Get Ready to Buy
The 1st step for many buyers is to figure out how much you can afford.
Even if you know what you can afford, the easiest and best way to
be "ready" to buy is to get approved for a mortgage ahead of time. With a
mortgage “pre-approval”, a lender gives a commitment to make you a loan.
Getting a pre-approval does involve giving permission for a credit inquiry, but it
will place you in the strongest position with the sellers. A “pre-approval” does not
obligate you to obtain your mortgage loan from the lender that offers you a pre-
approval letter. At this point it is wise to do some homework and benefit from the
services of an experienced, ethical mortgage broker.
- Create your Home “Wish List” – This includes the location, the type of home single, townhouse, condo), the architectural style, the number of bedrooms and bathrooms, the lot size and the age and condition.
- Work with a buyer’s agent who knows the neighborhoods you are interested in living. Look for experience and good chemistry in the Realtor you choose.
- Search Homes that are for Sale. Although your Buyer’s Agent will narrow down the list of appropriate properties for you to view, you can also browse listings online and discuss them with your agent.
Once you’ve completed the above your experienced buyer’s agent will walk you through and explain the steps necessary to assist you with the purchase of your new home.