Buyers

Buying a home can certainly be a daunting process even for seasoned pros. All of the sudden you find yourself juggling and considering variables such as what type of home to buy, amount of down payment, monthly, what type of mortgage and financing terms, making an offer, and closing the deal in a reasonable time.

When we look at it this way it seems a little overwhelming I know, but no worries!

Here’s a have a plan that will break this process down for you:

HOW MUCH HOME CAN YOU AFFORD

Before you start shopping for a home, you need to know what kind of home to shop for, style of house, number of rooms, bathrooms, pool, neighborhood, lot size, etc.

This means we need to figure out what size home you need and how much home you can afford. One of the things to remember is that your monthly mortgage payment will need to include; principal and interest, taxes, your homeowners insurance, and any association fees.

By doing a complete financial analysis of where you are at and what you truly can afford, that will help make this a much more pleasant experience. This is not just your home but it is an investment for your future!

This very useful personal financial worksheet can help you understand what you can afford.

OBTAINING FINANCING

This is now in the hands of the financial institution that you choose to work with. Keep in mind that the type of loan you are looking for and the type of loan you can actually qualify for can be two totally different things.

My recommendation is to shop around and get more than one quote so you are more likely to get the best interest rate, lowest fees, and best possible terms . This little extra work on your part can add up to  huge savings in the long run.

To obtain your credit report you can visit FTC website and obtain a free credit report
For a guide on how to find the best mortgage loans and understanding how the process works, visit this resource site.

FINDING A HOME

Now that financing has been secured, where do we go from here?

Here comes the fun part…. let’s start by prioritizing the key elements in your dream homes. We don’t do this enough and more often than not end up compromising in all the wrong areas . Things that may be on this list are for ex: style, size, neighborhood, and location. As your agent, I will use your dream list to narrow our search, maximize our efforts and find you the home you’ve always wanted!

By the way if you are a first time home buyer, get your 6 essential tips for first time home owners.

BUYING YOUR HOME

We have found the house you want to make your home.

Let’s do a comparable analysis for the area, make sure that we well priced and put in an offer that serves both parties well.

Once the seller has accepted your offer we will set up the inspection. We want to make sure that this house is everything you want for the price and that you are protected against any existing  issues with your new home. With a thumb’s up from the inspection, I will then make sure the appraisal is completed and that your financial institution is ready to move to an expeditious close.

CLOSING AND MOVING

There are still a few things we need to do, lets call these “pre-closing responsibilities”. It is time to dot our I’s and cross our T’s!

You should start your moving checklist and start getting organized for us to do the final walk-through and make sure the house is in the agreed condition.

Once you are satisfied and ready to make this house your home, you will obtain homeowners insurance and start the settlement statement review for closing. During this whole process keep any expenditures to a minimum and no large purchases without consulting your lender first.

Finally it is your day of closing. Congratulations … Time to move!

Let’s do this!

My phone number is: 561.715.9121

You can email me at: pleverence@providencerealtyadvisors.com

You can also send me an email by filling out the form below.

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