Home Buying Process - Pointers
Before you rush out to purchase a home, there a few tips that
might help you get a great deal on the home of your dreams.
First, before anything else, it would be in your best interests
to talk with a lending company and receive a pre-qualification
letter. This letter will let you know exactly what your maximum
mortgage amount can be.
Many times, the lending company will ask that you put up a "good
faith" payment that will be put in an escrow account; this money
shows the home seller that you are serious about purchasing
their home.
Next, you should have a home inspector to go to the home that
you wish to purchase. Even if the home seller and the real
estate agent already has one for you to see, you should invest
the money into getting a home inspector of your own. The
inspector will note any problems that he sees with the home in
the way of repairs and you should look over this very carefully
before signing any contracts. You do not want any surprises like
a bad foundation or a leaky roof.
Look for a location that fits your lifestyle, such as proximity
to schools, the beach, work, or any other activities that you
enjoy. You may wish to find a home close to the elementary
school, near a shopping centre, or even away from all the noise
of the big city. Visit the neighborhood at different times
during the day and in the evening and night to see what goes on
in the neighborhood before you purchase. Do not take anyone's
word on how quiet the neighborhood really is. You can also find
out the crime statistics in the area to ensure you are seeking a
home in a safe area.
You can talk with a realtor and learn what homes are going for
in the same neighborhood with similar amenities to make sure the
home you wish to buy is not overpriced or under priced. If the
property is way under market value, you should try to learn why
before signing any type of contract. If the property is
overpriced, you can always try to negotiate with the seller to
try to get them to lower the price to a more reasonable price.