FIRST TIME HOME BUYERS.
FIRST TIME HOME BUYERS:
You’ll need money for a down payment, closing costs and escrow for insurance and taxes. All of these costs add up to more than most buyers realize.
2. CREDIT SCORES: Unless you already have great credit, take steps to improve your credit score. Pay all of your bills on time, do not make any major purchases and do not close any credit cards. A better credit score equals a better interest rate which results in a lower house payment.
3.CALCULATE WHAT YOU CAN AFFORD: Use a mortgage calculator to determine what you can afford for a monthly payment. (www.realtorkesha.com ,mortgage calculator set up on my website)
GET PRE-APPROVED FOR A MORTGAGE: Connect with a trusted mortgage lender to obtain pre-approval for the mortgage before you begin your search. This process will help determine how much you can spend on a house and still get financing. You will need a confirmation letter that shows you qualify for a mortgage when you submit an offer on a home or condo.
DECIDE WHAT TYPE OF HOME YOU WANT: Do you want a house or a condo? Where do you want to be located? Create a check list of items you think you “must have” in a home and also create a list of items that would be “nice to have”.
CHOOSE A REALTOR: Choose a Realtor to guide you through the process. A Realtor will help you find a home that fits your needs and make sure you avoid mistakes in the purchasing process.( Call or Text me today 404.861.2344 or email at firstname.lastname@example.org)
VISIT HOMES: Your Realtor will do all the work to identify homes that fit your interests and they’ll make appointments for you to go visit the homes. Take photos and notes so you can reference them later.
NARROW YOUR CHOICES: Start eliminating neighborhoods that don’t fit your criteria. Drive by those that you are interested in during the day and night to gauge traffic and noises.
MAKE AN OFFER: Again your Realtor will do all the work! Discuss what offer price makes the most sense based on what other homes are selling for in the community. Your real estate agent will prepare all the paperwork and act as the negotiator throughout the process. They will also ensure you have the appropriate contingency paperwork included in the transaction which would give you the opportunity to walk away from the transaction if an unexpected issue (Ex. The home needs a new roof) arises.
SCHEDULE A HOME INSPECTION: Your Realtor will help you identify a good home inspector to evaluate the home and determine if there are any issues. If the inspector does identify problems with the home, your Realtor will help negotiate a lower price on the home or ensure the repairs will be addressed prior to closing on the home.
FINAL WALK THROUGH: You will walk through the home one last time right before the closing. At this point you’ll be able to confirm the house still appears as it did when you agreed to the contract and any agreed upon repairs have been made. If it is a new construction home, you’ll be able to create a punch list of items that need to be fixed prior to closing.
CLOSE AND MOVE IN: Sign the paperwork, grab your new keys and move in! Congratulations, it is time to celebrate!!