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Buyer's Checklist

3/10/2018

1 Comment

 
My job is to make the buying and selling process stress free for my client’s. I offer ways to simplify the process and get them into their dream house. This is a great checklist to refer to as you are going through the homebuying process.

1. First you have to know how much you can afford.
  • Document your monthly income and debt.
  • Check your FICO score and your credit score and make sure everything is as it should be.
  • Use an online mortgage calculator to view what your monthly estimates would be.
  • Then figure how much of a down payment you can make.

2. Before you start looking, get pre-approved for a mortgage.
  • It’s best to speak to at least five lenders and mortgage brokers so you can obtain the best rate possible.
  • Choose a type of mortgage.
  • Research the best interest rates and programs yourself.

3. Determine your needs and wants in a home.
  • Urban, suburban, downtown, rural?
  • What type of home…condo, loft, single family, townhouse?
  • What is your price range?
  • What type of square footage do you need?

4. Research neighborhoods.
  • View the school information, traffic, crime rate and zoning in different areas.
  • If you need to commute, determine how long it would take from your desired location.
  • Look at local amenities such as grocery stores, parks, shops and restaurants.

5. Work with a buyer’s agent who is familiar with the area.
  • Don’t be afraid to ask for referrals.
  • Look for someone with experience.
  • See how many homes they have sold in the area in a 12-month period.

6. Search for homes that fit your criteria.
  • Browse online listings on realtor.com, Zillow.com, For Sale By Owner, etc.
  • Ask your agent to set-up tours for ones you are highly interested in.
  • Pick-up flyers and attend open houses yourself.
  • Check local newspapers as some owners list their home themselves.

7. Time to offer and negotiate.
  • Determine the purchase price and be sure to include any contingencies.
  • Spell out any special requests or repairs that you want included in the sale of the house.
  • Know your desired move-in date.

8. Finalizing the deal.
  • Get the home appraised and inspected by a professional.
  • Consider more specialized inspections such as structural engineering, roof and termites.
  • You can use the inspection and appraisal reports as a negotiation tool.
  • Choose a company for home insurance.
  • Complete the loan process and do a thorough walk-through inspection before your closing.

9. Close.
  • Go through the settlement document at least 2 days before closing to see how the money will be collected and distributed.
  • Go to your bank and get a cashier’s check for the amount you need for closing

10. Enjoy your new home!
1 Comment
Prince Fund link
7/11/2022 12:13:09 am

What an exquisite article! Your post is beneficial right now. Thank you for sharing this informative one.

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  • Home
  • Accommodations
    • Homes
    • Town Homes
    • Condominiums >
      • Studio Suites
      • 1 Bedrooms
      • 2 Bedrooms
      • 3 Bedrooms
    • Fees & Procedures
    • Area Attractions
    • Area Restaurants
  • Amenities
  • Golf
  • Real Estate
  • Properties for Lease
  • Blog
  • Bridgewater Marina Boat Rentals
  • Spa Services
  • The Landing Restaurant
  • Bruno's Clubhouse Bistro
  • Mariners Market Place
  • Bottles and Bites
  • Pictures around Mariners Landing
  • Smith Mountain Lake Vacation Rentals
  • Mariners Club
  • Contact
  • Smith Mountain Lake Rentals
  • Smith Mountain Lake Vacation Home rentals