Buying a home can be an exciting time as it is the realization of a dream come true. It is one of the best ways to build wealth and invest in your future. The reasons for buying property are as numerous as the people buying, but it is usually one of the largest purchases you will make in your lifetime. Below are a few things to consider as you prepare for this journey. When we meet in person I will share a much more in depth review of this process and answer any questions that you may have.
Saving for a down payment and reviewing your financials to determine your monthly budget are the most important first steps. Once you have established this it is time to connect with a mortgage broker to see what you can afford.
If you are planning on getting a mortgage, connecting with a mortgage lender can help you determine how much you will qualify for. Based on your financials and credit history, a mortgage lender will furnish you with a letter stating your qualifying amount. This is an important part of an offer you make as it proves your financial ability.
Choose an Attorney:
If you do not already have an attorney, now is a good time to research a few. Let them know you are in the market to purchase a home and decide on who you will feel most comfortable working with so you will be ready to go once your offer is accepted.
You may have already begun your search online and you may have even ventured out to a few open houses. I will help you focus your search and locate properties more efficiently by setting up a real-time search for you in MLS, using my network and local market knowledge, from there we will visit properties that match your criteria.
Offer, Purchase & Sales Agreement, Closing:
Since all of your ducks are in a row, when you find your home we will be ready to put in an offer quickly. It is important in any market to be as prepared as possible in order to present a strong and appealing offer. Depending on the terms you agreed upon, the following weeks will include a home inspection, review of documents, signing the P&S, submitting your down payment, securing a mortgage – and finally the closing!
The above is just an outline of the process. I am happy to answer any specific questions you may have about any part of the sale. I understand this may be a new and foreign process to you and it is my goal is to help you feel comfortable and to make your home buying transaction as stress free and smooth as possible.
TTR Sotheby’s International Realty Buyer’s Guide
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