Buying a Home in Manville, NJ While Avoiding Costly Mistakes!
Don't miss these simple steps when looking for your new home. Take the time to consider the following and you will save yourself thousands. Keeping a clear head will also smooth the process of buying a new home, saving time and money, in addition to eliminating what could become a stressful situation in advance.
1. Being Honest and upfront with your REALTOR and your lender about your credit history is a great start. Your credit, whether good or bad, affects everything from your down payment to your interest rates. Your REALTOR or mortgage consultant can often guide you toward getting credit problems corrected or completely removed from your credit report before you apply for a mortgage or make an offer on a home.
2. Getting pre-qualified for a loan by a lender before you begin your search for a new home will allow you to know in advance exactly what kind, and how much, mortgage you can afford. There is no sense in looking at homes that are out of your price range. Getting pre-qualified also makes it possible for you to make an offer on your new home with confidence and gives you leverage when negotiating the price. This will help you in Buying a Home in Manville, While Avoiding Costly Mistakes!
3. If the seller does not offer a home warranty on the house you want, ask your REALTOR to make it a part of the written offer that you make. A home warranty can save you thousands of dollars in repairs, and can often be obtained for a very small fee. A standard home warranty covers the electrical, plumbing, heating and air conditioning systems as well as major appliances.
4. Always ask your REALTOR for a comparative market analysis of the home. This report compares similar homes in the neighborhood, before you make an offer so that you know in advanced if it's priced properly. A home is not just a place where you live - it is also an investment. Take the time to visit several homes before you decide to make an offer on one - you know exactly what is on the market. Be sure you are making a wise investment. Thsi is essential in Buying a Home in Manville While Avoiding Costly Mistakes!
5. Make your offer contingent upon a home inspection and if repairs are needed, re-negotiate your offer. Hire a professional ASHI approved inspector to inspect every aspect of the home thoroughly. Doing this can save you thousands of dollars in repairs and many headaches down the road. A good inspection can also allow your REALTOR to negotiate for any repairs prior to closing. If the seller is not willing to make the necessary repairs, remind them that the bank/lender will also require the home to be in good condition before they make a loan for the purchase.
6. Take into account your present homeowner or renter status. If you already own a home and must sell it before you buy a new one, it is best to get a REALTOR to do a complete market analysis on your present home. This allows you to know how much you can sell your current home for before you make an offer on a new one. If you are leasing or renting, the lease's expiration date will give you a timetable for your new purchase. Review this with your REALTOR well in advance of when you would like to move.
7. Choose your agent wisely. Working with a full-time professional real estate agent is a must. Ask questions of your agent. Find out how knowledgeable he or she is about houses currently for sale in your price range and also about the houses that have recently sold. Can your agent recommend a good mortgage lender that has the reputation of excellent customer service and low rates? Does your agent ask questions of you to have a full understanding of what you are looking for and to help you get the most home for the money? All of this is crutial in Buying a Home in Manville, NJ While Avoiding Costly Mistakes!
For more great tips: Visit my web site at: http://www.CarolKronmaierHomes.com
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