Preparing to Buy a Home

Here is a quick guide to buying your next home.

Prepare Your Finances

Know your credit history | A mortgage lender will help you determine how much home you can afford and if you need to do anything different to your finances before buying.
Calculate Debt | Carefully calculate your expenses and debts to help determine your desired monthly mortgage payment.
Gather Docs | You will need to have your tax returns, financial statements, and other relevant documents prepared.
Find a Lender | Find a mortgage lender that is reputable and will listen to your needs. A good loan officer can make or break your experience.
Get Pre-Approved | Once you have prepared your finances and have found a good lender to work with, make sure you have a pre-approval letter handy to prove your buying potential.

Finding your Home

Find a Realtor® | An experienced Realtor® is your most valuable asset when searching for your home. They will help you through each step of the home buying process.
Research Communities | Research your areas of interest to help determine the best neighborhoods for you and your family. Knowing this will save you time! 
Search Online | Once you know your favorite communities, research homes online. Ninety-five percent of home buyers utilize online technology to find their home.
In Person Showings | Once you find your home selections online schedule time with your Realtor® to view them in person. You may find things in person that were missed in the online representation of the home.
Make Your Offer | When you find the ONE, it will be time to make an offer. While preparing your offer, Your Realtor® will advise you of all your options.
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The Keys are Yours

Negotiate the Terms | There are many important terms that will need to be negotiated into the sales contract. Your Realtor® will walk you through this and help you understand all of your options.
Earnest Money | Earnest money is a form of “Good Faith” that goes with your offer contract that tells the Seller you are serious about your offer.
Inspections | Home inspections are very important. Make sure you hire a great one! Or ask your Realtor® for referrals.
Appraisal | The appraisal is a necessary step required by your mortgage lender to determine the proper value of your home.
Close the Transaction | Once you have completed the steps above, you can now coordinate a convenient closing time with the title company involved with your transaction. You’ll get the keys at the time of closing! 

Danielle Frisbie, REALTOR®

The Cutting Edge, REALTORS®

Office: 719-599-5067