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Moving Tips Home Buying Tips Home Selling Tips Mistakes Sellers Make


HOME BUYING TIPS

Buying a new home is exciting, but it can also be overwhelming. Here's a list of
tips to help make your home buying experience more pleasant.

CHOOSE THE RIGHT PERSON

If you're thinking about buying a home, you'll want to carefully choose the real
estate professional you work with during the process.

You should commit yourself to working with one sales associate who can learn
your likes and dislikes in homes to make your home-buying process easier. Choose
a professional who specializes in residential real estate and who has specific
knowledge of the local real estate and mortgage markets.

The person you choose should listen to you and be interested enough in you to
find out about your housing needs and preferences. Service first should be the
motto of the professional you choose with services going above and beyond what
you expect and need. Doing some preliminary planning before you begin your home
search will make the entire process more manageable and less overwhelming. As
part of your initial game plan, you should:

CHECK YOUR CREDIT RATING

Even if you're sure you have excellent credit, it's wise to double-check at the
outset. Straightening out any errors or disputed items now will avoid
troublesome holdups down the road when you're waiting for mortgage approval.

You may see disputed items, in addition to errors caused by a faulty social
security number, a name similar to yours, or a court ordered judgment paid off
that hasn't been cleared from the public records. If such items appear, write a
letter to the appropriate credit bureau. Credit bureaus are required to help you
straighten things out in a reasonable time (usually 30 days).

 * TIP: Make sure that any outdated derogatory entries are deleted from your
   credit file. Adverse credit information is not supposed to be reported or
   included on your credit report after seven years (except bankruptcy
   information, which can be reported up to 10 years).
 * TIP: Officially cancel inactive credit cards. If you have an inactive credit
   card with a $5,000 limit, even though you owe nothing on it, some mortgage
   lenders will consider that a potential future debt. Too many inactive credit
   cards with significant credit limits could keep you from obtaining a mortgage
   loan. Don't just cut up your extra cards; officially cancel them, and do it
   now so there will be time for the news to reach the credit bureaus.
 * TIP: Hold off on making any major credit card or car purchases while you're
   waiting to apply for a mortgage. Monthly payments you're obligated to pay
   will be counted against you, and reduce the amount of the mortgage loan
   you'll be offered. Even if you've been pre-approved for a mortgage, that
   approval is subject to last-minute evaluation of your financial situation,
   and a spending spree for appliances, furniture and other goodies intended for
   your new home may wreck your chances for buying it.

PRE-QUALIFICATION AND PRE-APPROVAL ON A MORTGAGE

A real estate professional can help "pre-qualify" you for a mortgage before you
start house-hunting. This process includes analyzing your income, assets and
present debt to estimate what you may be able to afford on a house purchase.
Mortgage brokers, or a lender's own mortgage counselors can also calculate the
same sort of informal estimate for you.

Obtaining mortgage "pre-approval" is another thing entirely. It means that you
have in hand a lender's written commitment to put together a loan for you
(subject only to the particular house you want to buy passing the lender's
appraisal).

Pre-approval makes you a strong buyer, welcomed by sellers. With most other
purchasers, sellers must tie the house up on a contract while waiting to see if
the would-be buyer can really obtain financing.

The down side is that you may pay application fees to cover the lender's
paperwork in verifying your employment, income, assets, debts and credit rating.
If you later decide not to use that particular lender, you'd have to start all
over again elsewhere - with no rebate.

Pre-approval will also speed up the entire mortgage procedure once you've found
the house you want. The only remaining question will be whether the house will
"appraise" for enough to warrant the loan.

BECOME AN EDUCATED BUYER

 * The web is one of the best ways to search for homes today. With this website,
   you can receive daily emails with new and updated listings from the towns and
   price range of your choice.
 * Search the entire MLS for all homes, condos, land, multi family, commercial
   properties, and past solds at your convenience.
 * View full listing sheets showing amenities, taxes, lot sizes, beds, baths,
   rooms, siding, fireplaces, garages, room sizes and much more.
 * Get property address and see where the properties are located on MapQuest.
 * Check schools and community profiles of your preferred towns.
 * Save preferred listings in your own file to view anytime.
 * Calculate approximate mortgage payments for specific properties.
 * Click here to sign up now

HOME INSPECTION

Once you have made an offer on a home, you will need to schedule a home
inspection, conducted by an independent authorized inspector. It is extremely
important to hire a reputable inspector so that you know exactly what you are
buying. Do not hesitate to ask friends, family, and co-workers for advice. If
you are satisfied with the results of the inspection, then you can proceed to
the Purchase and Sales agreement. If the inspector finds problems with the
property, you may want to negotiate with the seller to lower the price, or to
pay for certain repairs.

APPRAISAL

Your lender may require you to get an appraisal of the house you want to buy, to
make sure it is worth the money that you are borrowing. You may select your own
appraiser, or you may ask your real estate broker to help you with this task.

HOMEOWNER'S INSURANCE

Lenders require that you have homeowners insurance, to protect both your
interests and theirs. Like everything else, be sure to shop around for insurance
that fits your needs.

SETTLEMENT OR CLOSING

Finally, you are ready for the closing. Be sure to read everything before you
sign! You should have both your real estate broker and an attorney present at
the closing to ensure that all is in order.

FINALLY MAKE SURE BEFORE YOU BUY

Making sure you end up with the right home involves figuring out exactly what
features you need, want and don't want in a home. Before starting your search,
you should make a "wish list" to decide which features are absolutely essential,
which are nice "extras" if you happen to find them, and which are completely
undesirable.

The more specific you can be about what you're looking for from the outset, the
more effective your home search will be. Also keep in mind, that in the end,
every home purchase is a compromise.

Create your own personalized "wish list" and when you're finished filling it
out, share it with your real estate agent.

TO CONTACT ME, CLICK THE BUTTON BELOW!

Contact me
Chris Bohr

Cell: (813) 765-6057

chris@bohrsellshomes.com



CHARLES RUTENBERG REALTY INC

1545 S Belcher Rd

Clearwater, FL 33764

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12/28/2024 01:49 AM

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