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Preparing for Your Home Search
As you get ready to search for a home, the following step need
to be taken to insure that you will have the best chance of finding your ideal
home while insuring that everything goes smoothly.
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Get a mortgage pre-approval from your lender. I cannot
stress how important this first step is. You need to know what your price
range is before you start looking. Most sellers will not accept an offer
without a pre-approval letter, and in this market, just a few hours delay
could mean the difference of whether you get that dream home or not. For a
free pre-approval, click HERE. If a
lender charges you for a pre-approval, go elsewhere. You will want to get
all your finances in order. Decide how much money you have for a down
payment. Your lender can help you with all aspects of your financing. Again,
if your lender is not helpful and does not answer all your questions, get
another lender. There are plenty of banks and mortgage companies out there
willing to bend over backwards to get your business.
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Decide what type of property you are looking for - single
family, multi family, condominium or maybe land on which to build a home.
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Decide on what the criteria is for your new home - number of bedrooms,
what size yard would you like, do you need to be close to public
transportation, etc. Make a list of the things that you would like in a
home, but keep in mind that you may not find everything you want. Decide
which items are the most important. (you need to be close to the
train, but maybe, just maybe, you could do without the hot tub and
the wine cellar.)
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What towns would you like to live in? Your budget may have
something to do with this (unless you currently own a home in Weston, MA).
Also the availability of transportation or distance to your work may have
some influence.
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Do some research to get an idea of what is available in your
price range. You can do this online, look through the weekly real estate
publications, or enlist the help of a Realtor®.
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Choose one Realtor® carefully, and stay with that person.
Nothing inspires a professional to seek and find the home of your choice
more than knowing that you are relying on him or her completely. You have
the right to expect your agent to go the extra mile for you. Work with
someone who has the capability to email new listings to you as soon as they
come on the market. Remember, a Realtor® can show you any home on the
market, so by going to multiple agents you will most likely be shown the
same properties.
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Be frank with your Realtor® about your finances. Any
financial information is kept in strict confidence. Secrecy only confuses
the picture and makes the search for the right home more difficult.
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Be available. Many homes do not last long on the market. If
possible, make arrangements to see a home as soon as possible if it looks
like something that meets your needs. It may already be under agreement if
you wait until the weekend.
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