How do I get started in purchasing a home? If I were personally look for a home today...I would do the following things before contacting a real estate professional:
Before I would pick up magazines and start looking at houses regardless of my income, my employment record regardless of how much cash I am working with..I would not assume anything..because I know guidelines have changed..First things first, I would contact a mortgage professional that I trust and would find out what I qualify for in order to buy a home.Because if I don't qualify..I'm not buying!
I would gather docs because I know you will need them...I would start with the following items: 2 years tax returns, 3 months bank statements, 1 year's worth of rent checks.I would let my employer know I are buying a house and to expect a letter or phone call of employment verification. It may hold true for a landlord as well so prepare to discuss this with your landlord.
If you are in a lease read through your lease agreement and your lease there may be a chance you can break your lease if you purchase a home. If it is not clearly stated in your documents go to your landlord or property manager and ask what are the consequences in breaking the lease now may be the time to buy a home but it may also prove it's not!
One thing I believe..you have a better chance in buying a home if you are prepared..if you do some homework in advance..and if you keep control in what is going on around you! Don't be the buyer who said they did it to me!
That means trust the professional you are working with, plan on cooperation and make sure and make good sound decisions...understand the documents...read the fine print but most of all pay attention to the numbers...after all its You and only you paying for that mortgage!
These are things I would certainly do!
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It would be my pleasure to help you!
Midori Miller is a licensed real estate associate with CENTURY 21 Sundance Realty, Real Estate Trainer and Broker Associate. If you are interested in a career in real estate please contact me! All calls and inquiries are confidential. CENTURY 21 Sundance Realty is located in Volusia County with 2 office locations to better serve the public. Daytona Beach and Ormond by the Sea. midorimiller@yahoo.com (386) 453-3236
While this seems obvious to us, many buyers are starting out by dreaming and browsing the internet or driving aimlessly around on Sunday afternoons. The first step is determining your budget.
You have a great guideline for the buyer Midori...step by step down to calling the best professional in Daytona Beach!
Very good advice...now where are those Daytona buyers hiding? Oh, they are on Midori's web site!
Very good advice!
I really like that line... "Don't be the buyer who said they did it to me!". It's never the prepared ones who say that is it?
Midori --- great advice for anyone thinking about purchasing a home. Don't we wish that everyone would get pre-qualified before they begin to look? This is something that we stress with our Agent-Owners.
BTW --- I love your ? widgets --- cute.
Midori - This is good, sound advice for any buyer. The problem is, how to get this message out to them? So many buyers just want to find their dream home and then worry about the finances and their credit score later.
I love to work with educated and PREPARED Buyers. When they come to me after meeting with a Lender, I know they've been reading the internet on how to get prepared. This makes for a much more pleasant transaction -- no disappointments or last-minute surprises. Good list!
"I would let my employer know I are buying a house". I would definitely do this too! =P LOL But seriously, this is smart thinking, listing the exact items that are needed for financing.
Love your dancing question marks....too much media..too much "information" that does not apply to everyone everywhere and not forever and tooo many people who don't realize any of this so of course they are all experts....grrrrrr.
This is great advice and a great place to for buyer's to start.
Midori
If all buyers come ready willing and prepared to buy a home under your guidelines...they will succeed!
Good luck and sell well.