During this economy, it’s imperative that you know what to do as a homebuyer.
The tips below can help you to save money and time, as well as give you a piece of mind!
1. Make sure you get pre-approved for a mortgage before making an offer. Showing up with a pre-approval letter gives you a firm standing that you’re a serious buyer and have the backing to purchase the property.
2. Know when to quit. Keep your head. Reacting with emotion can damage your chances of getting the home you desire. Don’t get caught up in a bidding war for the sake of being the winning bidder or have yourself set living in a home in a certain area before you get a signed offer.
3. Put aside enough money to cover closing costs Find out a Good Faith Estimate of the loan-related fees are from your lender. Don’t go into the closing blind to what other costs you may have to pay for or else you may end up foregoing a new carpet for a month’s mortgage!
4. Try to have coordinating move in/move out dates Try avoiding moving all your things into storage while you live with relatives for two weeks. No one likes to move twice!
5. Home inspection? Definitely! No home inspection could mean finding a leak months later that could have been fixed before you moved in!
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