Let us put your Real Estate pieces together.
Keep your money where it is. VERY important.
Do NOT make any big purchases or move money around for 3 to 6 months before buying a home. You don’t want to change your credit profile.
Get pre-approved for your home loan.
There is a difference between being pre-qualified and pre-approved. Talk to your lender.
Don’t buy a home for its décor.
Look beyond the furniture, paint, and Knick knacks. Don’t be distracted from the imperfections that the décor may be hiding.
Don’t try to time the market.
Don’t obsess with trying to determine when the best time to buy is. The housing market is very unpredictable. The best time to buy is when you find the right house.
Bigger isn’t always better.
Having the biggest, best house on the block means your home might appreciate differently than the homes around you.
Consider more than just the mortgage.
The difference between renting and owning a home is more than just the mortgage. Don’t forget taxes, insurance, utilities, and maintenance when determining a budget.
You are buying a house, not dating it.
Buying a home just because you fall in love with it could make you blind to its imperfections or cause you to bust your budget. Know the difference between emotion and instinct. Including must-haves and must NOT haves on your priority list will help remind you what you want.
Check it out.
You wouldn’t buy a car without a test drive, don’t buy a home without one. Hire a home inspector and listen to what they say. Be prepared to walk away if needed.
The science of biding.
Your offer should be based on what you can afford and what you really think the home is worth. Don’t get caught up in “winning”. Be fair and reasonable.
Hire some help.
Hire a real estate professional (REALTOR®) to assist you with this process.
Loan Origination Fee- Fee charged by the lender for the mortgage.
Closing Fee- A fee charged by the title company to prepare the
Deed Prep - Issued by the title company to prepare the deed and
record any documents required to clear a title.
Title Service Fee- Fee for title search, title insurance, and other title services.
Recording Fee- A fee charged to record the property deed in the public record.
Transfer Fee - A tax on the sale and transfer of real property or an
interest in the property.
Appraisal Fee- A fee charged for the completion of the appraisal, required by lender to prove the worth of the home.
Inspection Fee -A fee charged for the completion of the home
Survey Fee- A fee charged for the completion of the land survey. (Property boundaries)
Mortgage Insurance Premium- You may be required to pay your first year’s mortgage insurance premium in lump sum that covers the life of the loan.
Escrow Fees - Money that could be collected for taxes,
mortgage insurance, hazard or flood insurance to be paid as they come due.