If you’re buying a home in 2013, there are certain things you want to have in place that will ensure you get the home you want. Knowing about the process and having the right documents ready can really make this transaction a smooth one!
Here’s a few helpful tips:
- Run the numbers. Put together a financial plan to determine whether you can really afford to buy. It’s important to understand how much home you can afford.
- Save 20 percent for a down payment. Keep your down payment fund in cash or cash equivalent accounts, so that market movements don’t thwart your plans.
- Get pre-approved for a mortgage. Pre-approval is a good gut check on your price range for a home. The best way to start is to ask for referrals for a good mortgage broker and to shop around with banks and credit unions and find out the total costs to you at the closing.
- Find a Realtor. It’s the best way to go. At Charles Rutenberg, buyers’ brokers are available to represent you, the buyer, The most important qualities in brokers are honesty, experience, and good connections with the industry to help you.
- Hire a real estate attorney. Hire your own attorney to help draft all documents and to ensure that your interests are being represented at every step of the process.
- Get an appraisal. An appraisal will determine the market value of the property and ultimately will be used by your lender to determine the amount of your loan.
- Schedule a home inspection. Have an engineer walk through the premises with you to see what shape the house is in. If a problem arises; it can often be addressed with an adjustment in price.
- Start with a fair offer. The offer should be based on similar houses sold in the neighborhood in the past six months. Your agent will help you with the process, but the offer should include the price you’re willing to pay for the house and your financing terms.
If you have any questions or need assistance call or email Charles Rutenberg Realty Long Island. We can help.
Call us at 516-575-7500 or email us at firstname.lastname@example.org.
Visit us online at www.crrli.com
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