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Posted on June 16, 2007 by tireddadoffive | Posted under Real Estate
Buyer's Resources, Important Things You Should Know
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As a homebuyer, the process of getting prepared to purchase a home is going to be the first step. This preparation takes a couple of steps. 1. Decide between buying and renting. When you are deciding on whether you should rent or buy, you can look at the cost of a mortgage versus the cost of rent. Also you can look at what your investment value will be when you have equity of your home. Here are a couple sites that may make that decision easier for you. http://www.kiplinger.com/tools/houseprices/, and http://partners.leadfusion.com/tools/kiplinger/home10/tool.fcs. You will find other comparison tools on the Internet like these. 2. Now that you have decided to buy a home, there are some areas of your financial life that you will want to make sure are set up for financing. This includes getting your credit report from a site like http://www.freecreditreport.com/pm/default.aspx?sc=667479&bcd=ggOP3TstA. That way you can review the information on the report to make sure it is correct. You will also want to pay down as much debt as possible. This way you have a lower debt to income ratio. The lower the debt you have, the better interest rate you can get. In order to check out some interest rates you can go to http://finance.move.com/homefinance/findlender/findlender.asp?poe=homestore. Next you will want to find out what type of down payment you will need or if you will need one at all. Also, it would be good to know how much you are qualified to purchase a home with. Becoming pre-qualified for a home loan can do this. 3. You will want to find a buyer's agent or Realtor to help you with the steps for financing, finding a home, and completing the purchasing process. Using a few of these links will make it easy to start your search. However a professional in the field of real estate will make the search more successful. http://www.mls.com/, http://www.owners.com/Search/EmailUpdates.aspx?loc=BT, http://www.owners.com/Partners/Foreclosures.aspx?loc=BT, http://www.hud.gov/homes/index.cfm 4. The best way to find a buyer's agent or Realtor to help with this process is to ask a round. Friends and family are happy to tell you about great deals they got, and who helped them get them. You can also look at the listings on the Internet to find out whom the Realtor is working for the sellers. You can also drive around in the area you want to live, and look for the names of representatives of homes for sale. Here are a couple sites that you can use to find a representative in your area. http://www.localrealestateyellowpages.com/, http://www.realestatebuyeragent.com/ 5. After you have found several Realtors or agents in the area you want to purchase real estate in, you need to interview three of those. 6. After you have found the perfect Realtor or buyer's agent for you, and you have your finances ready for the purchase, it is time to find your home. The Realtor or buyer's agent you have hired will start gathering the home listings for you that meet your needs. Then you will get ready to start viewing homes. This may take a little time, however, it is a good idea to view a couple homes before you decide. 7. http://www.housevalues.com/default.aspx?hvnp=1&src=googleCheap&gclid=CJ3Wj6Wo4YsCFRlmWAod63s9cg is a good place to check values of homes. Your representative will also make sure that the prices of the properties you are looking at are fair. 8. Now it is time to go through with your closing. This is a simple process with the help of representation. 9. After the house has been put into escrow, all of the instructions are completed, and the home has been released, it will be all yours. 10. Congratulations with these resources. Hopefully you have had an enjoyable home buying experience. These are some great resources; your Realtor or buyer's agent will also have several resources that can help you find what you need. There are also some great books at the local library. What ever you use to make your buying experience work, remember that you need the representation of a professional. With it not costing you a penny more, why not take advantage of it. About The Author: Chuck Lunsford is the content for Tina Abraham, a leading real estate broker in Wilmington, North Carolina. Tina specializes in selling homes in Wilmington, Greater Wilmington, Pender County and Brunswick County, which are some of the highest demand homes in the world. Visit us for more information on Tina and how she can help you buy or sell Wilmington, NC real estate, or call (910) 790-7484. |
Tags: BUYER’S RESOURCES, THINGS, SHOULD KNOW
