by Dan Wolf
on Thursday, April 30th, 2015 at 7:33am.
The home buying process is often lengthy and involved. Which is probably for the best. It is, without a doubt, the largest purchase you will ever make. So it is very important that you have all of your financial responsibilities figured out, and a commitment to a relocation planned, several years before you even actually begin looking. If you are ready to take the leap and buy a new house, here are 5 tips to help you complete the entire home buying process.
Work with the Right Agent
Once you have the money for a down payment, and have squirreled away at least 20 percent for everything else, it's time to find an agent. While it is possible to go it alone, for optimum results we recommend finding an agent to help you get the best price for the properties you are interested in. Look for someone who has experience in the type of property you are looking at, and knows the area in which you plan to move.
Search Out the Best Rates
After you settle on an agent, you'll need to find a lender. While your lender will no doubt have great advice on the who, where, and what, it behooves you to look as well. Searching out the best rates, in terms of a potential mortgage, can mean the difference of thousands of dollars. So remember, the only person that really matters in the home buying equation is the buyer.
Lock Down Any Additional Costs
Ask beforehand what types of fees will be associated with the lending process. It's not uncommon to have brokerage fees, underwriting fees, and loan origination costs tacked on at the end. Look into getting several quotes from multiple lenders. Sometimes what looks best on the surface isn't the best in the long run. So shop around.
Exhaust Your Resources
If you truly want the most ideal house, in the best location, for a price that you love, never settle. Use every resource you have to find the property you want. This includes visiting open houses, looking online, talking to your agent, asking around; whatever it takes. You may just find that waiting for the next best thing works better than jumping on the first property that you fall in love with. Exhausting your resources is worth the wait.
Make an Offer and Close
With your agent's help, after you find the home of your dreams, draft an offer. Be sure to include your list of wants, your 1-2 percent earnest deposit, and be prepared for a counter offer. If after you negotiate, you still think it's worth your money, then it's time to close. At the meeting you will need all of your paperwork and a certified or cashier's check that covers the cost of closing. Review any paperwork your signing and don't be afraid to ask questions. After that, accept your keys and begin the next process: moving in! For more information on how we can help you, please contact us any time 248-9653 or visit us online at www.anchoragehomesearch.com.