Actually, there are many steps one must take when preparing to buy a home in the Shreveport and Bossier City La housing market. The home buying process requires that due diligence is performed by the potential homeowner in order to avoid potential setbacks. The following is a starting point and will help eliminate a lot of frustration, guess work, and even wasted time that sometimes arise when these elements are lacking:
The 1st thing a home buyer needs to do before even looking to purchase a home or property is to have their financing approved. This typically involves meeting with a banking or mortgage loan officer to find out one's credit rating. After one finds out where he or she stands as far as credit and financing is concerned, the following things become evident:
•· One will know if and how much "house and/or property" he or she can afford to purchase in the Bossier City or Shreveport or surrounding areas which include Barksdale AFB area, Benton, Haughton, Minden, Blanchard, Keithville, Stonewall, Plain Dealing, La and other outlying areas in northwest Louisiana. This information will also help your Shreveport Bossier REALTOR or real estate agent know what price range you wish to examine.
•· If your credit rating is low or non-existent, the lender that you are working with will be able to recommend what actions you need to take in order to establish a good credit rating. The American dream of homeownership is still alive and well! With patience and persistence, working with your mortgage banker or lender, and your Shreveport Bossier City Louisiana REALTOR or real estate agent, you will eventually realize that dream.
•· One will save time (time is money) and possible headaches should you find what you want. Since we are experiencing a "buyer's market" in the real estate industry at present, there is competition from other buyers out there. Suppose one found the perfect house but did not have financing approved....that perfect house may be snatched from under you! Getting approved for a home or mortgage loan may take as much as 7 to 10 days. In the meantime, another prospective buyer could swoop in and seal the deal. This could make you very unhappy!
If you have already selected a lender or financial advisor of your choice, then that's great! However, if you have not, a member of Summit Executive Realty's home team will be glad to assist you. Contact Summit Executive Realty, today to begin the first steps in buying a home or property in the beautiful northwest Louisiana area.
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