Buyer's Checklist

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!