First Time
Home Buyers
Finally the time has come. You
have been saving for years to
collect enough money for a down
payment on a home and the day has
arrived. Buying a home for the
first time can be overwhelming to
say the least. It is a time of
high stress and high emotions so
when thinking about your first
home purchase there are a few
things that should be organized
prior to beginning your search.
Likely the most important thing
that you can have in order at the
outset is your finances. If you
don't know much about your
credit, now is a good time to
learn as much as you can. After
requesting your credit report,
remember to check it for any
errors or out of date items. Many
reports will contain old and
dated information; many times
there are also open or active
items that you cleared up
previously. Alert your credit
bureau to any of these so that
the errors can be corrected.
These can negatively affect your
credit rating so it’s a good idea
to ensure that they are dealt
with.
The next step in the process is
to secure your home financing.
Having a mortgage in place before
you start searching for a home,
not only relieves the stress of
having to find financing quickly
when you find a perfect home, but
it also gives you bargaining
power during negotiations.
Ideally you will be able to get
pre-approved for a certain
amount. This is different that
pre-qualification in that
per-approval will give you an
actual amount to work with.
Pre-approval also will show the
seller of the home how serious
you are about purchasing their
property.
Now is the time to begin working
with your Realtor to find that
perfect home. With your credit
fixed and your financing securely
in hand you will be able to shop
confidently. Once you have found
the home that you wish to
purchase, have a professional
home inspection conducted even if
the seller says that they have
already had one done. The
inspection will assess the
structural integrity, as well as
the condition of the electrical,
heating, and other important
aspects of the home. If
everything passes inspection, you
may have just found your new
home!
Check out these other great real
estate resources!
Your
home loan is the most
important bill you pay, even more
important than your credit cards
and car payments. Make sure you
are not paying too much!
Refinance and pull out some money
to put in that hardwood floor
about which you have been
dreaming!
CENTURY 21® Vista has been
serving the needs of people
looking for
Minnesota Real Estate in
Otter Tail County, Douglas
County, Grant County, Becker
County, Wilkin County, Wadena
County, Todd County and Hubbard
County since 1976, and is one of
the leading CENTURY 21® real
estate brokerages in the Great
North.
View homes
for sale by owner in any
state at HomesByLender.com
Coppell Real Estate The
VIP Realty Dallas Real Estate
team would like to offer you one
of the most dynamic and exciting
residential and commercial real
estate markets in the entire
State.
|