The 10 Steps of Purchasing

• What geographic area(s) is of most interest to you?
• What particular types of homes are of interest?
• Is a view important? Do you want a formal neighborhood with amenities
• How many square feet or bedrooms do you need?
• What is your annual budget?
• Is future expansion important?
• What are your transportation needs?
• What kind of image would you like to establish?

More than 4 out of 5 home purchases are completed with the assistance of a real estate agent. Working with a Realtor can make the home buying process much easier.
Check their credentials and their experience. Find out how long they have been in the business and how may transactions they typically complete. Realtors who have done hundreds of transactions are the ones you should consider as they have the experience behind them to make sure your purchase is successful.

The location of your home is important from both a buying and a future resale perspective. The convenience and amenities available in a neighborhood are critical in evaluating a neighborhood. Some people prefer to be close to their place of employment, their place of worship or shopping. Schools, parks and recreational facilities may be more important to others. For others, the need to be near public transportation or to have easy access to highways or interstates may be a top priority. There are several factors that affect a buyer’s selection of a neighborhood.

When you begin the home shopping process, it helps to know your purchasing power. Otherwise you can easily wind up spending time looking at homes priced above or below your means—resulting in wasted time and disappointment. You can avoid the situation by getting pre-qualified or pre-approved; however, the two do not mean the same thing. Your Realtor will be able to help you select a lender who will work with you on the process.

First-time buyers are often eager to buy a house and frequently fail to take the time to do a thorough job of evaluating each house. The average first-time buyer looks at 10 – 15 homes before selecting one to buy. You should be well prepared for viewing appointments to save time and aggravation.

There are 8 critical factors buyers must consider when putting together their offer and deciding upon their offering strategy. These factors may equate in to thousands of dollars of savings if handled properly.

Your real estate agent will make arrangements to present the purchase agreement to the seller(s). You want your offer presented to the seller(s) as soon as possible. It’s perfectly normal for buyers to feel anxious while waiting for the purchase agreement to be presented; but remember, the stronger your offer, the more likely the seller(s) will accept it. Strategy and patience are critical at this stage!

A good home inspector can help you objectively evaluate the condition of a property and provide you with maintenance tips for your house. Keep in mind, no house is perfect, and the home inspector’s job is to identify major hidden defects, not minor flaws. Selecting the right professionals to make these inspections will prevent buyers from buying a bad property.

Your home purchase will involve countless details – items to discuss with your Realtor, provide to your lender, and arrange as you progress toward your new home. Using checklist will help you keep track of the “must do” items before the move.

How soon you take possession of your new home will depend on what you have agreed to with the seller – specified in your contract. There are other important things that need to be reviewed with your closing attorney such as the survey, the title itself, and the closing statement which is a break down of all of the charges and credits associated with the transaction.