Are You Considering A Purchase?
Here Are A Few Of Our Top Buyer Tips:
- Obtain a pre-qualification or pre-approval prior to starting your home search. Having this information will enable you to shop within a price range that fits within what you are committed to spending on a monthly basis. A lender can discuss financing options with you and outline the best scenarios for your purchase. When possible, consider using a local lender.
- Consult a Realtor® to assist you with your search, have your agent set up automated alerts for you to receive listings that match your criteria. A Realtor® will be able to assist you in finding a home regardless of the brokerage that has the listing. We have a free listing alert service available at www.connieandjamie.com.
- Be prepared to review and sign A LOT of documents. Ask your agent for hard copies or if you prefer to read and review documents online, electronic copies can easily be provided. The documents you will receive range from the initial purchase contract, to seller disclosures, reports and inspections, title and escrow information, etc.
- Once you have found a house you like, visit the neighborhood at different times of day on week days and weekends. Take a walk around the area, visit the schools and/or parks nearby, talk to neighbors, and get a feel for the area. Exploration can be just as important as obtaining reports and inspections on a property.
- Inspections: Inspections are typically completed at the buyer’s expense. We typically recommend a home inspection, roof inspection, termite inspection and chimney inspection (if applicable). Other inspections people consider when applicable include: pool inspections, foundation inspections, well inspections/water tests, septic inspections, and sewer line inspections.
- Appraisals: If you are obtaining a loan, your lender will order an appraisal. An appraisal is completed by a third party for the benefit of the lender. The lender is typically offering you financing based on a percentage of the appraised value. Appraisals are ordered through a system on a “round robin” basis, the purpose of the appraisal is to establish a fair market value for the property utilizing comparable listings and sales and adjustments as needed. The appraiser does visit the property; he or she will measure for square footage and take photographs for their report. They may also confirm that smoke detectors and carbon monoxide detectors are in place and operable. The appraisal is NOT a home inspection.
- Anticipate delays. We stick to a timeline as determined by the contract and everyone works as diligently as possible to stay on track, but with so many parties involved there are inevitable delays that will be out of your control.
- If you are currently renting, please consult your Realtor® and lender prior to giving your landlord notice to vacate, we do not want you without a place to live!
- If you are obtaining financing: DO NOT make any major purchases, open new credit accounts, etc., without first speaking to your lender. Doing so could compromise your ability to qualify for your loan.
Other Buyer Resources: