10 Steps you must know before buying a Home
Admin April 17, 2017
1. The first step is to search for the home. Searching online is the best way to find the property you like, you can search via the location, type of property you want. Online property websites have lots of pictures of the houses, so that you get an idea about the estate. You can do it without estate agency.
2. Get a nice estimation on how much you are willing to spend on your home. If you are opting for a loan, you can directly contact the bank to get an amount you canrequest as a loan based on your income.
3. Get pre-qualified and approved by the bank for your property finance. This will help you to build estimation on the property you want to buy. It will become easy to search for the property and to get a loan later on.
4. Study the property you want to buy. It can be on a website, magazine, newspaper, etc. Always do thorough research about the property and the owner before contacting him.
5. Contact the owner of the property and make a bid. Always check the neighbourhood before making an offer. Make sure you check the slightof things like plumbing system, electrical system, airflow and lighting of the rooms.
6. Get the home inspected by some home inspector for any structural damage, water leakage etc. These things are to be noted and fixed by the current owner of the house.
7. As you finalize the amount with the owner, search for a mortgage banker to add you in a loan list. If the bank sanctions the loan, then you are one step closer to get your home.
8. Consult a third-party home appraiser to get your home valuated. So that both parties have a fair idea that none of them is deceived and the buyer is paying a fair price for the house.
9. There are tonnes of paperwork involved in buying a property. That should be arranged and must be verified that the seller is the fair owner of the property.
10. At the end, the paperwork should be signed by the new owner and the original owner, if the loan is sanctioned, this process takes some time. Once the check is received by the seller, you are prepared to inhabit in your new property.
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