FOR BUYERS
Put your thoughts down:
Are you buying your first home? Moving to a larger home or buying an investment property?
How much can you afford?
How much do you want to invest?
What are you looking for in your new home?
Will your investment permit all these? If not, which features will you not insist upon? Prioritize your list of features.
Narrowing down the right property:
Will the property provide the environment you want for your family?
Is the school district important to you or for resale?
Would the property have resale value when you are ready to sell?
Does it provide a good investment opportunity?
Consider these negotiation factors:
Price, financing and terms of payment
When can you move in?
What's included, what's not - repairs, furnishing, equipment
Allow enough time for you to complete appropriate inspections and investigations before completing the purchase.
Going through the process:
Have the inspector check electrical system, plumbing and waste disposal, water heater, insulation and ventilation, the HVAC system, water source and quality, ceilings, walls, floors, and roof.
Get the property appraised by a certified appraiser. Appraisers primarily consider location, past sales data, size of the lot, and condition of the home. For mortgages insured through the FHA, appraisals will disclose potential problems in the physical condition of the home.
Obtain your financing. Your real estate agent can guide you in selecting the most appropriate financing option.
Closing or settlement - Procedures and customs differ across states. Your real estate agent can help you make sure everything flows together smoothly.
