Part 3 Home Buying (Go!)

You’ve got your pre-approval letter or proof of funds letter.

You have your down payment (if you’re getting a loan) and your money for inspections.

Now you’re ready to take off.

If you’re going to use the services of a Realtor, then do your research. You need someone who has the experience and knowledge to guide you through the process. Find a good one. The bad ones aren’t worth the money, and the good ones are amazing resources throughout the whole transaction and even after you’ve closed.

Hire them, and then have conversations about what you want, what you need, and what are the deal breakers. Do you have a firm budget? Are you ok with looking at homes that are a little more in hopes of negotiating it down? Do you absolutely not want to even look at them if they are a dollar above your price range? Is high speed internet a must?Tell them. All the information you can give them will help them narrow down what will work for you.

Now it’s time to go look at properties. The biggest advice I would give is to look past the things that are easily changed because oftentimes that means you can find the perfect (or soon to be perfect) property for you. Sometimes a feature of a house is distasteful to enough people that they move on which may mean a better negotiating position for you. 

As you see homes, you should get a feel for what you really want and you may find your deal breakers change or morph into new deal breakers. 

Check out the neighborhood, and drive to work or to school so you can really get a feel for commute times. Visit the area at different times of day to get a real feel for what traffic looks like.

My personal pet peeves are bad driveways. You never think about it at first and then you’re stuck doing 32 point turns every day to leave

Read the seller’s disclosure. And take it with a grain of salt. Seller’s may not know of issues revealed in the home inspection. It is up to you to do the research and the inspections to find out potential problems and issues. North Carolian is a “buyer beware” state which places the burden on you and your agent to discover everything you can about the property. 

Negotiations can be stressful. Lean on your (good/professional/capable) agent to help you and keep emotion out of it. Don’t assume bad intentions but also do your due diligence to make sure you are comfortable and capable of moving forward. 

And if you’re getting a loan,

DON’T BUY ANYTHING ON CREDIT. Don’t open a lowes credit card, buy a new car or quit your job two days before closing. Yes, we’ve seen it and yes the bank will be following up. Anything that will impact your credit score or your loan approval can derail your purchase. 

The process is stressful, no one enjoys it, but you can get through it and get to your end goal of home ownership.

On closing day, once the papers are signed and the deed is recorded, breathe a sigh of relief. You did it! 

It’s time to celebrate and move into the next part of your journey.

If you have any questions,or need any recommendations we are always here to help.