If you are thinking about buying a new home, your course of action definitely determines your results. While it may seem logical to start the process by going to view homes that are for sale, either at open houses or by private appointment with a REALTOR®, you could be setting yourself up for disappointment. Let’s review the proper order to ensure that your home buying process lands you in your dream home:

1. Shop lenders. Contact at least 3 lenders to get their current loan rates and loan costs.

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1. If you do not have a source to find reliable lenders for comparison, finding a REALTOR® would be step one for you. REALTORS® typically have a list of lenders that they have worked with and trust and are happy to share this information with you. Find an agent that specializes in the area that you are searching. The REALTOR® is compensated by the seller, so you receive their expertise and negotiation skills at no cost to you.
2. Get pre-approval from the lender that you decide to worth with on your transaction. This is critical for two reasons: 1. It lets you know what price range you can afford and 2. Most sellers require that a pre-approval letter be submitted with any offer. Therefore, if you find a house that you are in love with and decide to make an offer, but you have skipped this step, you more than likely just lost any hope of that seller entertaining your offer. Once you have pre-approval, if you have not chosen a REALTOR®, now is the time to do so.
3. Decide what area/neighborhoods you like by researching online and by touring neighborhoods. Sometimes a neighborhood can look great online, but there may be factors that are not apparent until you visit in person.
4. Start viewing homes for sale by going to open houses or scheduling private viewings with your agent. Keep notes on the homes you visit and what you liked/disliked about each one. Once you find a house that you love, it’s time to make an offer!
5. Work with your agent to make an offer. Let your REALTOR® help you negotiate your offer based on comparable homes in the neighborhood.
6. Once your offer is accepted, get the home inspected. Always get the home inspected by a licensed inspector. Your REALTOR® will assist you in negotiating any repairs with the seller.
7. Complete all paperwork with your lender for loan approval. Get the appraisal done and be sure the lender has everything they need for final loan approval.
8. Final walk-through and closing. Before closing, conduct a final walk-through of the house to make sure it is in move-in ready condition. Attend closing, where you will sign your loan documents, your lender will fund the loan, and you will receive your keys to your #dreamhome!

Be sure not to put the cart before the horse in the home buying process. You need to be prepared and know what you qualify for before you start shopping. If you do not determine your price range first, you are setting yourself up for disappointment if you find your dream home, only to find that you cannot afford it!

Please contact me to help you in your search!

Kathy@ReidRealEstateTeam.com

832-528-2324

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#cypressrealestate

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#buying a home