Congratulations on the decision to purchase a new home. In today's Market, you have the power as the Buyer to get a home in a great location, with lots of square footage, for a great price. It is imperative that you take advantage of the opportunity and use all of the information at hand to make the right decision for your new purchase.
These are the Steps to Get you into your new home:
1.) Hire a Realtor:
Since you have made the decision to purchase a new home you want to have a Professional by your side to guide you step by step through the process of your purchase. An Agent that is dedicated to finding all your specifications and can negotiate the best price for you. As a Buyer, there is no cost to hire a Real Estate Agent, since these fees are paid by the Seller.
2.) Hire a Mortgage Broker:
When you are ready to submit an offer, you have to submit a Pre-Qualification letter along with the contract. A Mortgage Broker has to Qualify you in order to receive this letter. This allows you to know the price range you should be searching within, as well as provide you with an estimate of your new mortgage payment. This is required so that the Seller knows you are a serious Buyer with the qualifications to purchase their home.
3.) Design your New Home:
Choose the Area that you would like to live in. Keep in mind school distance, work commute, and daycare when thinking of location. Choose the Size, Property Style, and Price Range you would ideally like to stay within. Also, make a list of your top 3 "must have" items for your home.
Once you have followed all the steps provided, you can go with your Real Estate Agent and preview the selected homes. When you have selected a home that you want to purchase, your Real Estate agent will handle the preparation of your contract and will negotiate on your behalf in order to get you the best possible price for your selection. This is when hiring the right Realtor will give you the upper hand. In today's market there are different steps that the Real Estate agent will handle in order to make this an easy, stress free process and to successfully get you to the closing table.