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The Five Most Important Steps In Buying A Home
Author: Jim Johnson
Buying a new home can be one of the most important financial investments of your life, and so it is important to take the time and do it right. Sometimes home buying can be a long and tedious process too, and it can get wearing. But if you follow these five important real estate buying steps, it should help you make a good choice.
1. The first step is to know exactly what you are looking for before you even get started. So take out a piece of paper, sit down and carefully list all of the most important features of the home you want to buy.
Where do you want your new home to be located? Does it need to be near a certain school district? What size home will be needed? What size garage should it have? Do you want a one story or multi-story home? How many bedrooms and bathrooms should it have to accommodate everyone in your family?
There are plenty of other questions that you could ask yourself at this point, so try to get a clear picture of the kind of new home that you would like by brainstorming in advance.
2. Before actually starting to go out and look at properties, be sure to have your finances well in order beforehand. There is no better time to take a good hard look at your credit report, as it will have a major impact on the amount and kind of financing that you can get. If you find any discrepancies in your credit report, now is the time to get it taken care of as quickly as possible.
3. At this point it's time to decide what kind of property that you are interested in buying. For instance, would you prefer buying a home through multiple listings or a for sale by owner property? Would you consider buying a foreclosure? Or perhaps a HUD home?
What price range is the home that you would be interested in? If you are a luxury home buyer, then you should focus on that particular segment of homes. If you're a first time buyer, then most likely your sights will need to be set on much less expensive homes.
4. Now is a very good time to find the lender who will give you the best deal, and in get pre-approved for your home loan. This can help you in many ways, as going through this process will help determine for sure what price range you can afford, and it can also help you in the negotiation process as well. It's always an advantage when you already have your financing taking care of, and can go ahead and place a legitimate offer on a home without having to wait for pre-approval.
5. Due to the increasing complexity of buying real estate property these days, it makes a lot of sense to use a real estate agent to help you get tips and information, and steer you in the right direction to find the home that you want. The most important consideration is to make sure that the real estate agent is indeed working for you as the buyer and not for the seller of the home that you want to purchase. In order to find a high-quality, reliable real estate agent, ask your family and friends and anyone you know for recommendations. Very soon, you should have a short list of brokers and agents that you can choose from.
Sometimes home buying can be a little intimidating, but if you follow the five important steps listed above, it will help you stay on the right track and ensure that you get the best deal possible on the home of your dreams.
Article Source: http://www.articlesbase.com/non-fiction-articles/the-five-most-important-steps-in-buying-a-home-26986.html
About the AuthorYou can find phoenix real estate listings and las vegas luxury homes and more by visiting our Real Estate website.
You Can Find Homes For Sale on Websites Easily
If you want to buy or sell your home you can look at advertisements in the homes for sale section of the media or websites. But you also need practical advice and street smart insight to guide you right. It is your big investment and there is a lot of money at stake, so it helps to understand the inner workings of a real estate transaction. Making informed decisions can make you profits.
* When you sell your home you should be aware that the buyer's market is slow as there are more homes for sale than buyers. Oversupply can bring down the prices.
When you buy your home you should let your agent do your negotiations. He knows your needs. If you observe what is important to the seller you will be able to judge his circumstances and make a good buy.
A written offer is given to the owner of the home by the buyer which may be rejected and a new offer has to be made in writing. Changes are made according to both parties. A deadline is agreed to which both parties agree to finalize the deal.
You Can Make Your Offer Depending On;
* Survey of the property
Once a full agreement by both sides is complete then it becomes legally binding to both. The buyer then pays 5 percent of the deposit which becomes part of the down payment.
Homes for sale on websites is the right place to study the home buying and selling market trends, before you decide on your investment.
Real-estate-locators.com is an online directory for real estate in Canada where you can find homes for sale advertisements. Home valuation and finding homes to buy can be done through this website.