10 Easy Steps to Buying a House
Having a plan & following Steps to Buying a House is one of the keys to experiencing a hassle-free transaction.
Below we have compiled a list of 10 Steps to Buying a House that we think are important and will provide you with some help when looking to buy a house.
1. Clean up Your Credit Before starting the Steps to Buying a House
Check your credit before you think start these 10 steps to buying a house and be sure to contact any creditors who may be reporting inaccurate information, be sure to update your record with the correct information in terms of balances that have been paid off, canceled credit cards, etc. Pay off outstanding high interest credits cards first and try to get your balances below 35% of the credit limit which will make it easier to obtain an approval for a mortgage. This is the first in the steps to buying a house and very important, if your credit is not in order then you’ll need to straighten it out before moving any further in the steps to buying a house.
6. Get The Details in Writing
Be sure to include everything you want from the seller when making an offer, home inspection contingencies, any items you want with the sale of the house, if you are requesting any seller concessions. Don’t trust any verbal agreements, put everything in writing.
7. Negotiate The Deal
Everything is negotiable!. We are currently in a buyers market and dealing with a lot of motivated sellers. Don’t get upset if your first offer get’s rejected. You can always just offer a little more money but possibly include additional repairs or ask for more seller concessions. Taking these steps to buying a house is a big decision and in the steps to buying a house this is a critical step so remember once you sign the offer is when it will become a legally binding contract.
8. Eyes Wide Open
Pay very close attention to anything that may seem out of the ordinary. Furniture arranged to hide stains or holes. Follow the steps to buying a house and ask a lot of questions and be sure to inspect the most important room in the house thoroughly ( basement ). This is wear the guts of the home is located and you will want to make sure everything is working correctly.
9. Inspections – Always!
One of the most important Steps to Buying a House!
Buying a house without an inspection is probably one of the worst things to do. The few hundred it will cost you know could save you thousands down the road. Be sure to read the report and ask the inspector any question you may have but also keep in mind not to let the inspector scare you with minor repairs. Mostly all homes are in need of some regular maintenance that comes from years and years of wear and tear. After reading the report separate the major from the minor and put together what you will request to have repaired.
10. Closing Cost Estimate
Ask for a copy of your closing cost estimate before buying a house and be sure to go over it carefully and ask any questions you may have. Your mortgage professional will provide you a copy of your estimate 3 days after completing your application. They will be happy to answer any questions and explain in more detail the process of buying a house if anything seems to be unclear.
VERY Important — have fun during this process as most will only following these steps to buying a house once and if you are dealing with the right professional it will be a very stress-free and enjoyable experience.
Buying a House doesn’t have to be complicated just follow these simple 10 Steps to Buying a House.