Purchasing a property can be a bit scary. The Bennington first time home buyer tips below will make it less confusing. Properties are a big financial investment and home buyers should start with some introductory information.
Preparing to Purchase
Request a Pre-approval
Speak with a local loan officer and obtain a pre-approval. The programs and requirements will vary from company to company. Review the programs and settlement costs to determine the best option. This will help you understand the estimated up-front and recurring costs of real estate ownership. This also helps determine your price range.
Getting Assistance from a Realtor
Find a real estate broker to assist you through the home buying process. Choose one that best suits your personality. Knowledgeable brokers will help identify listings, negotiate offers, and ensure a smooth purchase. This is especially important to first time buyers.
Steps in the Buying Process
Real Estate Showings
Only view homes within your price range. This prevents the heartache of wanting a property that is not possible for you to purchase. Touring properties will take significant time, so staying within your budget will also prevent wasting of time.
Real estate agents may provide guidance on offers and help you negotiate them, but they do not render legal advice. If you need legal counsel, ask about employing a local real estate lawyer to explain legal jargon and request any desired changes to them. Do not sign any documents that you do not completely understand.
Inspections are not intended for discussing price changes as they sometimes do not find any issues at all. Also avoid negotiating obvious issues. Such strategies are not typically successful and lead you to lose the money spent on the inspection. In cases where defects are uncovered, homeowners may offer to address problems, give you money for them, or do nothing at all. Try to be fair with your negotiations and the other party may be more accommodating.
Walk-Thru Before Closing
Before the closing, you normally are given an opportunity to walk thru the home one more time. It is a good idea to perform this after the sellers have vacated the property. If any issues are found at the walk-thru, you should negotiate them prior to signing closing paperwork.
You must have proper identification at the closing. Bring certified funds for any amounts due. Also bring a personal check for any final changes. Upon closing, the property belongs to you!
Advanced Bennington First Time Home Buyer Tips
The home purchase process can be less intimidating if you keep the above in mind. For more comprehensive Bennington first time home buyer tips, contact Troy Richardson at Maple Leaf Realty by calling 802-447-3210 or by emailing firstname.lastname@example.org.