So you have made the decision to buy a new home! I’m sure you have a thousand questions as to, who to call, where do I go, do I need to find the house myself, how do I get the money, and many more. This is a tough process that is not for the faint of heart. I am going to give you a few tips on making the home buying process go smoothly.
Once you have decided you want to buy a house this is what you should do first:
- Choose a mortgage lender and get pre-approved. If you know the REALTOR® you want to use, he or she will point you in the right direction to get this approval. The REALTOR® will have names and phone numbers of lenders that you can call. A REALTOR® should give you a choice of lenders or you can go to one of your choosing. Let me recommend that you get a local lender. There is nothing wrong with lenders from out of town and I have worked with some good ones, but it just seems so much easier when everyone is in the same area.
- Find a REALTOR®. There are many ways to do this. You can check the phone book, internet, or get recommendations from friends or family. You should feel comfortable with this person and confident in their abilities. You will be spending a good deal of time with them so make sure you like them.
Once you are pre-approved, the lender will give you a limit as to what you will be able to borrow. At this point, you need to decide exactly what you want to spend. Believe me, just because you are approved for a certain amount doesn’t mean you have to borrow that total amount. Make sure you ask your lender what your payment will be under certain amounts. When you call your REALTOR® and let them know what price range you are looking at they will be able to do a search of homes in that price range. This process will save time and will not get your hopes up on houses that are out of your price range.
When you decide on a REALTOR®, be LOYAL! As a Buyer’s Agent, A REALTOR® can show you any property in the area regardless of listing office. This is the beauty of the MLS (Multiple Listing System). We have 100′s of people trying to sell each home! If you see a house that you would like to see, call your REALTOR®! You don’t have to call the REALTOR® on the name rider because your REALTOR® can show you any property. Don’t worry about hurting the listing REALTOR®’s feelings because he or she wants to sell the house too and everyone will benefit! If you haven’t got a REALTOR® yet and you do call off of a name rider that REALTOR® will be glad to work with you and sell you the house you are looking at or another home. The key here is to be loyal and allow a REALTOR® to work for you. If the REALTOR® is not active in trying to find you a house then you need to call and let them know you are not going to work with them and move to find another REALTOR®. I know this can be a hard task to complete, but it will help that REALTOR® out and they will not be bothering you anymore if they know you have moved on. The important thing is you let them know you have moved on.
Talk to your REALTOR® and tell them what you are looking for in a new home. The more the REALTOR® knows about you the easier it is to find the house of your dreams. The REALTOR® will search the MLS for a home for you and try to match your dreams to reality! Your REALTOR® can answer or find out the answers to all your questions. Use your REALTOR® and allow them to work for you. Your REALTOR® will assist you in negotiating a contract, working with the lender, working with the home inspector, and the listing agent to make this a smooth process.
I have always said, “buying a house is like a roller coaster-just enjoy the ride”!