If You are Planning to Buy in 2010 - Start Preparing Today!
Well from the last post - now you have a good idea where you want to live, are pre-approved, and you basically understand the areas, process, and forms that will be needed. Now you can actually begin your search:
The fun (and frustrating) part. You've done your research as explained in the previous post. Now drive the areas, compare, and familiarize yourself with the type of housing available. Then key in on the homes and areas that may be of interest. Also look for a Realtor that you are comfortable working with and trust and stay with them. We generally see new listings up to 24 hours before they show up on the public websites. We also often have information on properties that "could be" listed. Find a Realtor that you like. Call me - I could be a perfect choice - but maybe not - you choose.
5 - Buy -
One warning - Don't get caught in the endless search loop. Yes - new homes are always coming on the market, but this goes with your commitment to buy a home. Set yourself a time frame to make a decision (this is particularly important this year if you want the tax credit!) and buy a home or withdraw from the market and wait for a better time. Otherwise, you will become frustrated with the process and "the one that got away". Also familiarize yourself with the contracts. You do not want to wait until you are ready to write the offer to first lay eyes on the agreement of sale.
6 - Inspect -
If you take a moment to look at the Agreement of Sale, you will see multiple inspection options. Take advantage of these opportunities. You are not given a second chance to do them later. Do the inspections as soon as possible after you have a signed agreement Nobody likes surprises and you do not want to move into your new home to discover one week later that something is not the way you wanted it or it does not work as you expected. You may also want to add a home warranty to help handle any unexpected issues. These all cost money, out of your pocket, today. This is money well spent and is peanuts compared to the cost of the overall property.
7 - Financing -
This is the second part of your financing job. You have already been pre-approved, now you have to complete the paperwork to make the purchase. Again, do it today, do not put it off. You have loan commitment dates and contract settlement dates. Lenders will not be rushed. It is up to you to take these steps in a timely fashion. Your deposit is on the line. We will all work with you to complete them as easily as possible.. Again, if you have questions or just don't understand something - ask!
8 - Close & Enjoy! -
Sweet success. Yes - at the end of the process you will have a new home with no surprises that you will be able to enjoy for years to come. Sit back, relax, and enjoy the ride.
This is a great time to be in the real estate market. There have been many changes over the past year and you can count on them continuing this year, but we are here to help. With change comes opportunity, now may be one of the best times to buy that we have seen in years.
As always, if you have any questions or are considering buying or selling in the area, please do not hesitate to contact me anytime:
Long & Foster Real Estate Inc - Newtown Square,PA/Bear, DE
Office: 610-353-1199/Direct: 610-359-3853/Cell: 610-618-0808