Posted on: 20 August 2021
When the time comes to start your home search and purchase, you will want to have the most success during the process and hire a licensed, knowledgeable, and experienced real estate agent to be by your side during the process. There are many tasks and responsibilities your realtor will handle for you during the buying process, which makes their help invaluable to assist you in buying the right home at the best price. Here are some details of what you can expect during the buying process when you are working with a realtor.
Check Into Financing
As one of the initial steps to prepare for the buying process, you will need to understand exactly how much you can get in a home loan and what that loan will mean for you in terms of the rest of the home-buying costs. The financing provides the full purchase of the home, but there will also be additional expenses, such as closing costs when you sign for the home, an earnest money deposit that you put down on the home when you make your initial offer, and a down payment that you pay toward the home's purchase in addition to the mortgage loan.
You will need to get started on your mortgage loan as soon as possible before you start shopping. Your realtor can recommend a great mortgage broker if you do not already have one, as they work with many of these brokers on a daily basis. Your mortgage broker will submit your information for approval with your credit report and income, and after this is completed, it should be able to provide you with a mortgage approval amount or a pre-approval letter. Your realtor will need this letter for when you submit an offer on a home so the seller knows you are approved for financing and your offer is backed up with financing.
Coordinate Your Home Search
As soon as you have your loan pre-approval, you can begin searching for a home by way of viewing and searching through homes that match your criteria. Your realtor can complete a search for you through their Multiple Listing Service (MLS) and come up with a refined list of homes that match the type, style, price, location, and features that you want in a home.
This initial list will have a number of properties on it that are on the market or have been for a period of time. However, as you search for homes with this initial list, there will be new home listings that become available, which may be exactly what you are searching for. Your realtor can arrange to provide you with these new listings and arrange for a showing at each listing that you want to review further.
Keep these tips in mind when looking for real estate services near you.Share