www.thereiteam.com

1.                  Are You Ready? – In addition to a down payment, you also need cash for closing costs.  Several loan programs may help with these costs.  You may also be able to make this a negotiating point in the offer you put on a property.

2.                 Hire a Buyer’s Agent – Be sure you’re working with a true professional and someone you feel comfortable with.  A Buyer’s Agent insures you are being fully represented in a transaction.

3.                 Get A Loan Pre-Approval – The real issue with real estate financing is not just getting a loan, but getting the loan that’s right for you.  Meet with lenders to find out how much you can afford and find out which programs are available.

4.                 Look at Homes – Before you look, list the features and benefits you want in a home.  Consider pricing, location, size, layout and extras.  Decide what’s most important and how much you’re willing to compromise.

5.                 Choose a Home – Review you notes to narrow down the choices.  When you find the home of your dreams, your Buyer’s Agent can help you be sure it is a good fit for you and your family.  It is also a part of your Buyer’s Agents job to help you consider all of the pros and cons of the property including its future resale value.

6.                 Get Funding – The mortgage you choose will be determined by how much down payment you can afford, your credit rating, and your income.  Shop around with mortgage brokers, banks, and credit unions to find the financing that works for you.

7.                 Make an Offer – An offer is more than just the price you’re willing to pay.  It also includes the terms and timeline of the agreement.  Sellers may accept the offer, reject it or make a counter-offer.

8.                Get Insurance – Shop around for homeowner’s insurance.  Ask your Buyer’s Agent which other insurance policies may be required for your new home.

9.                 Closing – This is the official meeting where the transaction happens.  A closing attorney will make sure all of the required paperwork is complete.  Then it’s official.  You get your new keys!

10.            What’s Next? – Transfer your utilities, move in, check out the neighborhood and enjoy your new home!