Buying a house are getting more and more available and attainable as house prices dipped, houses are foreclosed and bank mortgage rates are reasonable low. And with the affordable housing loans, many wanted to buy their dream house.
Related: Home Features and Red Flags You Should Check When Buying A House
Tips to Buy a Home Fast
- Work and out how much you can afford to buy your dream house – What you can afford really depends on your earnings, current monthly expenses, credit score, down payment that you can only afford and the interest rate.
- Check your credit report and your credit scores – Before you start shopping for a home to give yourself time to fix any mistakes you find. You can check your credit reports for free once a year from each of the three major credit reporting companies. This way, you are able to strengthen your credit.
- Get preapproved – Get preapproved and not just prequalified to get the actual cash you can pay. By doing so may even have an edge over a cash buyer who may be offering less cash.
- Work with professionals – Work with real estate and mortgage professionals who have a track record of good standing and meeting deadlines. Don’t be scared to ask for references.
- Protect yourself – No matter how much you love the home and the place, your offer must be determined upon a satisfactory home inspection, so you aren’t pinned with a house with unknown problems.
- House shopping – When shopping for a house, don’t just see one property. Check the area for schools nearby if you have kids, recreational area like parks, the community and neighborhood and more. [Tweet “Shop at least 3-10 properties before you set your heart to what you really want.”]
- Get a home inspection – Before you finalize your decision to buy your dream house, make sure to have a thorough house inspection so you are aware of some damages in the house, if any. Request the following survey reports: inspection, hazardous materials, earthquake faults, flood plains, pests, dry rot, rodents and crime statistics.
- Make an offer – an earnest money is advisable when offering. This means you are committed on buying the house or you lose your deposit, unless you do not get the final mortgage agreement.
- Sign papers and seal the deal – Sign and seal documents related to the property and the mortgage agreement from your real estate agent.
Be aware of the following:
- If a seller won’t allow a home-inspection, he or she might have something to conceal and cover up. Professional virtual assistants for real estate can make some outgoing calls to sellers and schedule appointments for you to properly inspect the house.
- Some people say this is a good time to buy a house as prices are low but others say it’s a bad time to enter the housing market. It is strongly recommended to discuss and take into consideration all advice before buying at this time especially from real estate experts.
- Be wary of a real estate agent who is on a rush to sell a property. They might know of a portentous event like a market crash. Try to look for any peculiar offers agents provide.
