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Step 1: Are you Ready?

Posted by: raindrop 5 years, 11 months ago

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Knowledge and experience are the keys to successful real estate transactions.  As your agent, we will provide you with valuable information, such as data, and our expertise, which can be the essential keys to your success.

One of the keys to making the home-buying process easier and more understandable is planning. In doing so, you'll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the home-buying process.

Do you know what you want?

Whether you are a first-time home buyer or entering the marketplace as a repeat buyer, you need to ask why you want to buy. Some preliminary questions are:
  • Are you planning to move to a new community due to a lifestyle change or is buying an option and not a requirement?
  • What would you like in terms of real estate that you do not now have?
  • Do you have a purchasing timeframe?

Whatever your answers, the more you know about the real estate marketplace, the more likely you are to effectively define your goals. When we meet with you, we will go over the questions above, along with some others, to help get you started in the home buying process.

Do You Have The Money?

Homes and financing are closely intertwined. (Financing is the difference between the purchase price and the down payment, commonly referred to as debt or the mortgage.) The financing industry has changed tremendously throughout the mortgage meltdown, and continue to change on a daily basis, so it's important to meet with a lender early in the process to see what you qualify for.

In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan).
 

Is your financial house in order?

With the changes in the financing industry over the last few years, it's very important that your financial house is in order.  You need good credit, and full documentation for your income and expenses.  That means, for at least one year prior to purchasing a home, you need every credit card bill, rent check, car payment, and any other debts paid on time and keep the bill!
 

Click here for Step 2: Hire Coronado Island Realty.

For more information on buying a home, click here and contact Kate Gillingham.

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Our initial experience with you, especially with your demonstrable expertise, knowledge, and willingness to both educate and work with us regarding the market and related considerations particular to Coronado, resulted in a gratifyingly helpful and positive experience for us.

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