Purchasing a home can be a complicated process without the right guide to follow. Fortunately, there are some guidelines you could use to make your journey to a home investment a less bumpy ride.
Hire a realtor
For you to avoid the common pits that first-time homebuyers often fall into, it would be best if you hired a realtor right from the beginning to help you with looking for a home. The benefit of getting a realtor is that they have adequate experience in real estate and are conversant with new property listings.
However, be careful in hiring a realtor. For instance, a valid and certified city Immobiliemakler in Hanover can always spot an overpriced or an abnormally underpriced property and advise you accordingly. Ensure you ask for referrals from friends who have worked with the realtor beforehand to get one who will execute your requirements professionally.
Find a home
For many people, before they even decide to indulge in the process of buying a home, they always have the ideal one in mind. But if you have no idea where to start, begin by making a list of the location, house type, and amenities that you would like your future home to have.
From there, present your list to your realtor who will show you various houses that meet your expectations. You can also follow it to find your perfect home in property listings. Tour the houses and neighborhoods and research about everything. Before you come into a decision, seek advice from the realtor and other relevant people about real estate about the property.
Get a mortgage pre approval.
While it is impossible to have a mortgage banker lined up for you before buying a home, it is essential to get a mortgage pre approval. Check with your bank institution for the application process and remember to shop around for mortgage bankers to compare terms and interest rates.
Please don’t settle for the lowest rates because they can vary from fixed interest rates to adjustable interest rates. So ensure you comprehend the terms before you zero in.
A mortgage pre approval helps you to know how much of a home you can afford. In addition to that, some realtors or property sellers will not agree to work with you unless you have mortgage pre approval papers.
Negotiate on the pricing
You don’t have to buy a property for the exact listed pricing, negotiate the offers. Most property sellers tag their homes at a higher price because they expect the buyer negotiations to narrow downwards, so woe unto you if you don’t negotiate.
On the other hand, others put a considerably low price to trigger competition and bidding wars. Bidding wars cause buyers to bid enormous amounts for the buyer to shortlist them for the property, but thanks to a realtor who can know the reasonable price and advise you accordingly. They can also provide you with comparable sales in regards to location, size, features.
Do a home inspection and ask about the closing costs.
Ask your realtor about the closing costs, the payments to a real estate attorney to certify the sale agreement, home inspection cost, and the realtor’s commission.
It is always advisable to do a home inspection or appraisal before you close the deal. Hire an independent home inspector as such a person will not be subject to bias. The home inspector evaluates the state of the property; if not up to expectations, you may request for servicing or discount.
Those five steps simplify your journey for purchasing a home.