis of a home you’re interested in buying. This will help you to determine what price to offer. |
| 7. |
Read the purchase contract and all documents you sign during the course of your home purchase-including the fine print. |
| 8. |
Don’t be shy about asking questions. Most people buy homes infrequently and the real estate business is constantly changing. It’s natural to have questions. Just be sure you get the answers. |
| 9. |
Hire qualified professionals to thoroughly inspect the property before you complete the purchase. In most cases, an inspection contingency should be a part of your purchase contract. |
| 10. |
Have your loan agent or real estate agent prepare a closing cost estimate for you before you enter into a contract to buy a home. |
| 11. |
Don’t assume your real estate agent is a mind reader. Good communication is a key component of a successful real estate transaction. |
| 12. |
Stay involved throughout your home purchase transaction. Let you agent know that you want to know about any potential problems sooner rather than later so that you can work on a speedy solution. |
| Have fun. And, happy home buying. |
