Ghayda Yousif
Typically, buying a house represents the single greatest investment and debt.Adequate research, knowing what you want and what you can afford, and the help of a real estate professional agent are the keys to the best outcome.
Know what your reasons for purchasing are, and decide the type of home, neighborhood, and features that you want. Because the buying and financing of homes are fundamentally linked, you will also need to examine your current financial situation and understand what you can afford realistically.
You'll be in a better position to research housing and mortgage options once you're clear on the above, and create a plan of action with timelines to move forward. While it's possible to do this on your own, you may benefit by taking the consultation of an experienced real estate professional right from the beginning.
Contact a genuine real estate professional once you've agreed to purchase. A professional agent will direct you through the property search, financing, negotiation, and transactions. Consider their awareness of the local market, experience, and track record when evaluating potential agents.
Before you begin looking at homes in earnest, it is important to get pre-qualified for a loan. The Pre-Approval method involves meeting and authorizing a lender to examine your current financial situation and credit history. Based on this examination, the lender may provide you with a document detailing the amount you are pre-qualified to borrow to buy a home.
Financing is available from many sources and it should be possible for your professional agent to suggest lenders with a history of offering excellent products and services for mortgages.
Knowing what you want helps in a home search. You can view homes, see photos, take videos, and access neighborhood information with today's mobile apps and online real estate websites.
However, to look at homes in person is very important. Although the specifics of the property can appear similar, homes can be very different in terms of layout, architecture, workmanship, and other aspects. Ideally, you should view homes with the help of an experienced real estate professional who may notice things you might miss, provide professional analysis, and act as an unbiased sounding board.
It's time to make an offer when you've found the home you'd like to buy. Your state or local real estate association probably has contracts that are commonly used for transactions in your area. These contracts enable you to set a selling price and also allow the inclusion of clauses specifying different terms of purchase, such as the closing and possession dates, your deposit amount, and other conditions. Through your real estate professional, you can carefully check these clauses to make sure they express your intended offer.
Successive counter-offers can be exchanged, with deadlines for responding and meeting conditions until a mutual pending agreement is reached or the negotiations breakdown between you and the seller. Negotiations involve a variety of considerations linked to various market conditions, homes and sellers, and other variables that a professional agent can handle with ease.
Key steps to be followed before closing