(Please see my blog for Part 1 first)
Once you have established a Buyers Agent that you will be working with to find your ideal home, and have arranged for financing,
1) It is important to search for the type of home that you loan program allows.
Ask your lender what type of home it must be. Some loans will not work for any type of manufactured home. Other loans may not work if the home does not measure up to the loan program standards, such as safety or security issues. If the home needs repairs to qualify as finance-able, it's possible you may need to add repairs into your mortgage, and only certain programs allow that.
2) Work with your Buyer's Agent to narrow your choices for the home search.
Do you want to stay within a certain school district? Is there a limit to how far you wish to travel to work? The basics of minimum bedrooms and baths needed are fairly easy choices, as is desiring a garage or basement. If the number of homes matching your search is too small, you might consider adding a bathroom or garage later. Sometimes you need to think outside the box!
3) Once you begin looking at homes, you may find that you want to narrow or widen your search further, so let your agent know of your choice changes.
They will need to adjust your automatic search on their system in keeping with your desires. For example, you may decide that with Schools of Choice in Michigan, you wouldn't mind expanding your search a mile beyond the desired school district in all directions. Maybe you have noticed that homes over ten years old simply won't do. Are you dying to have a fireplace? All of these things can be searched on.
4) When you find a home that will work for you, do not hesitate to make an offer through your Buyer's Agent.
Even if a home has been listed for months, it could be sold right out from under you tomorrow! There is some sort of phenomenon in real estate that occurs when your are considering writing an offer - suddenly others want to make it their home too!
5) Be up front with your Buyer's Agent about any special considerations - especially if you need to close a sale on your current home before you can purchase another.
You would also be surprised that some Sellers are willing to accommodate unusual circumstances - such as waiting longer to close.
6) Have your agent go over the process that happens between acceptance of your offer and closing.
See part 3 of 3 for the details!
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