© 2017 by The Swan Team

How to Prepare to Buy a House

March 13, 2018

If you plan to buy a house in 2018, watch this first!

What are your goals for 2018?  Do they involve buying a home?  If they do, then we want you to be successful!  That’s why we are sharing how to prepare to buy a house.  Keep reading to get The Swan Team’s checklist for getting your offer accepted…in a seller’s market!

 

How to Prepare to Buy a House

Getting your Offer Accepted…in a Seller’s Market!

 

If you plan to buy a home in 2018, then read this first.  It's important to understand that the process of buying a house starts long before you find your dream home.  Your home is your most important investment.  It matters who you work with and how you prepare to buy a house.

 

Checklist for Buying your Home

 

If you are planning on buying a home in the next three to six months, now is the time to prepare to buy a house.  If you are planning on buying your dream home sooner, then know that we are in the midst of a seller’s market.  The sooner that you can find a realtor you can trust the better.

 

It’s our job to make sure you understand every aspect of the real estate transaction.  It may be a seller’s market in Orange County right now, but buyers that are prepared to put together a strong offer package take their dream home off the market.  Preparing to buy a house is the difference between putting a home under contract and not having your offer accepted. 

 

How to Prepare to Buy a House

 

  • Check your Credit Score.

    • You can obtain a free credit report from AnnualCreditReport.com to see where your credit score stands.

    • The higher your score, the lower your interest rate.

    • If you have any mistakes or surprises on your credit score, contact the credit bureau to correct any mistakes ASAP.
       

  • Figure out how much you can afford and how much you want to spend.

    • Decide how much money you can and/or are willing to put down on the purchase.

      • Identify documents that verify these funds – i.e. savings or bank account statements

      • Don’t make major changes to these accounts

    • Contact or interview 2-3 mortgage lenders to find out how much you can borrow for a mortgage and at what rate. 

      • Decide which lender you are most comfortable working with

    • Determine if that amount is feasible considering your lifestyle.

      • Sometimes a lender will say you are qualified for much more than you are willing to pay each month

      • (That is okay – just make sure you determine what suits your needs best)

 

  • Secure a mortgage pre-approval from your lender.
     

  • Avoid making major changes that could affect your potential to secure a loan.

    • Do not switch jobs.

    • Do not buy a new car.

    • Do not apply for a new credit card.

    • Do not make large purchases.
       

  • Make a home wish list.

    • Divide the list into 3 categories:

      • Non-negotiable elements – number of bedrooms, specific school district or city

      • Nice-to-have items – bonus room, home office, etc.

      • Dream features – fruit trees, private swimming pool, etc.
         

  • Find a Realtor that you can trust.

    • Interviewing at least 2 real estate agents will ensure you work with the agent you trust and are most comfortable with.

    • Once you have found a Realtor you trust, TRUST your Realtor.

      • Listen to his/her recommendations

      • Ask questions – it’s a Realtor’s job to make sure you understand every aspect of the transaction
         

  • Browse listings online.

    • There are many real estate websites.

    • Realtor.com has the most accurate information.  Other sites can have a delay. 
       

  • Location, Location, Location.

    • After seeing homes online, and perhaps some in person, continue scouting different neighborhoods.  

    • Determine which one(s) you could truly see yourself coming home to every day.  Share this important info with your Realtor.
       

  • Make an Offer.

    • When you find a property that you would like to purchase, trust and rely on your Realtor to put together the strongest offer package for you.  This will include:

      • Pre-approval letter

      • Proof of funds

      • Purchase agreement

      • Personalized letter to the seller

        • Include a photo of your family

        • Share pertinent information about your family

          • Where you currently live

          • Family members names

          • Kids’ ages

        • Include what you like about their home

 

Love Where You Live, Give Where You Love

 

We understand that your home is your dream come true.  Your home houses your family’s lifestyle and net worth.

 

You deserve to love where you live, give where you love, AND when the time comes….getting your offer accepted…in a seller’s market! 

If you need help preparing to buy or sell in 2018 – for a free home valuation or buyer consultation – Contact Us Now!

 

The Swan Team | OC Real Estate

Love Where You Live | Give Where You Love

 

“We donate $500 to the school of your choice for every property you buy or sell!”

 

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