Lisa M. Corr's Blog
When you move into a home that you worked so hard to buy, it’s an exciting and overwhelming time. The biggest problem with a new place is that you don’t know your surroundings very well. Even if you have just moved down the street, there’s a lot of new things to be discovered from new neighbors to new places to explore.
One thing that many new homeowners overlook is the way in which their new home functions. Do you know where the circuit breakers are? What about that switch in the corner of the living room that doesn’t seem to do anything? While the seller's disclosure and your home inspector will give you a wealth of information, you can gain a lot of knowledge just by asking questions.
Sellers may not be eager to answer too many questions at first for fear that their answers could jeopardize the sale of their home. You can safely ask a lot of questions at the final walk-through or at closing since the seller will know that they’re secure in the transaction.
What’s Strange About This House?
While you wouldn’t word a question to a seller in this exact way, you do want to know if there’s anything unique or anything that you should anticipate about the home. Remember that you should be subtle, yet curious in your question asking.
What Type Of Repairs Have Been Made?
While you expect that most repairs will be on the disclosure statement, anything that has been done in the past is noteworthy as well. It’s helpful to know what’s been done in the house in the past so you have an idea of what to keep an eye out for.
Where Are The Important Utility Boxes In The Home?
Not all home inspectors are created equal. Your inspector may not be great at educating you as to where things are in the home like the circuit box, the water switches, the pump, or the controls for the furnace. The seller can often show you the location of these items in the house. This will prevent you from a lot of confusion starting at the time you move into the home.
Have You Enjoyed Living In This Neighborhood?
You can discover a lot about a neighborhood if you just start a conversation about the seller’s own experiences. You can learn a lot through this simple question. Are there any crazy dogs in the neighborhood? Where are the best places to eat in the area? While you may not ask these questions directly, you can gain some powerful information just by being curious and conversational.
Gaining a good rapport with your seller can get you places. You’ll know a bit more about the home and the seller will even feel more friendly towards you. The seller could even leave some cool stuff behind that they don’t need like a microwave, a piece of furniture, or a patio set. All you need to do is be friendly and curious and you’ll be off to a great start in your new home.
Let's face it – homebuyers often face intense pressure. In many instances, dozens of homebuyers may compete for the same residence. And if you don't act quickly, you risk missing out on your dream house to a rival homebuyer.
Believe it or not, it sometimes can be beneficial to take a wait and see approach to buying a house. Some of the key reasons for homebuyers to consider deploying a wait and see approach include:
1. You can determine exactly what you want in your dream house.
Differentiating between must-haves and wants can be tough, particularly for homebuyers who are shopping for residences for the first time. Fortunately, if you take a slow, gradual approach to homebuying, you can view a variety of residences and narrow your search accordingly.
Oftentimes, homebuyers can benefit from attending open houses and getting a firsthand look at myriad residences. Each open house provides an opportunity to analyze a home, review its pros and cons and determine whether a residence is right for you. As such, homebuyers can attend many open houses to better understand what they want from a dream residence.
2. You can get your finances in order.
Although you know you want to buy a house, getting your finances in order may prove to be hassle. Luckily, homebuyers who implement a wait and see approach can find a mortgage that matches their finances perfectly.
Ideally, a homebuyer should meet with several banks and credit unions and explore all of the mortgage options at his or her disposal. During each meeting with a mortgage lender, a homebuyer can receive expert insights into many mortgage options.
A homebuyer may want to get pre-approved for a mortgage as well. If a homebuyer embarks on a search for the right mortgage today, this individual can move closer to entering the housing market with a budget in hand and simplifying his or her home search.
3. You can find the perfect real estate agent.
Ultimately, the real estate agent that you select may dictate the success of your quest to find your dream residence. If you allocate the necessary time and resources to hire a hardworking and experienced real estate agent, you should have no trouble streamlining your home search. On the other hand, if you rush to hire the first real estate agent that you meet, you risk making the wrong choice.
When it comes to finding the perfect real estate agent, it pays to be patient. By spending some time learning about various real estate agents in your area, you can select a top-notch housing market professional to guide you along the homebuying journey.
Lastly, don't forget to select a real estate agent who is available to respond to any homebuying concerns and questions, at any time. With this housing market professional at your side, you can boost your chances of discovering your ideal residence.
There is no need to rush to find your dream home. Instead, take a wait and see approach to buying a house, and you may reap the benefits of your decision for years to come.
If you’re ready to buy a home, you probably have done a lot of research. One thing is sure: You know you need to get pre-approved for a mortgage. It’s perhaps the most critical step in the process of buying a home for a variety of reasons. There’s down payments and debt-to-income ratios, and other financial issues to worry about. You need to know what type of mortgage you should get. To help you understand what kind of mortgage you need, you should get pre-approved.
Understand The Pre-Approval Process
There are many misconceptions about pre-approvals. First, buyers need to understand that there is a difference between a pre-qualification and a pre-approval. A pre-qualification merely scrapes the surface of your financial state, while a pre-approval goes through everything a mortgage company will need to grant you a loan. You may be pre-qualified for a much higher amount than you can actually afford, for example.
A pre-approval is a lender’s written commitment to a borrower. The approval states that the lender is willing to lend a certain amount of money for a home. The lender obtains the following from the buyer:
- Employment history
- Credit report
- Tax returns
- Bank statements
The time and effort that it takes to get a pre-approval is worth it because everything will be ready for the lender to grant the mortgage once an offer is made on a home. It also gives the buyer an upper hand in finding the home of their dreams. Many sellers require a pre-approval with an offer.
When To Get A Pre Approval
As soon as you know you’re serious about buying a home and are ready to start the house hunt, you should get pre-approved. Pre-approvals do expire after a certain amount of time, but lenders can renew them with proper notice.
The Importance Of The Pre-Approval
Many buyers feel that they can skip the pre-approval process altogether. It has many benefits. Besides giving you a better look at your finances and how much house you can afford, pre-approvals can:
- Give you the insight to correct your credit score and help you correct credit problems
- Help to avoid disappointment when you find a home you love
- Allow first-time buyers to see all of the costs involved in buying a home
A pre-approval is a handy thing to have, and it’s not just because the experts say it’s essential. Getting pre-approved for a mortgage can help you to be more on top of your finances going into one of the most significant purchases you'll ever make in your life.
Deciding whether to set up a home showing sometimes can be a tough decision. Yet a home showing can make a world of difference for a buyer as he or she searches for the ideal residence.
Ultimately, there are many reasons to schedule a home showing, and these include:
1. You can look beyond a home listing.
A home listing generally offers details about a house's age and features, as well as photographs of different areas of a residence. But a home listing can only provide so much information. Fortunately, a home showing enables you to assess a house in person and decide whether a residence is right for you.
During a house showing, you can walk around a residence and view each room. If you want to further pursue a residence after a showing, you can submit an offer to purchase. Or, if you find a house fails to match your expectations, you can always continue your search for your dream home.
2. You can gain comprehensive insights into a house's condition.
When it comes to evaluating a house's condition, it typically is a good idea to attend a showing. That way, you can get an up-close look at a home's condition and determine whether a residence needs major or minor repairs.
A home showing enables you to analyze a residence both inside and out. After a showing is complete, you can decide whether you are satisfied with the condition of a home and map out your homebuying journey accordingly.
3. You can imagine what it would be like if you purchase a home.
A home showing makes it easy to envision what life may be like if you purchase a particular house. As such, a showing may prove to be crucial as you pursue your dream residence.
If you feel good about a house following a showing, you should not hesitate to submit a competitive homebuying proposal. Conversely, if you feel uncomfortable with a residence, you may want to pursue other options.
Of course, hiring a real estate agent may be exceedingly valuable as you search for your ideal house. A real estate agent can schedule home showings at your convenience and provide plenty of tips to help you pursue residences in any housing market. By doing so, a real estate agent will empower you with the insights you need to make an informed decision about a house.
Let's not forget about the assistance that a real estate agent will provide after you find your dream house, either. At this point, a real estate agent will help you put together a competitive offer to acquire your ideal residence. And if you have any concerns or questions as you move along the homebuying journey, a real estate agent is happy to respond to them.
Ready to find your dream residence? Schedule a home showing, and you take the next step to acquire your ideal house.
A home showing may prove to be exceedingly valuable, regardless of whether you're actively searching for a residence or preparing to enter the real estate market. In fact, there are many reasons to schedule a home showing, and these include:
1. You think a home may be right for you.
If you review a home listing and feel a house may be your dream residence, it never hurts to set up a home showing. By visiting a residence, you can get an up-close look at a house and determine whether this home is right for you.
Ultimately, the only thing that a home showing will cost you is time. If you find that a home matches or exceeds your expectations, you can always submit an offer on this residence after a showing. Conversely, if a home falls short of your expectations during a showing, you can continue your search for your ideal house.
2. You are interested in learning about the local housing market.
Let's face it – the housing market can be tricky to navigate, particularly for those who intend to purchase a home for the first time. Luckily, a home showing offers a commitment-free opportunity to examine a residence and learn about the local real estate market.
Typically, a home showing allows you to review a house in-person and ask questions about this residence. Once the showing is complete, there is no obligation to move forward with a home purchase. Instead, you can assess your homebuying options and proceed accordingly.
3. You want to narrow your home search.
Although you know that you want to buy a house, you still have lots of ideas about what you want from your ideal residence. Thankfully, a home showing gives you an opportunity to walk through a house and determine what you like and don't like. And even if you decide not to proceed with a home offer, you can use the insights from a home showing to hone your house search.
If you need help setting up a home showing, you may want to reach out to a local real estate agent sooner rather than later. Because if you have a real estate agent at your side, you can check out a wide range of residences and boost the likelihood of discovering your dream home.
A real estate agent can help you get ready for a home showing and offer plenty of insights into the housing market. This professional also will walk through a house with you during a showing and is prepared to respond to any concerns or queries. Perhaps best of all, if you want to submit an offer on a house after a showing, a real estate agent will make it simple to put together a competitive homebuying proposal.
Make your homeownership dream come true – attend a house showing, and you can increase your chances of finding a terrific residence that you can enjoy for years to come.