Ten Steps to Home Ownership

1. Check your bank accounts and your monthly budget and see how much money you can invest in buying a home. ( for down payment and closing costs)

2.Sit down with a lender , get your credit report and see how much  of a loan you qualify for and what monthly payments you qualify for.  Sometimes you may want to spend less than the amount so that you will have money for other things. You should choose an amount you are comfortable paying each month .

3.Interview three agents. Ask your friends who purchased a home recently for name of their agent. Hire an agent to be your Buyer's agent. Please note that term of contract with the agent can be a  iweek or month for a trial period. The seller pays the buyer's agent through agreement with listing agent. Find out if the agent expects you to pay any fees.

4.Sit down with agent and tell the agent your requirements.

5.Once you find the home , the agent will do the comps and help you write the offer.Go to an attorney if your State requires it or if you feel you do not understand the contract.

6.Get home inspections. Negotiate with seller if there are things that need to be addressed.

7.Shop for Mortgage.  Make mortgage application.

8.Stay in touch with lender.Give them all the documents they need.

9.Get title agent. Get home insurance. Call utility companies and tell them of settlement date. so they are in your name as of that date.Call your agent to find out how much to bring to settlement a couple of days in advance.

10.Walk through the house on day of settlement to see everything is in the same condition as it was when you made the offer and things that were to be repaired are repaired.You will receive the keys after you sign all the documents at settlement.

If you are looking to buy a home in Philadelphia or suburbs call Gita Bantwal at ReMax Centre 2153438200x124 I am an accredited buyers representative.