Keys to Home Buying Success!

2. PREPARE, PREPARE, PREPARE! Even if you make the decision to buy a home in a day, the preparation will absolutely take more time. It isn't just a matter of researching Realtors or the marketplace, but includes many more things that need to be considered. How does your credit look---have you checked? If you need money for a downpayment, have you saved enough?

3. PREQUALIFY, PREQUALIFY, PREQUALIFY... This is the most important of alll. Loan pre-qualifying helps you determine the home price you can afford and presents you as a genuine prospect to the seller. Getting pre-qualified will allow you totake advantage of opportunities as well as  save both time and money!.In fact,it is advisable to get this done before you even look at homes.You'll find out exactly how much you can afford and how well that fits with the amount you would like to spend each month on your payment. Prequalifying first will help make sure that you don't run into any surprises after you've put your heart and time into buying a home and will make buying a home a smoother, more enjoyable event

4. BECOME AN INFORMED BUYER Visit web sites, read the Real Estate section of the newspaper, thumb through brochures, etc. and make it your duty to understand basic Real Estate and Mortgage terms. When your Realtor explains the terms of contracts that legally bind you, you need to have some understanding of this process. Any contract you sign should be done with your full confidence and COMPLETE understanding. Treat your investment with the respect it deserves  and become an active part of  the transaction.

5. UNDERSTAND YOUR NEEDS AND WANTS Create a list of things you value in a home and list those items in order of importance. Somewhere on this list draw a line that separates it into halves: The top half will be your 'needs' and the bottom half will be your 'wants'. Don't comprimise on your 'needs' and put your best effort into obtaining your 'wants'.

6.LOCATION, LOCATION, LOCATION! Theclassic rule of buying the worst house in the
best neighborhood still applies.If you buy with an eye towards improvement, you can customize
the home to fit your needs. Stay focused  on the long-term importance of theneighborhood, schools, shopping, community, etc.

7. BUY A HOME YOU CAN AFFORD  The home buying process can be highly emotional and affect your decision making.  Don't do anything impulsively and give serious consideration to how your lifestyle may change with the purchase of this home. 

8. THE WRITTEN WORD IS LAW Don't make verbal agreements. Any agreement, offer, or counter-offer only exists if it is in writing. 'Understandings' have a way of becoming "misunderstandings". Remember, this is a legal transaction.

9. USE A COMPETENT HOME INSPECTION COMPANY A homewarranty is a service contract, normally for one year, which protects homeowners against the cost of unexpected repairs or replacement on their major systems and appliances that break down due to normal wear and tear.  There is very little legal recourse when a home inspection company fails to disclose all of a property's problems and potential problems. Make sure YOUR Realtor  chooses a reputable company that is acting in your best interest.

10. THE NEGOTIATION PROCESS... Clarify everyone's role in the negotiation process. Not everyone is on your side and you don't want to innocently disclose information to the wrong party (Such as disclosing buying needs, financial abilities, or negotiating stategies with the seller's agent.) As well, be certain that you understand your rights and obligations when you do make an offer to purchase a home. You don't want to back out of an offer and find out you can't get your deposit back, for instance. Your Realtor should be happy to explain these rights and obligations to you---
it's in everyone's best interest that informed decisions be made.

11. NEVER USE A DUAL AGENT A dual agent is an agent that represents both the seller 
AND the buyer. How loudly can you scream,"Conflict of interest!!!"? Your Realtor is your 
best negotiator, not a friendly 'mediator'.

:12. HOME PROTECTION PLANS:  Peace of Mind!: A home warranty is a service contract, normally for one year, which protects homeowners against the cost of unexpected repairs or replacement on their major systems and appliances that break down due to normal wear and tear.  The warranty covers mechanical breakdowns, while insurance typically repairs the related damage, for example: if a hot water heater burst and destroyed a wall in your home, the warranty would repair the water heater and your insurance would pay to fix the wall

13. PREQUALIFY, PREQUALIFY, PREQUALIFY... This is the most important of alll. Loan pre-qualifying helps you determine the home price you can afford and presents you as a genuine prospect to the seller. Getting pre-qualified will allow you totake advantage of opportunities as well as  save both time and money!.In fact,it is advisable to get this done before you even look at homes.You'll find out exactly how much you can afford and how well that fits with the amount you would like to spend each month on your payment. Prequalifying first will help make sure that you don't run into any surprises after you've put your heart and time into buying a home and will make buying a home a smoother, more enjoyable event

Trust your realtor to guide you through this process!