A Beginners Guide to Buying a House |
Posted: December 21, 2017 |
1. Get Pre-Approved for a MortgageThis is the most important and annoying first step before buying a house. House loans will influence the type of house you can buy. It may be humiliating for you to fell in love with a house and not being able to buy it. Discover your financial status before searching houses for yourself. It all starts with the mortgage pre-approval. 2. Talk to a Good Loan OfficerLoan officers play a big role in helping you get the desired loan. You might get the best response from loan officers if you talk to them in person. Realtors can advise you on finding the right loan officer. You don't need to pay Realtors for referring a loan officer. If you get in touch with a bad loan officer, then he or she may waste many hours. Realtors can help you in getting a loan to buy a house on mortgage. 3. Research Area and Neighborhood StatisticsYou can find easy information online about local houses. Find the right website where you can get daily updates if someone is buying a house. This can get you in touch with the residents living in a certain neighborhood. Find and use online forums to discover about current real estate. 4. Find a Good Real Estate AgentRealtors are of great help especially when you don't have a strong idea about the real estate market. They have years of experience in managing property dealings. Realtors have extensive knowledge and keep their client's interest in their mind. They can provide valuable information which can help you make a good decision. 5. Write a Strong ContractIf you want to buy a house, then get it under a contract. Realtors help clients in protecting their interests and represent them. You have to explore about the strength of your offer if there are many offers on a specific house. Writing a strong contract is necessary because properties sell faster in urban areas. Hire a home inspector after you have signed the contract. If you passed the deadline of negotiation, then it's on the closing. 6. Get the KeysIt takes a month or less after signing the contract and signing the sales contract. The mortgage company takes 2-3 weeks to prepare the loan and complete the paperwork for you. If you want to close the deal quickly, then pay in cash 10 days before you submit the contract. Realtors will inform you about the whole buying process. 7. Schedule the Final Walk-Through and ClosingDon't forget to see the house for yourself before closing the deal. Make sure the house owner has finished all the repairs and there are no big issues with it. The house can be in a bad state which is common even after the home inspection. The walk-through is important to ensure all the main items are in place. It's not an inspection, but a general survey. 8. Close the Transaction and Get the KeysYou have to bring your ID, driver's license, and funds for down payment. The Title company will give you the amount before closing the deal. They will send the documents to your lender, who will give you the loan. You can have the keys after funding the loans. Stop worrying about the real estate market. If you are looking for affordable homes for sale in Irvine, then hire one of our professional agents today.
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