Friday, June 17, 2011

The Top 10 Steps To Home Ownership

Here are "The Top 10 Steps To Home Ownership.  It is really not such a complicated process on the surface.  There are lots of details that need to be looked after but be assured I will guide you through the process.  There are lots of properties to choose from.  The new home builders are the most aggressive at this time as they have inventory to sell but the home owners who have their homes on the market are anxious to sell as well.  There is also mortgage money available and it is cumulatively priced with programs for most applicants.   

1. Are You Ready? In addition to a down payment, you also need cash for closing costs.  Find out how much you have and how much you will need.  Several Loan programs help with these costs.  You may also be able to make this a negotiating point in the offer you put on a property.

2. Hire A REALTOR:  Be sure you’re working with a true professional.  Make sure your agent is a REALTOR. 

3. Get A Loan Pre-Approval: The real issue with real estate financing is not getting a loan, but to get the loan that’s right for you.  Meet with lenders to find out how much you can afford and find out which programs are available.

4. Look At Homes:  Before you look, list the features and benefits you want in a home.  Consider pricing, location, size, layout and extras.  Decide what’s most important and how much you’re willing to compromise.

5. Choose A Home: Review your notes to narrow down the choices.  When you find the home of your dreams, your REALTOR can help you be sure it is a good fit for you and your family. 

6. Get Funding:  The mortgage you choose will be determined by how much down payment you can afford, your credit rating, and your income.  Shop around with mortgage brokers, banks, credit unions, and insurance companies to find the financing that works for you.

7. Make An Offer: An offer is more than the price you’re willing to pay.  It also includes the terms and timeline of the agreement. Sellers may accept the offer, reject it or make a counter.

8. Get Insurance:  Shop around for title insurance, homeowner’s insurance, flood insurance, and a home warranty.  Ask your REALTOR which of these are required for your new home.

9. Closing: This is the official meeting where the transaction happens.  A closing attorney will make sure all of the required paperwork is complete. Then it’s official.  You get your new keys and the seller is paid for the home.

10. What’s Next:  While you’re moving in, transferring utilities to your name, and checking out the neighborhood, be sure to enjoy your new home!

Visit my website on your desk/laptop or on your mobile devise and see if you see anything of interest.  If you prefer call and I will ask a few questions to determine what is important to you and do the searching for you.  Love to hear from you.

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