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Steps To Take When Buying Your Home

10 HOME BUYING PROCESS JT Steps to take when buying your Home #1 #2 Pre-Approved Have a Down Payment Saved Get Pre-Approved One of the step to buying a home is to save the down payment. Lenders require a 20% down payment. Buyers have to open a savings account in advance and start saving money. Before buying a home, he or she needs to know what they can afford. You need to know how much loan he or she can afford. Best option is to get prequalified. In this process, home buyer is asked questions about finances and debts. #3 # 4 Location Location Location Decide on a location Decide on type of home to buy Once a person knows how much he or she can afford, then it's the time to choose the location. A person may have a general idea of where he wants to buy a home. People with families may choose living in urban areas. A person should determine in which type of home one should live in. It means a single-family, detached homes, town houses, condos etc. Keep in mind the lifestyle in which you live, current and future needs. #5 #6 田田 Choose a Realtor Visit available properties The Realtor is important to choose as he understands the market and helps home buyers select the home according to needs they want. This will save home buyers time. Choose a realtor who has a good reputation in market. Once the home buyer has decided the type of home which he wants to buy, then now it's time to visit properties which are available. Just have a look at homes available and don's take any decision in pressure. #7 #8 Mortgage МАKE AN OFFER! Making the offer Secure the Mortgage Once the home buyer has finalized his home, then it's time to make a offer. A price that is agreeable to the buyer will be drafted, and the terms between the seller and the buyer to make the successful transaction. Once offer has be accepted, then the buyer will need to secure the mortgage. If the person is not pre-qualified then requires a longer time for process completion. #9 #10 INSPECTION HOMEOWNERS INSURANCE Inspections Obtain Insurance Appoint a home inspector to look over the property. He will look at the roofs, plumbing, electrical systems, walls and visible insulation. It is generally carried when you are buying a home which is resold. Buyer will need to buy home owner insurance for the property. This will help in case of fire, thefts etc. Also need to verify whether all the documents have been signed. Conclusion These are a few steps that should be followed while buying a home. If you follow these steps, the entire process will be easy for you. Prior to the closing date, buyer needs to verify the payment type acceptable. On the closing date, the closing cost and a fee will be paid. Source: %24

Steps To Take When Buying Your Home

shared by CharlesRoyster on Jun 11
This infographics gives us information about the process or steps to be followed when buying your home. This steps ensures that the person is prepared to own his or her home. This is the guide for hom...




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