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Avoid Buyer Mistakes.
Home buying can be a very exciting experience, but if you are not well informed about the home buying process, it can also be very frustrating.
Review the most common mistakes listed below, it will help you have a very enjoyable experience when purchasing your new home.
1. OBTAIN PRE-PURCHASE COUNSELING WITH A EXPERIENCE REALTOR OR BROKER.
counselors provide information about down payment assistance and lower-interest loans, some of which are available only to buyers who have undergone counseling.
2. CREDIT RATING
Did you know you have a credit rating? Today we call it FICO Score!
Many people are not aware that their credit report not only shows a missed payment, but it also carries a rating that lenders will use to determine your interest, or if you even qualify to get a mortgage loan.
You can order your personal credit report by contacting the three major reporting agencies: Equifax at 800-685-1111; Tran union at 800-888-4213; Experian at 888-397-3742.
3. PRE-APPROVAL
Get pre-approved for a mortgage. have documentation needed to get a mortgage commitment.
4. HOW MUCH PAYMENT ARE YOU COMFORTABLE MAKING?
Homebuyers have many financing options available to them, including buying a home with little money down for first time buyers.
5. YOU NEED MORE THAN A REAL ESTATE AGENT
A competent real estate agent can provide a valuable service, recommend and help you get the advice of other professionals, such as home Inspectors, termite inspectors, escrow, title insurance, home warranty protection, and other sources not connected to the seller.
6. Get Home warranty protection Insurance this is good for one year from the day you close escrow on the purchase of your property.
And you can renew year to year as long as you desire.
7. MAKING LOW-BALL OFFERS
Some Buyers sometimes walk around making derogatory comments, hoping it will lead to the seller's accepting a lower offer. Put yourself in their place.
Make a reasonable offer. If the sellers like you, chances are that they will work with you.
8. THE HOME INSPECTION
Hire a professional home inspector to point out major defects.
■ Look for settlement cracks on the wall, floor, or ceiling. Every home, at one time or another, will get a settlement crack, so if you find a few, there's no need to panic.
■However, if you notice major cracks, this could be a sign of structural problems.
■Mark down the location of where you find cracks and make sure they are pointed out to the inspector to determine the degree of damage.
■If they are small cracks, they can easily be filled with plaster and repainted.
■Look for any leaks. If you notice any water damage marks on the walls, floors, or ceilings, this could simply be from a bathtub or toilet that might have overflowed, or, it could be serious and be due to a leaky roof or poor plumbing. Also, check the tile in the bathrooms and kitchen for any indication of behind the wall leaks, such as mildew or loose tiles.
■Open and close all the doors and windows. Listen for squeaks or sticking. In most cases, this is simply a matter of spraying some lubricant such as WD-40, but it could also be another indicator of settlement.
■If there is an outside deck, check for rotted wood, which could be a sign of termites or it might just be old wood needing to be replaced.
■Check all of the electrical outlets. You can simply take a working nightlight with you to plug in. This will tell you if any of the outlets are not working properly.
■Check the garage doors, if applicable. Make sure they run smoothly on the track and that the openers are in good working order.
■Look for pests such as termites or ants. The best place to look is around the foundation, wiring, pipes, and doors or windows.
■Look at the grading of the yard, both front and back, to ensure that run-off water flows away from the house.
■Look at the gutters to ensure they are properly installed and that water flows out adequately.
■Check the driveway to look for crumbling concrete, pockmarks, or holes that would need to be fixed.
■Have the roof looked at by a professional.
■Make sure the turbans are installed correctly to eliminate any leakage and that no portions of the roof need to be fixed or replaced.
■Carefully check out the heating and cooling systems. These can be high dollar expenses so it's important that they are running properly.
■Often, these items are covered under a warranty so if there is a problem, see if you have warrant coverage.
■Caulking and weather stripping are important as well.
■Improper coverage will cause air leaks into the home, raising utility bills and causing unwanted drafts.
The good thing is that everything can be fixed. The bad part is that some items are costly, which is why it's so important to ensure you keep operating systems of the home in good working order.
let us show you how your home buying experience could be a smooth one!
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