Posts Tagged ‘buying guides’

8 Most Important Steps To Do Before Buying Homes for Sale Part 4

"making an offer"STEP 5 – MAKING AN OFFER

Once you have seen the properties and have considered everything on your checklist, double check on the property’s structure, features, deed restrictions and even how much renovation will be needed. Your agent’s information is crucial as they are experts and has more knowledge and experience placing your best interests in mind. Once you both feel that this is the best property for you then you’re ready to make an offer!

This stage involves strategy where your real estate agent must be involved. You don’t want to pay more than the property’s worth and at the same time you don’t want to push the seller away by giving low offers. The agent can advise you on a realistic offer that will give you more chances of buying that property.

All offers need to be made through a letter of intent. Your real estate agent will have an offer letter template (they are also available online) but, in general, you will have to take note of the date, home address, the price you are offering, and any stipulations you want the seller to consider (such as inspection qualifications and dates by which you need an answer). It is very important that you have a lawyer look at your letter (if you don’t have a real estate agent) because if your offer is accepted, you are liable to stick to its terms or conditions (or the lack of them). You will also include a check as an offer of good faith which is usually $1,000 or five to ten percent of the asking price. This earnest money, as some calls it, can be applied to your down payment. This usually shows the seller that you are serious about the deal.

For the most part, you will be making an offer to the seller based on what you think the home is worth and what you can pay. You will be able to back up your offer with all the research that you have done.

Next: Step 6 – Inspection

8 Most Important Steps To Do Before Buying Homes for Sale Part 3

In this blog series I already informed you of the first 3 things that you should do before buying your dream house. Now, let’s get on the most important part of house hunting, finding the best house possible for you.

STEP 4 – The HUNT IS ON

Many home buyers spend their Saturday afternoons going from one Open House to another in the hopes to stumble upon the perfect home! Buyers are more likely to be successful with their hunt if they go through the process in a more organized way. AllGardenGroveHomes Real Estate have some suggestions that will help anyone have an easier time with their home search, whether this is their first or fifth home purchase! "House hunt"

  • A realistic price range must be established. Stay within your price range so that you will feel more financially comfortable. In this way, you will also be able to enjoy your home much better in the future. Once you have your price range, find a neighborhood where you like your property to be located. Check the environment of your chosen property. Locate the schools and investigate the crime rate.
  • Start with a checklist. List all the items which your future house must contain. Include in your checklist the number of bedrooms and bathrooms, condition of the property,  and all added features. Highlight those items that are ‘must-haves’ and those that are “wishes” in another column. Make a copy of this checklist.
  • Take down notes. Don’t rely on remembering all the details of each house. Take notes, and lots of photos. By doing this, a number of the homes you checked on previously will be removed from the list. Of those left on the list, choose the best and make arrangements to look at them with your Realtor. As you revisit each property, check the things that you indicated in your checklist. Taking down as many descriptive notes as possible. It is hard to remember the features and description of each house if you do not have your checklist and your photos.
  • Study the data that you gathered. Consider taking this data at home for further study for a day or two. Drive around the neighborhood at any given time. Is the neighborhood safe? What about the traffic. Is it manageable? Try to narrow down your choices to two or three houses, then go back and check them again. After considering all the things in your checklist and the data that you gathered, you will be confident that you chose the best property available when you were doing your house hunting.

Next: Making An Offer

8 Most Important Steps To Do Before Buying Homes for Sale Part 2

In these series of blogs where I will guide you on a step-by-step process in buying homes for sale, I combined steps 2 and 3 since they are pre-requisites of each other. Having the right knowledge on what to do next in buying homes for sale will save you lots of time, money and will help you acquire the house of your dream like a pro.

STEP 2 – GET YOUR CREDIT RATING "credit score"
Credit Score is an important number if you will be acquiring your home through loan or mortgage. Banks and credit card companies use this to determine if they will lend you money. It is also used to determine your interest rate on loans and credit cards. Credit Bureaus or Annual Credit Report Service provides you with credit scores upon purchase.
A credit score usually ranges from 340 being the worse to 820 being the best score. If your score is lower than you expect it, you can request for a credit report to find out if there are any errors. You can improve your credit score by paying your bills in a timely manner and making sure of eliminating consumer debt.

approved"STEP 3 – GET PRE-APPROVAL
When buying homes for sale, first be familiar with the mortgage process. It is ideal to get pre-approved prior to searching for your dream home. Most people often neglect this very crucial step. Pre-qualified is not the same as pre-approved. In a hot market, you’re going to want to go the extra step and get pre-approved for a home loan before you make an offer.
Getting pre-approved sometimes gives you an edge over other buyers especially if the real estate property that you are looking to buy is a prime property. This means that having been pre-approved is a guarantee to the seller that you have funds and they are actually available.
Ask a lender to prepare a letter of prequalification which states that your initial financial and credit information has been reviewed. This will put you on top of the seller’s list when presenting an offer.
As soon as you have your credit rating or credit picture in hand and being aware of your credit standing, deciding the next step or which way to proceed will be much easier for you.

Tomorrow: Step 5 — The Hunt Is On

Top 8 Most Important Steps To Do Before Buying Homes for Sale

"checklist"

Buying a home is an opportunity that does not come in any one’s life every day. It entails a very complex procedure that needs full understanding and great knowledge to be able to get the best deal for your money. I will walk you through the buying process, giving you insights on what to look for and what pitfalls to avoid.

In this 8 part step-by-step buying guide, I can help you acquire the house of your dream like a pro.

STEP 1 – FIND A REALTOR"realtor"

Gone are the days when looking for a realtor falls in the middle of the buying guide of finding your perfect home. Changes in the Real Estate and Lending Industry made this possible. That is why in allgardengrovehomes.com our knowledgeable Real Estate Broker is a critical part in making your real estate purchases a success.

So what makes allgardencrovehomes.com agents different from the rest?

– Our agents are professionally trained to guide you with your search for a perfect home from start to finish.

– They can advise you through the different stages of acquiring your home such as explaining the legally required contracts and disclosure forms.

– They have access to all active property listings such as bank owned foreclosures that are soon to be available on the market and other off market sellers.

– They can represent you throughout the home buying process and act as an advocate for you.

Get to know your agents and check out our references before making a decision. Rely on your instinct when it comes to evaluating them. AllGardenGroveHomes agents are honest, loyal and most important of all, has your best interests in mind. So take a step and find out why our focus is all about you and where you want to be! Contact us to discuss where you want to be in Garden Grove.

Tomorrow:  Step 2 — Get Your Credit Rating

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