If you are paying cash
Have a letter from your bank verifying your access to the amount you need to purchase a home. Cash is king right now, if you have it to purchase a home you are in a great position for smooth transactions and great deals from motivated sellers. Lenders look favorably at Cash offers for short sales and foreclosures.
Need a Mortgage? Financing? Talk to a Lender before starting to search for a home
Sellers these days want to know that you are pre-approved for a mortgage if you are not paying cash. In the higher end homes some sellerswant to see the pre-approval letter before you view their home.
For your own sake you should be pre-approved before actually looking at homes. More times than not, buyers can afford more or less than they think. Don’t forget if you buy before Dec 1st 2009 you can qualify for the $8000 cash incentive from our government. Many real estate agentslike the agents on my team, ask if you are pre-approved at the beginning of our communication. This is looking out for your best interest. If you start looking at homes too high, you may fall in love with the perfect home and then find out you cannot afford to own it. And now is the time to buy all you can as real estate is at the best affordability index right now.
Most lenders will pre-approve you for free. This will help you with figuring out payments and how much home you can afford and feel comfortable with. If you would like great recommendations let us know and we can provide our trusted lenders information to you.
Start your home Search
Once you know your price range, it is time to start looking. Give a great real estate agent like our teama call or email and we will get started. The Web is a great place to start searching for homes. There are in many cases interior and exterior pictures, virtual tours, area information. If you give us some basic information like areas, price range, number of rooms, # bedrooms, # baths, school districts etc. we can email you properties available instantly. Our website www.homesbyjulieanne.com also has anMLS feature that you can put in and change your own criteria and set up a search.
Set up showings
Once you narrow down your search it is time to start viewing homes on the market. You can start looking at neighborhoods and areas by driving by before setting up interior viewings. Many of our clients prefer to “check out the neighborhoods” before setting up any interior showings. We have actually started posting neighborhood photos of Barrington, Deer Park, Lake Zurich, Palatine and Schaumburg subdivisions to help out the out of area/state buyers on our website www.homesbyjulieanne.com. You can check out the Internet for much of the area information.
View Homes with a Real Estate Agent
Choose a great real estate agent familiar with the area you are looking in. It is much easier these days for agents to have vast knowledge in many areas then years in the past. Our team covers a large area with 5 licensed real estate agents from different areas. If we are not familiar and knowledgeable, we refer you to an agent that is.
Your agent sets up the showings for each home. We cannot just stop by and look, an appointment needs to be set with specific showing instructions for each home.
Narrow down the homes for sale you are looking at, eliminating as you go. Try and pick a 1st, 2nd and 3rd choice. If you are working with an experienced agent, they can help you with this as you may get off track on what you are looking for. Real Estate Agents do this on a daily basis and can look past decorating, landscaping and clutter. If you need to go out again, that would be your next step.
Make an Offer – will be covered in one of my future posts in the next week
Posted By: Julie Anne – The Julie Anne Real Estate Team at Keller Williams Success Realty
CDPE Certified for Short Sales and REO