Buying a home is a long but exciting venture that, if not handled correctly, can take up a lot of time without leading anywhere. Having access to sound real estate tips to guide you through the process can be instrumental in finding the right home for you and your family. Committing to a real estate purchase is a big decision, and one that should not be taken lightly. Follow these real estate tips to ensure you are taking the right steps in the home-buying process.
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- Get pre-approved or pre-qualified for financing. One of the most difficult parts of purchasing a home is the financial pre-approval process. Approaching a mortgage lender first, before taking any steps in buying your home, is a smart move in order to ensure that the financing will be in place by the time you decide to finalize the purchase. This will also give you an idea of how much you can borrow and what your payment will be based on your credit history and financial situation.
- Research homes in the area where you want to live so you can get a better idea of the market in that area. Concentrate your search on the amenities you are looking for and make notations of the general price range of those homes.
- Find a real estate agent or REALTOR? who can help you find the perfect place. Take your time finding an agent who is knowledgeable, understanding and focused on your needs as a buyer. Don?t be afraid to interview real estate agents to determine who best meets your needs. Using a REALTOR? has many benefits, most importantly, they have access to multiple listings and adhere to stricter code of ethics as members of the National Association of REALTORS?.
- Make an offer on a home you love. Once you have found the perfect home, your agent will give you real estate tips on how to determine what you should offer based on homes in the area that have similar characteristics. The process of the offer and subsequent negotiations often varies depending on the seller?s willingness to be flexible with their terms.
- Talk to your real estate agent about inspections that need to be arranged to ensure the house you wish to purchase meets compliance codes and that there are not costly repairs needed.
- Come to an agreement and draft a contract with the real estate agent to ensure that the sale will go along as planned. The contract should include legal contingencies for the sale and should outline details of every aspect of the transaction, including payments, list of fees and who will pay what in terms of closing costs.
- Contact your lender and prepare for closing, which is when you will sign the contract and pay the necessary closing fees for the purchase of the home as indicated by the contract. Once you?ve signed the contract, received the keys and paid your fees, the house is yours!
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Real estate tips by knowledgeable experts are the key to preparing yourself for a great home-buying experience. For more information about buying/selling your home, visit BidSelect.com. Don?t forget to connect with us on Facebook, Twitter, and LinkedIn, too, for more information on finding the perfect home for you.
Source: http://blog.bidselect.com/2012/08/29/real-estate-tips-steps-to-buying-a-home/
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