If you stumbled on this blog first go to part one then read this blog.

Okay as discussed in the 1st blog we picked an area(s) which we want to live and we have a pre-approval from a lender.  So we now know how much we can afford and the area we want to live in.

What do you want from a home? What is important to you?  I have my clients make a 3 part list.

A. What you MUST have - meaning if the house doesn't have it - you do not want to even look at it.

B. What would be a bonus - not a deal breaker, but would be icing on the cake

c. What you really do not want - IE: a neighborhood without side walks, busy street.......etc.........

This list should be shared with your Realtor, so they know what you are looking for and they are not waisting your time seeing homes that really do not fit your needs.

Have your Realtor Send you listings that fit what you want, sometimes a drive by is good to do 1st, not all pics on line are a good representation of the home.  If the price of the home is too good to be true, it probably is!

Set an appointment to view homes with your Realtor............I try to never show more then 6 at time to first time home buyers (relocation is different).  You need to take it all in and remember what you saw.  Feel free to bring a camera and take notes.

Every home will be different in status - believe me.........some will be bank owned, some will be short sales, some will be just a "regular sale".  So you are not only taking notes on the condition of the home, but it's case scenario.

Meaning - How fast can you get into the home, if it is a short sale be prepared to wait ( depending what stage of the game they are in), is it sold "as is" is the seller willing to pay closing cost and pre-paids?

You do not need to research every home you look at, but the ones you are interested in you should know more about.

Make a list of the homes you really liked and try to narrow it down to your 3 favorite.  Then revisit these homes and make a "good list".  Check it against what you really wanted in a home list you made before.  Make notes about repairs needed.  Is the home going to nickle and dime yo to death?

Cosmetics are not as big of a deal as needing say.................a new roof or a new furnace. Do not buy the home just because it is pretty!  Personally I would buy a home with good "bones" and updated mechanics but needs paint and flooring apposed to the home that needs updated mechanics and roof but shows very well. 

Next - Part 3 - preparing to put the offer on the home - next week