What should I know about buying a home?
For most of us, buying a home is the most important financial decision
we'll ever make. It is therefore critical that you know as much as
possible about the purchasing and financing process.
We have prepared the following list to assist you in buying a home
and obtaining a mortgage:
-
Get Pre-Qualified or Pre-Approved - Sit down with Landmark Mortgage to discuss your income level, living expenses and benefits of home
ownership. Take into account
future considerations like, children, additions, amenities, etc.
-
Tour
Several Homes - Don't jump on the first property you see, but don't move
too slow either. Visit enough
properties to get a good overview of the market.
-
Visualize the Property Empty - Don't buy a home because it has beautiful
furniture, or you love the chandelier.
Always picture the house empty because that is how you're
buying it.
-
Inspect, Inspect, Inspect! - Thoroughly go over the inspection report.
Use a professional organization, not just a friendly handyman.
Repairs and maintenance can be expensive.
Always check the subdivision by-laws, homeowner's obligations,
and any restrictions that might apply. Don't take anything for
granted.
-
Check the Costs - Investigate all the costs such as utilities, taxes,
insurance, maintenance, homeowner dues, etc.
Don't make assumptions.
-
Put Everything in Writing
- Don't leave anything to chance.
All verbal promises and commitments should be in writing.
Even the best intentions can be misinterpreted.
Have your real estate professional keep an on-going log (in writing) of all discussions, and get the sellers written
approval for all agreements.
-
Do a Final Walk Through - Visit the property after all the furnishings
have been moved out to be sure there are no surprises.
Be sure the property was left exactly as how was agreed to in
the contract. Don't allow anything to be overlooked.
-
Work
with the Best Real Estate Professional - It is critical that you select the
best agent that you can. ood real estate agent has inspection teams and other
professionals that they have used before and that they trust.
We hope you find this information useful, and that it helps educate you on
many of the common mistakes buyers make. Of
course, every situation is unique and requires special attention. Landmark Mortgage
specializes in assisting individuals with obtaining
a home loan whether for purchase or refinance.
We can advise you on the best
approach and help you get the house of your dreams!
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