| Are you tired of renting and thinking about buying your | | | | to see the homes that you are interested in. |
| first home? But you have no idea of where to start? | | | | Once you have found a home you are interested in |
| Most first time home buyers have no idea of where to | | | | buying, you will write an offer to purchase the home. |
| begin. After all, buying a house represents a major | | | | Your agent will normally have a standard form that is |
| financial commitment. But with the right help it can be a | | | | used in your area for you to fill out to make your offer, |
| very easy process. | | | | and they will be able to offer suggestions as to how to |
| The first question you must answer is what is your | | | | best structure your offer. This is where the expertise |
| credit rating? Most first time home buyers will need to | | | | of an agent comes into play. |
| finance their home, so knowing if your credit score will | | | | When your offer gets accepted by the seller, you will |
| allow you to qualify for a loan is the first place to start. | | | | open escrow with a title company. Escrow usually is |
| Next, you will need to know how much of a mortgage | | | | 30 - 45 days long; the length is mutually agreed upon |
| you can qualify for. Finding a mortgage broker who | | | | by the buyer and seller. During this period you will have |
| can work with you to establish a price within your | | | | a home inspection performed, review the title report to |
| budget will save you time and allow you to narrow | | | | see if there is anything wrong with the property's title, |
| your search to homes that you can actually afford. | | | | and negotiate who will pay for any repairs to problems |
| Then you will need to learn about the housing market | | | | that the home inspector found. |
| in your area. How much are homes selling for where | | | | At the same time, your mortgage broker will be |
| you want to live? By knowing your budget, you can | | | | processing your loan application. You will need to |
| focus on neighborhoods that you can afford and | | | | provide tax returns, pay stubs, bank statements and |
| spend your time searching wisely. | | | | anything else the loan processor requires. |
| After becoming familiar with neighborhoods that | | | | Once your loan has received final approval, you will go |
| interest you, it is time to find a real estate agent. Most | | | | into the title company to sign all the documents for the |
| first time home buyers think an agent will cost them | | | | loan and the transfer of ownership. The loan will usually |
| money, not realizing that the seller pays for the agent's | | | | be made within 1-3 days of you signing these papers. |
| fees. | | | | When that happens the title company will record the |
| Having found a good real estate agent, and knowing | | | | change of ownership and you will be the proud owner |
| where you want to look for homes within your budget, | | | | of your first home. |
| you now start looking at homes for sale. Your agent | | | | It can really be that easy to buy your first home, |
| will be able to show you listings of homes for sale that | | | | especially when you work with the right professionals. |
| meet your criteria and price, and be able to take you | | | | |