Buying a new home happens in steps and by learning about the first three steps, you can get started without feeling confusion and stress that you may feel if you were lost on what to do first. Here are the three first steps to get you well on your way to owning the home you fall in love with:
Step one: Get pre-approval from a lender
As soon as you know you are going to be buying a home, you want to go sit down with a lender. Bring all of the paperwork you will need and be prepared for them to run your credit. You should have been taking steps to improve your credit score before this point, so you know you will have an easier time qualifying for certain loans. Some examples of things to bring with you include:
- Two years of tax returns
- Three months of bank statements
- Information for your last two years of employment
- Names and addresses of employers
- Driver's license
The reason for getting preapproval is to know the amount you will be approved for so you can shop for houses offered at the right price. Also, when you are pre-approved, it makes you look like a much more serious buyer than someone who just comes in from off the street wanting to see houses without having taken any steps to prepare themselves for the actual buying process.
Step two: Get yourself a real estate agent
Once you have your pre-approval letter, you want to take it with you to meet with the real estate agent you have decided to go with. Along with this letter, you should also provide the agent with a list of criteria that a house must-have. Let them know where you can bend, and what you will not bend on. It can also be helpful to tell them a bit about your family, lifestyle, hobbies and anything else they can use to help them spot a house they feel will be perfect for your family.
Step three: Go house hunting
Your real estate agent will call you with houses they feel match your criteria. Be available as much as possible to see those houses before other families have a chance to snatch them up. Also, don't be afraid to look on your own. However, when you have an agent, you need to pass the info on houses you find on to them and let them make contact with the selling agent.
Contact a company like RE/MAX ALL POINTS REALTY for more information and assistance.