Are you ready to begin this journey?
Buying a house is a huge commitment that requires you to be on the straight and narrow for a few years, until you can call the house yours. You are not just buying a house but also a mortgage that has the power to steal this dream from you.
However, this is not the only thing your journey calls for. The key to becoming a homeowner is to do your homework. There are a lot of people you need to interact with and things you need to know to solidify your relationship with these people.
So, without further ado, let’s start this journey:
Do Your Homework
The first step is to create a “wants” and “musts” list along with noting down other details such as price, neighborhood, housing type, school district, nearby facilities, etc. These points will keep you under your budget while searching for a house according to the specifications. A secret to finding a house that fits in your budget is to set a personal price limit that is lower than what you are willing to spend. This way, if you do see houses that are priced a little high, you can stretch your budget.
Go through various listings online and start making calls to a handful of Sandy Springs home for sale to arrange tours. The first few visits should be all about cataloging the features of the house and finding out whether it matches your needs or not. Open houses allow you to check the competition and save you time from making an offer on a house that already has a line of high profile potential buyers.
Choose a Lender
Ask around in your friends’ circle for lender recommendation. Before choosing a mortgage lender, meet with at least three of them to find out what terms they are offering on the loan.
Picking a Loan
Before finalizing the loan amount, get a hold of your finances. This will help you to find out whether your income will allow you to make the monthly payments or not. Gather all your financial documents from your credit report to proof of income, bills and employment papers.
Get an Appraisal
An appraisal is crucial for getting the right loan amount. Lenders insist on it because they want to find out whether the Sandy Springs home for sale is worth the loan they will be providing or not. If the house value falls short, you need to look somewhere else to come up with the difference.
Make the Offer
So, you found the house of your dreams… it’s time to make an offer. From the settlement date to the deposit and contingencies, all of these things must be discussed in advance. If you are coming up with a counteroffer, make sure that you have attached comps to prove your findings.
Let’s say the seller comes back with a counteroffer, which is not to your liking, what should you do now? Why not go over the contingencies and come up with something that you both are happy with. You can let go of a few warranties in exchange for a low price or ask the seller to offer you repairs in exchange for the high price.
Don’t Forget the Home Inspection
This is your chance to get the negotiations back in your favor. If the inspector finds any major problems in the Sandy Springs home for sale, you can demand that the seller lower the price.
Closing the Deal
When everything is said and done from the appraisal to the home inspection and the pre-approval of the mortgage, you can finally proceed to closing the deal. Its official, you are now on your way to becoming a homeowner.
Need to get your dream house appraised? Head on over to America’s Network Realty Group Inc. and get a quick appraisal from experts.