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a Checklist for home ownership Part 1

By
Real Estate Agent with Coldwell Banker Realty/Coldwell Banker Commercial NRT 30SA0872839 

A Checklist for HOME Ownership Part 1

Pre-Purchase Preparation

  1. Assess Your Finances:

    • Review your credit score and report.
    • Calculate your budget and determine how much you can afford.
    • Save for a down payment (typically 20% of the home price) and closing costs.
  2. Get Pre-Approved for a Mortgage:

    • Research and compare mortgage lenders.
    • Gather necessary documentation (e.g., income verification, tax returns).
    • Get pre-approved for a mortgage to understand your borrowing capacity.
  3. Determine Your Needs and Wants:

    • Make a list of must-haves and nice-to-haves (e.g., location, size, number of bedrooms/bathrooms, amenities).
  4. Hire a Real Estate Agent:

    • Find a reputable real estate agent to guide you through the process.

Home Search

  1. Start House Hunting:

    • Browse online listings and visit open houses.
    • Take notes and compare properties.
  2. Conduct Thorough Research:

    • Investigate neighborhoods and local amenities.
    • Check school districts, crime rates, and future development plans.

Offer and Negotiation

  1. Make an Offer:

    • Work with your real estate agent to draft a competitive offer.
    • Include contingencies (e.g., home inspection, financing).
  2. Negotiate Terms:

    • Be prepared to negotiate on price, repairs, and closing costs.
    • Get everything in writing.

Due Diligence

  1. Hire a Home Inspector:

    • Schedule a home inspection to identify potential issues.
    • Review the inspection report and negotiate repairs if necessary.
  2. Get a Home Appraisal:

    • The lender will require an appraisal to ensure the home’s value matches the loan amount.
  3.  
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Thomas and great information to share with buyers when they are buying a home.  Can I reblog this sometime?

 

May 23, 2024 08:16 AM
Thomas Santore Lic Associate Real Estate Broker

Sure no Problem

Thank you 

Tom S

May 23, 2024 11:01 AM
Bill Salvatore - East Valley
Arizona Elite Properties - Chandler, AZ
Realtor - 602-999-0952 / em: golfArizona@cox.net

Great for the vets, Thanks for sharing, make it a great Thursday and enjoy your upcoming Holiday weekend!

Bill Salvatore, Realtor- Arizona Elite Properties

May 23, 2024 08:29 AM
Thomas Santore Lic Associate Real Estate Broker

Thank you, you too!

Tom S

May 23, 2024 11:02 AM
Richard Weeks
Dallas, TX
REALTOR®, Broker
Great information, thanks for sharing.  I hope you have a great day.
May 24, 2024 02:48 AM
Thomas Santore Lic Associate Real Estate Broker

Thank You,

Tom S

May 24, 2024 06:15 AM