There are a lot of moving parts to buying a home. Just like a 1,000-piece puzzle or a family pack of Legos™, it can be daunting at first glance. Rely on your circle of experts: your trusted agent, your loan officer, and your closing attorney. Your agent is there to help you piece it all together.
WHAT DO I NEED TO DO TO MAKE AN OFFER?
Consider this scenario:
A seller receives two similar offers. The first offer includes a copy of a mortgage pre-approval letter for the amount of the offer. The second offer doesn't include a pre-approval offer. Which offer do you think the seller will consider first?
Do yourself a huge favor and get pre-approved for a mortgage. To be an effective house hunter, getting pre-approved is extremely important for two reasons: First, you know exactly what you can afford. Second, it boosts the leverage of your offer.
HOW MUCH DOES IT COST TO BUY A HOUSE?
Be sure to ask your trusted advisor, your real estate agent, about all of the possible costs involved in buying a home. You will need more than just the down payment money, and funds for a moving van, you will also need enough extra money to cover most if not all of the following: closing fees, appraisal costs, property taxes, PMI, house insurance, escrow, inspection costs, HOA dues, repairs/upgrade costs, and utility deposits. Your RealtySouth agent can provide you with a sample net sheet based on figures that you discuss together.
IT'S HOUSE HUNTING TIME!
Go Explore. Behold Options. Love Home. Be sure to ask your agent about Coming Soon listings so you can be prepared to see them as soon as possible. It's a seller's market, meaning homes don't stay on the market long if they are priced to sell, and sellers may receive multiple offers for consideration. It's time.