Answering Your Questions: Real Estate Q&A for Prospective Homeowners

By
Real Estate Agent with Real State Company

 

In 2016, about 35% of home buyers were first-time buyers. 

Buying a home for the first time is a daunting task. Even if you've bought a house, buying another still presents the same anxiety and questions. 

You've put in hours of searching, doing home tours, and badgering your realtor with questions. It's nothing you should be ashamed of because you're doing what you need to do to check all the boxes. 

It's also okay if you don't know what questions to ask when buying a home. Keep reading below for a real estate Q&A.

What's My First Step?

The first step should be figuring out your budget and getting pre-approved for a mortgage. This will keep you from looking at homes outside of what you can afford, and it gets the ball rolling for the buying process.

Your lender can also inform you of down payments. This will help you put your current financial situation into perspective. Are you good to go, or do you need to save more?

Lastly, pre-approval lets the person selling the house know you mean business.

What Kind of Credit Score Do I Need When Buying?

You'll typically need a score of around 650, give or take a bit. The better your score, the less of a risk you are to your lender.

If you don't have a great credit score, there are ways you can start improving your credit score now. 

What Should I Be Asking the Seller?

There are a large handful of questions you should be asking, but we can narrow it down to a few in this real estate Q&A. 

You definitely need to ask if there has been any flood damage from the past or if they've done any major repairs or renovations. Ask if they've had to call pest control and if so, how often. 

Never shy away from asking them any questions that are important to you. This can range from knowing more about the local school system to what kind of Well Pump they have in the backyard. 

If you ever need a new pump, check out PumpBiz.

Should I Inspect the Home?

No matter what, the home should be professionally inspected before you buy it. Some loans even require it. 

There may be problems below the surface that you would never know about until the home was yours. 

How Long Does It Take to Find a Home?

Unfortunately, the answer to this question is tricky. It all depends on the situation.

It depends on things like your budget, the housing market of the specific location, and your urgency in finding a home. While it's best not to rush buying a home, don't be afraid of taking a little extra time.

Your Comprehensive Real Estate Q&A

Buying a home is one of the most stressful processes so we are here to make it easier with the above real estate Q&A. Make sure you read all questions and answers for some help.

From answering questions about pre-approval to questions you should be asking the seller, we got you covered. Now, take a deep breath because that perfect home is out there for you. 

For more on tips on an array of topics, from buying sofas to improving your home, check out the rest of our site. 

 

 

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Rainer
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Sham Reddy CRS
H E R Realty, Dayton, OH - Dayton, OH
CRS

That's very important info for prospective homebuyers! Thanks for sharing! The first step should be figuring out your budget and getting pre-approved for a mortgage. This will keep you from looking at homes outside of what you can afford, and it gets the ball rolling for the buying process. Your lender can also inform you of down payments. This will help you put your current financial situation into perspective. Are you good to go, or do you need to save more?

May 28, 2020 03:55 AM #1
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MichelleCherie Carr Crowe Just Call...408-252-8900
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years

Always "The first step should be figuring out your budget and getting pre-approved for a mortgage."

May 28, 2020 07:00 PM #2
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Danish Mehmood

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