Buying a home is generally a lengthy process but certain circumstances may arise beyond your control that cause you to need to move quickly. This is especially true if you need to move for a new job, and you don’t want to be holed up in a rental unit or motel while you find a suitable place to stay.
These steps should help to speed up the process, and help you find your ideal home in no time at all.
Step 1. Get A Mortgage Pre-Approval
Before you start looking at homes you need to know what you can afford, and narrow it down from there. A mortgage pre-approval will allow you to create a strategy around homes you can afford but it also shows sellers that you’re serious. Always include your mortgage pre-approval in the offer letter so sellers know you’re serious and will respond quickly.
Before you go to your mortgage loan officer be sure you have the necessary paperwork ready. This includes your bank statements, tax returns and information about your debt.
Step 2. Make A List Of Must Haves
Creating a list of your must haves is the next step. You don’t want to waste time looking at homes that won’t meet your needs. Don’t just think about amenities in the home, think about the surrounds as well. Is it important that the home is in a good school district, do you want to be close to work? How many bedrooms, bathrooms and storage will you need? These things need to be included in your list so when you start searching you’ll know what to look for.
Step 3. Find An Experienced Real Estate Agent
An experienced agent likely has an extensive network and many connections. They might know about properties that haven’t been listed yet. They could even help you find eager sellers. But most importantly they’ll have invaluable knowledge on the neighborhood and it’s surrounds. A good real estate agent will probably be able to help you assemble a great team of real estate professionals such as a mortgage banker and real estate attorney.
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Step 4. Search Areas With More Inventory
Don’t waste time looking at communities that don’t have much inventory. The real estate market will be a lot more competitive. Instead focus on areas that meet your needs as far as easy access to your work, schools in the area and so forth. Also, make sure that they have plenty of inventory available. If you can’t find what you’re looking for try searching in surrounding neighborhoods as well.
Step 5. Be Available
If you want to close quickly, you must be available to act as soon as an offer is accepted. It’s essential that you are available anytime to get in touch with your agent, respond to counter-offers and answer questions. Provide your agent with multiple ways to reach you — by phone, email or text so you can be in contact if anything should arise.
You new home is out there! Just stick with it and you’ll make you dream home come true!