Entries in successful (1)

Sunday
Jul222012

Steps to Successful Home Ownership

As you might know, I began a new career as a Realtor Associate with Coldwell Banker Elite Realtors. I want to share with you some of the steps necessary to become a homeowner. This information is excerted from the non profit group, Home Ownership Council.

GET INFORMED
Buying a home is probably the largest investment you will ever make.  Becoming an informed consumer will help you make smart decisions on your way to being a successful homeowner.

DECIDE WHAT IS AFFORDABLE

What you can afford is not always what the lender says you can afford.  There is a big difference and only you and your family can say what your budget should be and how much you are comfortable paying each month.

SHOP FOR A MORTGAGE

You really need to find the best loan for your budget and your personal finances. Call around to see whom you are comfortable working with and who can get you the best loan. Once you choose your mortgage lender get preapproved so you bring the strongest possible position to the home buying process.

SHOP FOR A HOME

Most homebuyers will work with a real estate agent to help them buy a home. A Realtor® can help you find a home based on what you can afford and what matters most to you.

PREPARE AND NEGOTIATE A PURCHASE AGREEMENT

When you find your dream home, your Realtor® helps you write and negotiate a purchase agreement. This is a written contract signed by the buyer and the seller stating the terms and conditions for the sale. Sellers ultimately decide whether to accept or reject a purchase agreement.

COMPLETE A PROFESSIONAL HOME INSPECTION

Once you have signed a purchase agreement you will want to get a professional home inspection. A certified home inspector can find current and potential problems not always visible to buyers. It is worth the expense in the long run. Your Realtor® can help you find a qualified home inspector to use.After the purchase agreement is sent to your lender, they will finish processing your loan application and have the property appraised to make sure it is worth the amount you want to pay for it.

CLOSE ON THE LOAN

The closing will typically take place in the seller’s real estate office. At this meeting you and the seller will sign the paperwork and transfer title of the home from the seller to you. Once closing is complete, you will receive the keys to your new home.