HOME BUYING 101
It does not have to be a daunting, complicated process to buy a home.The process of buying can go very smoothly, if you have a good, experienced Realtor:
1. Get Pre-Approved(or in the very least Pre-Qualified) by a reputable mortgage lender.
The first question any experienced realtor will ask you - Have you been pre-approved by a mortgage lender?
A pre-approval will give you a negotiating advantage over another buyer who may not be pre-approved, if you are both competing for the same property. It will also save you time if you find a home you want to purchase.
A seller's agent will ask for a pre-approval, when you submit your agreement of sale(offer), from you and your buyer's agent.
A GOOD buyer's agent will request you get pre-approved, so he can help you determine the correct price range of home you can afford, and help you compare interest rates, closing costs, and montly payments, so there are no surprises at settlement.
Also, an agent is more likely to devote their time to help you find your dream home if they know you are qualified to buy!
2. Find a good, reputable, experienced REALTOR to help you from the start of your home buying process.
A good buyer's agent will provide you with up to date property listings, and should be able to provide you with comparable analysis of recently closed(sold) properties, so you can make the right decisons, on what to offer once you have found a property you want.
A good agent will take care of all the contracts, negotiations, and set up any inspections, order title insurance, and get you to the closing table as smoothly as possible.
Once you have found that agent, be committed to your agent, loyalty pays off ! If a realtor knows you are out calling on yard signs, or using other agents, and not really being loyal to them, chances are they will not work as hard for you, as they would for some of their clients who are loyal to them! You may miss out on that next hot property!
3.TIME IS OF THE ESSENCE-
Once you have an executed agreement of sale, signed by both the sellers and buyers, make sure that you comply with all contingencies, getting whatever is required done by the time periods specified in the contract, The agreement of sale is a legal binding contract, you may default if you do not meet your contractual obligations by the times specified in the agreement of sale, and your deposit money and sale of the home can be at risk. A good REALTOR will notify you of what and when things must be done, so your transaction goes smoothly.
If you would like to work with me to sell your current home or in buying your next home, call me directly at 570-366-8600 ext12, or 570-628-3032, I'll be glad to help!
