Five Rules for Buyers

1. Have a loan approval. It’s wise to get pre-approved for a loan even before you view your first home. If the credit report contains inaccurate information that you were not aware of, it can be time consuming to rectify. You’ll also know what loan programs you qualify for.

2. Have clear goals. Create a realistic idea of the property you’d like to buy. Make two lists: One of items you can’t live without and one list of the features you would enjoy. Remember, no place is going to be perfect.

3. Diligently shop Mortgages but make sure the person you are talking to is reliable, know what he/she is talking about, and has a reputation for getting the job done in the time allotted with the best program and rate for you.

4. Have a home inspection with a reputable home inspector. Talk to 2 or 3 inspectors and then choose. It is not uncommon to find problems and once the report is done negotiate to get the most for your money. Have a walk through before closing and make sure all issues are resolved (and in writing) to your satisfaction. Ask also for a one-year Home Warranty plan.

5. Use a Buyer’s Agent and make sure the agent is familiar with the area where you are buying and can really help you locate the house you want as well as negotiate on your behalf. A Buyer’s agent can save you time, hassle and thousands of dollars.

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