What to Consider When Buying a Home.
Buying a home can be an overwhelming process. From financing to negotiating to closing, there are a lot of moving pieces that can leave homebuyers bewildered.
A real estate agent can help guide you through each step of the buying process, offering sound advice along the way. By working with a professional agent who knows the ins and outs of the real estate industry, you’ll not only end up with a great home, but you’ll also walk away with a great experience.
Here are some of the key areas that an agent can help you with:
Getting pre-approved by a lender
By providing your real estate agent with some basic information about your income, savings, and debt, he or she can assist you in getting pre-approved by a reputable lender. The lender will then go over your financing options, what monthly payment amount you can afford, and what you can expect for down payment requirements and closing costs.
It is important to educate yourself before speaking with a lender. For instance, “An FHA Loan is a loan that is guaranteed by the Federal Housing Administration. There are many FHA-approved lenders issuing FHA loans, and you can qualify for them with a lower down payment and a lower credit score,” states Christy Rakoczy, experienced personal finance and legal writer.
In addition to FHA loans, there are Home Equity Conversion Mortgages, 203(k) Improvement Loans, Energy Efficient Mortgage Loan Programs, and more. Doing independent research is essential to making an informed decision on which loan will be right for you.
Click here for additional material on FHA Loans as well as other loan types. Equip yourself with tools that boost your confidence when navigating the home buying process!
Choosing a home
For most buyers, choosing a home is an emotional process. An agent can assist you in this process by offering objective information about each property you look at. From local community information like schools and zoning to home-specific details like condition and amenities, an agent can help you find exactly what you’re looking for.
Making an offer
Once you’ve found the home of your dreams, an agent will research recent comparable sales of similar homes in the area to help determine a fair selling price. Based on those comparable sales, as well as other factors like inspections and repairs, an agent will then help you structure an offer and negotiate to get the very best deal possible.
Closing, or settlement, can be a complicated process. In some areas, the escrow or title company handles the closing process, while in other areas an attorney handles it. Regardless of where you’re buying, a real estate agent can help ensure that everything goes smoothly.
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Julia Almstead Team | Keller Williams Realty Atlantic Partners | 904.460.8664.
100 Southpark Blvd Ste. 201, St. Augustine, FL 32086