1 Talk with friends that have bought a house in your area. Ask them who they used as a loan officer and who they used as an agent and ask how happy they were with them.
2 Call the recommended loan officer and find out about types of loans and your qualifications. Get a letter from the loan officer saying that you are qualified.
3 Call the recommended agent tell them you want someone to represent you and make an appointment to walk thru homes. Tell them what you think you want in a home.
4 When you find the right house your agent will help you negotiate. Get a home inspection-this is not the same thing as an appraisal.
Your agent will help you thru the rest and coordinate the closing.
Buying a home was the best thing my wife and I ever did. I wish the best also for you.
2007-06-29 03:02:15
·
answer #1
·
answered by glenn 7
·
0⤊
0⤋
Start with an attorney.
Most people who buy a house don't have the cash. They have to take out a loan, with a mortgage. Most people don't fully understand most of what the mortgage broker says, all they know is what the initial payments are going to be.
When you find a house you want, you're going to have to sign an Offer, which becomes a Contract when accepted. It will be several pages, and most people only understand the property address and the price. Most people don't know what the Mortgage Contingency or Inspection Contingency means, they don't know what "Time is of the essence" means, and only vaguely understand what "Closing" entails.
Hire an attorney to represent you at Closing before you even look at a house. They will tell you what to look for in the Offer, possibly help you negotiate the price or correction of faults, and make sure you understand what the lender is telling you or asking for.
2007-06-29 10:00:29
·
answer #2
·
answered by open4one 7
·
0⤊
0⤋
1. Figure out what you can afford. A good rule of thumb is that for people with at least average credit, and not too much other debt, can afford about 3.5 times their income plus down payment. So if you and whoever else is buying makes 70k a year... and you about 10k to put down your upper home range should be about 250k. Then start your bottom target about 20 % below that...So figure look for homes in the 200-250 range on that income. your prefect price may be somewhere in the middle. You can get pre-qualified with a bank if you want, although we didnt and no trouble at all.
2. Call a realtor, get a RECD. from someone you know who has used a realtor in the past they liked. From here on out a good realtor can almost talk you through the enite process once you tell them your price range.
2007-06-29 10:01:31
·
answer #3
·
answered by Anonymous
·
0⤊
0⤋
You need to prequalify for a mortgage, this step will let you know how much you can spend ( it does no good to look at $800,000 houses if you can only afford the mortgage on $700,000). Most real estate pros can help with this step. Next contract with a buyer's agent (they are paid by the seller's broker so it should cost you nothing). Your buyer's agent will be your guide and advocate through the remainder of the process. Your buyer's agent will show you the houses, help you determine the amount to offer and negotiate the conditions of the sale.
2007-06-29 10:09:42
·
answer #4
·
answered by exitbrian.com 2
·
0⤊
0⤋
I would start out be getting pre-approved for a loan, that way, you'll know exactly how much of a house you can be looking for. Next, start online searching MLS websites. I'd find a buyer's agent to help you through this process. Good luck!
2007-06-29 11:33:59
·
answer #5
·
answered by Cookie On My Mind 6
·
0⤊
0⤋
Well first do you have a house in mind? Also have you tried to see if you qualify for a loan? The hardest part for some is getting qualified. Do you have money to put down or are you looking for 100% financing? Your best bet is to shop around for a house and try to get approved to see how much you qualify for. If you would like I can pre qualify you and run some senarios by you and let you go from there. You can take that and shop around other investors to see if they can beat it. My number here is 3056720092 ask for Henry
2007-06-29 10:41:29
·
answer #6
·
answered by Henry R 2
·
0⤊
0⤋
Lots of good suggestions here.
First, go to http://www.annualcreditreport.com to see how your credit is looking. Challenge anything that is wrong and get it corrected.
Ask friends and family for recommendations on a lender. Please avoid the internet, this can be problematic. Get pre-qualified, but also bear in mind that you may get pre-qualified for more house than you can comfortably afford, so know your finances.
Find a Realtor, also through recommendations. Some people suggest that you go to a Realtor that has been working forever, but don't be afraid to work with someone new. They are trying to establish their reputation and will have more time to spend with you than someone who has been in the business awhile.
2007-06-29 12:27:54
·
answer #7
·
answered by godged 7
·
0⤊
0⤋
First you should review your credit score and make sure that you have a score that will accommodate loan approval. Then you must be able to prove up on your current income. The best thing to do is choose a realtor in your area that comes highly recommended and contact that realtor for advise.
2007-06-29 10:02:45
·
answer #8
·
answered by james p 3
·
0⤊
0⤋
Get pre-qualified for a loan.
2007-06-29 09:58:22
·
answer #9
·
answered by Bostonian In MO 7
·
1⤊
1⤋