When it comes to closing on your first real estate property, there are a number of steps and pieces of advice that you must keep in mind. These tips will help you make the right decisions for your home, spending your money wisely and getting the household that you will appreciate for years to come. With this in mind, follow these three points below to get you the home of your dreams.
#1: Apply For And Get Pre Approved For A Loan
In order to be sure that you are able to have full shopping power, you will need to get pre approved for a loan. This takes the "what if's" out of your home shopping process, and gives you plenty of peace of mind as you work to get the home of your dreams. Always be sure that you read over the terms of the pre approved loan with a real estate attorney to inspect for any suspicious processing points or junk fees. Taking advantage of these key points will provide you the help and service needed to have spending power and flexibility as you go on your real estate hunt.
#2: Make Sure To Get An Appraisal For Any Home
Before you put money down on any type of real estate, you should get it appraised by an independent professional who can look out for you. They'll be able to inspect for things like the upkeep of fixtures, curb appeal, paint composition and location of the property, in order to be sure that the asking price is in line with the true value of the home. An appraisal will help you to understand the true value of the home for your peace of mind while shopping and for your insurance information.
#3: Pay To Get A Home Inspection Of Your Own
Prior to closing on your property, you should make sure that you seek a third party home inspection. Seeking a home inspection will cost you between $200 and $500, and will be well worth it in terms of catching potential problems. These problems, including things like termites, foundational issues and utility issues, can make buying the home more trouble than it is worth -- or at least give you some leverage when it comes to negotiating the price.
Follow these tips and use them so that you are able to avoid mistakes and get maximum value when you're looking at homes for sale.