Advice for First-Time Buyers

     - Pre-Qualification: Meet with a mortgage broker and find out how much

       you can afford to pay for a home.

    - Pre-Approval: While knowing how much you can afford is the first step,

       sellers will be much more receptive to potential buyers who have been pre-

       approved. You’ll also avoid being disappointed when going after homes that

       are out of your price range. With Pre-Approval, the buyer actually applies

       for a mortgage and receives a commitment in writing from a lender. This

       way, assuming the home you are interested in is at or under the amount

       you are pre-qualified for, the seller knows immediately that you are a serious

       buyer for that property. Costs for pre-approval are generally nominal and

       lenders will usually permit you to pay them when you close your loan.

    - List of Needs & Wants: Make 2 lists. The first should include items you must

       have (i.e., the number of bedrooms you need for the size of your family, a

       one story house if accessibility is a factor, etc.). The second list is your

       whishes, things you would like to have (pool, den, etc.) but that are not

       absolutely necessary. Realistically for first-rime buyers, you probably will not

       get everything on your wish list, but it will keep you on track for what you are

       looking for.

     - Representation by a Professional: Consider hiring your own real estate

       agent, one who is working for you, the buyer, not the seller.

     - Focus & Organization: In a convenient location, keep handy the items that

       will assist you in maximizing your home search efforts. Such items may

       include:

1. One or more detailed maps with your areas of interest highlighted.
2. A file of properties that your agent has shown you, along with adsyou have cut out from the newspaper.
3. Paper and pen, for taking notes as you search.
4. Instant or video camera to help refresh your memory on individual properties, especially if you are attending a series of showings.
5. Location: Look at a potential property as if you are the seller. Would a prospective buyer find it attractive based on school district, crime rate proximity to positive (shopping, parks, freeway access) and negative (abandoned properties, garbage dump, source of noise) features of the area?

     - Visualize the house empty & with your décor: Are the rooms laid out to

        fit your needs? Is there enough light?

    - Be Objective: Instead of thinking with your heart when you find a home,

       think with your head. Does this home really meet your needs? There are

       many houses on the market, so don’t make a hurried decision that you may

       regret later.

     - Be Thorough: A few extra dollars well spent now may save you big

        expenses in the long run. Don’t forget such essentials as:

1. Include inspection & mortgage contingencies in your written offer.
2. Have the property inspected by a professional inspector.
3. Request a second walk-through to take place within 24 hours of closing.
4. You want to check to see that no changes have been made that were not agreed on (i.e., a nice chandelier that you assumed came with the sale having been replaced by a cheap ceiling light).

    - All the above may seem rather overwhelming. That is why having a 

       professional represent you and keep track of all the details for you is highly

       recommended. Please email me or call me directly to discuss any of these

       matters in further detail.