First Time Buyers - What To Do First
Home buying is a very complex undertaking. For
a first time buyer the process may seem overwhelming. It need not be so. Here
are the basic steps leading to a successful home purchase.
1. Find an experienced Realtor to work with,
one who will be your "Buyer's Agent". Your Realtor will be a coach
and guide to what, when and how to do things. He will also manage all of the
contracts, deadlines and details for you.
2. Apply for a mortgage pre-approval with a
lender of your choice. This is best done face to face after interviewing a few
of them by phone. Your Realtor will suggest a few lenders for you to try as
well as coach you on the right questions to ask.
3. Pick an area you like that is within your
price range. Also consider factors such as commuting time, schools and so on.
Your Realtor will help you with information on subdivisions and price ranges.
Do some independent "driving around" to compare and decide.
4. Next you will need to begin choosing. Your
Realtor will provide details on all available homes in your area and price
range. After you pick the most appealing ones your Realtor will arrange the
showings and accompany you to each selected property.
5. When you find that "just right"
home you'll be ready to make an offer. Issues including offering price,
closing date, and other terms will then be considered. Your Realtor will guide
and assist through the choices and negotiations from start to finish.
6. Once your offer is accepted by the seller
the closing process begins. There will be property inspections and many other
details. Here again your Realtor will make sure that everything is done
correctly and on time with nothing overlooked.
7. Finally, the big day comes. Your Realtor
will accompany you to the "closing" and help you sort through those
last minute questions. You have become a home owner and can start moving into
your new house.
Now, that wasn't so bad, was it?
First Published 10/10/00 (1/14)
