Realty Complete Buying a Home |
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When Should
You Start? Assuming your finances are in order (your debts are not too
high, you’re not delinquent on anything and you’ve made payments on time)
then you probably should start about three months before you are ready to
move. Although it is possible to go
through the process faster, it normally takes about two months to settle on a
property. There are exceptions, for
example, a new home may take 4 to 5 months to build, or some loans may
require a longer time before you can settle.
Then you want to allow yourself time to look and negotiate. If you think you may need to get your
finances in order, but don’t know how, then you might want to start the
process sooner, maybe a lot sooner if you will need financial counseling and
will need to take action to improve your current situation. Also pay attention to the financial market. If you can get a good deal on interest
rates, it may be worthwhile to move sooner and save money long-term on
payments. You should start by meeting your agent at their office. If you meet them at a house the first
time, you will be starting the process without being fully informed, and may
encounter difficulties if you don’t want to work with that agent, but want to
buy that house. You may also be
preventing yourself from getting full and proper representation in the
purchase of your new home. There are
some questions you should have answers to before you look at any houses.
You should also ask if
there is any charge for their services.
This is not necessarily a bad thing if the answer is yes. Payment normally wouldn’t be owed if you
don’t settle on a house (find that out too) and if somebody is going to
charge a couple of hundred dollars and save you five thousand, it’s
definitely worth it to work with that person. In a few circumstances it may even work to your advantage to
have a buyer pay a commission instead of the seller, as long as the equivalent
amount comes off the purchase price (although this is unusual; in most cases
it is actually in EVERYONE’S best interest to have the seller pay the whole
commission). Have the agent explain everything you are going to be doing in the process, and make sure they understand what is really going to make you happy (make sure you know first). Trying to skip by the initial meeting with your new agent may save you an hour or two the first day, but it will cost you twenty, thirty, forty hours or more when you are looking and then buying. Do you want someone to start showing you houses without knowing what you wants and needs are? continued |