Buyer's Checklist
Check Credit
The first thing that you'll want to do when you're ready to make the investment in a new home is to check your credit. Knowing your credit score will help you evaluate exactly how much home you can qualify for. Rather than blindly looking at all different types of houses across different price ranges, you'll be able to focus on exactly the homes for which a bank will actually give you a mortgage.
Get Approved
When you find that perfect home and you're ready to present an offer, having pre-approval for your mortgage will make a huge difference in having that offer considered or accepted by a seller. Remember, a seller could potentially get several offers at the same time from their agent. Anything you can do to make your offer stand out will help me negotiate on your behalf.
Get a Buyer's Agent
If you don't already have one, now is the time to get a buyer's agent. By having a formal relationship with a real estate agent who is working solely for you, you'll have a better chance of negotiating the right price and terms for the home you are looking for. And a buyer's agent will also walk you through the entire home buying process. Because the seller pays for the buyer's agent, it is really important that you take this step to ensure as much of a stress-free transaction as possible.
Once you have developed a relationship with a Buyer's agent, remember to carry his or her business cards with you and let other agents know that you are already working with a agent. This will prevent confusion regarding who is legally authorized to represent your best interests.
Narrow Focus
So you know your credit, you've been preapproved for a mortgage, and you have a buyer's agent. Now you need to narrow down exactly what features are important to you in your future home. If you are married, you and your spouse should independently create a list of things that each of you want in your future home, and provide this list to your buyer's agent. A good buyer's agent will know what is available on the market and will be able to begin showing you homes. Your list may look like this: partial brick exterior; fenced yard; minimum 1600 square feet; Eliot school district; minimum three bedrooms; maximum $200,000 list price. As you visit homes and discover what you like and dislike, you will refine this search further.
Research The Neighborhood
Once you have found some homes that you think you like, your next step will be to research the neighborhoods that these homes are located in. If you are or will be affected by the schools that service your neighborhood, it would not be a bad idea to call the county and find out which schools serve the neighborhoods you are interested in. The lines that are drawn to determine which schools will serve a particular neighborhood may change from time to time. By calling the school district you are more likely to find out about any future changes that may affect your potential neighborhood.
It may not be a bad idea to measure the commute time from your potential future neighborhood to your place of work at various times of the day. The bottom line is that researching your future neighborhood is a great idea before buying a home.
Visit Some Homes
Working with your buyer's agent, you'll be able to visit any home that is listed in the MLS. In all of the previous steps, the point was to narrow down your specific needs so that when it is time to start visiting homes, you have a very good idea of what you are looking for.
If you would like to learn more about the home buying process, please contact me and give me the opportunity to help you realize your dreams.
Use the form below to send Lori your MLS listing number or ask any questions. She will reply as soon as possible, please double check your email before submitting. An email will be sent to you confirming you submitted the form correctly.
