Each person has their own tastes and wants but there are some basic fundamentals to consider when searching for a home.

First of all, are you a first time home buyer? Do you plan on staying in the home at least 5 yrs? Do you have the cash to perform upgrades and maintenance? Do you have Kids? What schools are nearby and how are they rated? Do you have pets? Do you commute? Have you been pre approved for a loan?

The very first thing you need to do is to find a reputable loan broker and get pre approved for a home loan. Does not matter if you are not ready to purchase right now. If it is a consideration over the next year, contact a lender NOW. There may be some things you are unaware of on your credit report that could cost in terms of higher interest rate etc. A reputable and experienced loan officer will be able to guide and give suggestions to clean up your record to allow you maximize your power to obtain the lowest interest rate and terms for a home loan.(I have several reputable lenders you can pick and choose from.) Further you may run into a home you like when least expected. By having your loan already in place gives you the edge in presenting an offer. Item of note: If you are looking for a short sale or bank owned property you MUST have a loan in place. Many banks are requiring you be pre approved through their sources to ensure you are a qualified buyer. You can use the lender of your choice but they are only wanting to negotiate with buyers who are truly qualified to purchase.

Once your loan has been pre approved you need to look for a Professional Realtor®to assist you. One that will sit down with you to discuss your overall real estate plan and will be a sounding board as well as information center to determine best plan of strategy.

Once your comfort level has been determined in mortgage payments, then look for those areas where housing prices will fall into that category. From there determine which neighborhoods and areas will best fit your needs for commute, schools, budget etc.

Are you comfortable with a fixer upper? Do you want a move in ready home? Remember fixer uppers can involve major renovations. Foundations are very expensive to repair.

You found a home you like. What next? Your Realtor®  will pull comparable homes and sales and discuss  your options for presenting an offer. Your offer is accepted. Earnest money will be required from seller in order for the seller to take the home off the market for you to pursue your inspections and finalization of loan. Usually up to 3% of the purchase price. In your offer there should be a time period of grace for you the buyer to perform any and all inspections and review seller disclosures to determine if you want to proceed with the purchase and/or go back to seller to renegotiate price, repairs etc. or you can walk away and not lose any money. A 3rd party which is neutral, usually a title company, (called an escrow account)will hold the buyers earnest money in a non interest bearing account and will be responsible to perform title search to ensure there are no liens or clouds against the title other than seller mortgage and will gather all of the particulars from both sides until the loan has been completely funded to close escrow.

I would advise the buyer to have performed at buyers own costs unless negotiated in the purchase offer for seller to provide the following inspections:

Physical Inspection or Home Inspection by a licensed Home Inspector, Roof, Plumbing, Sewer, Foundation , Electrical,Heating and Air, Pool and Spa if applicable and Termite.

A good physical inspector will cover many of the items above and will advise you to bring in specialists if there are concerns found on home inspection. Usually we can have the seller perform a Termite Inspection. There is a clause in the contract to determine who pays for what in a termite inspection for items of repairs needed that is found. Typically a section one item (any wood rot, pests or termite damage) is Sellers responsibility. Section Two(plumbing leak with no wood involvement, caulking around water fixtures, drippy faucets etc) us Buyers responsibility upon occupying the home. Remember, Everything is always negotiable.

This is just a short summary of what to consider. For more detailed information and to discuss your personal real estate goals and intentions contact me personally.