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Home Buyer’s Checklist

February 2013 monthly theme is the Home Buyer’s Checklist, things you need to do before buying a home.

In this final video of our February topic the Home Buyer’s Checklist, we will continue our discussion on what to do after the home seller accepts your offer. Below is the full Home Buyer’s Checklist. If you want me to talk about a certain topic in the future please email us.

Home Buyer Checklist

  • Get a copy of your credit report and correct any errors
  • Reduce your consumer debt – pay down credit card balances.
    • Pay off the debt with the highest interest rate first.
  • Determine how much you can afford to pay for a home. Decide how much you are willing to spend for a home.
  • Can you afford the down payment (FHA 3.5%, conventional 5-20%)? Don’t forget closing costs, moving costs, and having a small cash reserve for emergencies.
  • Get familiar with basic mortgage terms
  • Shop around local and national banks for best rates and programs.
  • Get pre-qualified for a mortgage loan
  • Research neighborhoods that you want to a house (drive & online)
    • Location, schools, crime, etc.
  • Interview real estate agents who specialize in the neighborhoods where you want to buy a house
  • Get pre-approved for a mortgage loan
  • Visit homes and make notes/pictures
  • Once you find a house you like, have your real estate agent determine the price you should offer. Look at comparable houses the sold in the last 6 months.
    • Compare square footage, lot size, bedrooms, baths, garage, basement, condition of the home, etc.
    • If your house is dated you should offer less than a newer renovated home.
  • Have real estate agent write the offer
  • Complete all mortgage loan application requirements
  • Hire a home inspector to examine the house & be there for the inspection. You will learn a lot about the house.
  • Get agreement on repairs to be made by the Seller
  • Inspect repairs and handle other details prior to closing day (settlement).
  • Hand over a certified check for the down payment and pick up the deed for your home.

You Put an Offer on a House and the Sellers Accepted! Now What?!? Below we will continue our discussion regarding things that the home buyer will need to do before settlement.

  • Home Inspection
  • Negotiate repairs to be made by seller (if any).  This can be lower price, money from seller to you at closing, or the home seller makes the repairs.
  • Final walk thru to make sure the house is the way it should be
  • Closing at title company

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contact us for a Free Special report on How to Sell Your House on The Date of Your Choice Without Making a Repair!


February 26, 2013 - Posted by | Uncategorized | , ,

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