Have a real estate professional guide you through the entire purchasing process. This person’s responsibility is to help you negotiate with buyers, as well as help you prepare your home for sale, market it locally or nationally, and guide you through the complex paperwork of escrow and closing. Talk to more than one REALTOR^® to determine his or her experience and willingness to work with you in order to find the perfect home. Do your own research as well. You can travel through your favorite areas and neighborhoods, read real estate sales publications, search the Internet, and talk to others who may know of properties that may fit your requirements.

Shop for the best mortgage rates and terms and then get prequalified for a mortgage loan. This will enable you to know how much you can afford to spend, as well as to move quickly when you find the right home. In addition, the seller will be glad to know that you are a serious buyer and can afford the property.

Provide your REALTOR^® with a list of features and amenities that you wish to be included with the home. It is equally as important to define those features that you do not want. This will save some time and give the REALTOR^® the ability to search more effectively for properties that best meet your specific desires and needs.

When viewing or visiting properties it’s always a good idea to keep notes on each property. This is a great way to list desirable features as well as any drawbacks, etc. Upon reviewing your “favorites” list you can then determine which properties may be of further interest to you.

A REALTOR^® can offer some pointers on certain features that may or may not affect the home’s future value as well as resale value. For instance, depending on the home’s location, a pool or other features may actually detract from a home’s value, making it more difficult to sell.

Once you locate the home of your dreams, it’s time to get down to the business of making an offer. It is imperative that both parties remain calm and respectful of each other since the first or even second offer may not always be accepted by the seller. There is always a possibility that the seller will make a counteroffer. Trust your REALTOR^® to take you through this negotiation process in order to reach an acceptable agreement between both parties.

Now that an offer has been accepted, it’s time to order a home inspection. Your REALTOR^® can assist you in finding a professional, trustworthy inspector. Often times there are certain repairs that need to be made such as leaky plumbing or roof, cracks in foundations, termites or other insect infestations, etc. Cost of repairs can be negotiated with the seller as part of the purchase agreement. Once the repairs have been made, you will have a chance to “walk through” the home to make sure everything has been completed on the inspector’s report.

Your REALTOR^® will help you complete the closing process before the closing date. There will be a checklist of items that will include all monetary deposits and necessary paperwork including mortgage, title, and homeowner’s insurance, as well as any paperwork required by local or state governments.

It’s time to enjoy your new home! Some basic reminders would be to make sure you have the utilities turned on before your move and to notify the local post office of your change of address. Congratulations on your purchase and welcome home!

Top 10 Questions To Ask Before Buying A Home

When you are looking for a home, it is easy to get caught up in the excitement. Don’t forget to take a breath and make sure you are making a wise decision. Read on for the top 10 questions to ask before buying a house.

1. What does the market say this home is worth? Research how much similar homes have sold for to get an idea of what the property you are looking at should actually be going for. If the seller has it listed much higher, either make a low ball offer or walk away.
2. What will my property tax liability be? When you buy a house, you have to pay annual property taxes on that home. The amount you pay is determined by the value of the home and land. Be prepared for this expense.
3. What will my monthly payment be? You need to know exactly how much you have to send to the bank each month and make sure that fits within your budget. Stretching too much to get into a home can lead to financial problems or even foreclosure.
4. Do I plan to stay here for at least two years? Generally, two years is the minimum amount of time you need to live in a home for property values to go up enough to cover your closing costs and fees associated with buying the home. Furthermore, if you don’t stay in a home for at least two years, you will have to pay capital gains taxes on any profit made from the sale; if you live in the house for two years, much of those gains may be exempt from such taxation.
5. Has this home been inspected? A home inspection is designed to ensure that there are no problems with the home that are costly or difficult to fix. Banks and mortgage lenders usually require an inspection before financing a house.
6. When was this home built? Older homes may have more costly problems (although they can be beautiful). Likewise, homes built in the 1970’s may have more risk of lead paint problems than newer homes. You need to know when a home was built so you can know what to expect.
7. Are there are problems with the home I should know about? In some states, homeowners are required to disclose - but only if you ask. In particular, you should consider requesting information about a history of termites or other infestations, and about the presence of dangerous substances such as lead paint or asbestos.
8. What is the neighborhood like? Property values are largely determined by where the home is located - compare, for example, the cost of a small home overlooking the Pacific Ocean in Los Angeles versus the cost of a home in downtown Detroit. Even within cities, the location makes a huge difference. Find out whether the neighborhood is viewed as dangerous (bad for the prospect of a future sale), established (property values aren’t likely to change too much but will probably rise a reasonable amount each year) or up-and-coming (property values could skyrocket, but only if the transformation takes place and the neighborhood becomes a coveted place to live).
9. What is the school district like? Even if you don’t have kids, your next buyers might. This makes this a huge factor when buying a home, since most people look for a good school district when making a purchase.
10. What is going on in the housing market in my area? You will need to know whether it is a buyer's market - so you can make low ball offers - or a seller's market, so you can decide whether to wait or take on the higher cost you may have to pay to buy a house.