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Real Estate 101: Information for Buyers

Owning a home is a wise investment and one of the most exciting purchases you’ll ever make. Since there are so many questions surrounding the purchase of a property, it’s important that you have peace of mind while going through the process.

Whether you’re looking to buy your primary residence, a second home or a luxury vacation home, here at Rent 1 Sale 1 Realty, you’ll enjoy that peace of mind when you choose one of our experienced, highly skilled and competent real estate associates. Each one of our professional associates prides themselves in performing at the highest level of legal and ethical standards of practice.

Below you will find tips to help you through this buying process:

Hire an Experienced Real Estate Associate

Today more than ever, people are choosing to allow a real estate associate to assist them in the purchase of their home for the same reasons they hire any other professional.

A licensed realtor is a professional who has been specially trained and is knowledgeable in real estate contract, negotiation, financing, laws and paperwork. They possess the necessary expertise and will take the time to get the job done right, helping you to avoid added stress as well as possible pitfalls.

Ultimately, you can expect to depend on your real estate associate to gently guide and assist you through the entire buying process.

Get Pre-qualified

You’ll want to contact lenders who can pre-qualify you for a mortgage. This will tell you how much home you can afford and this process can usually be done over the telephone. When you see a property you would like to make an offer on, being pre-qualified will allow you to move quickly and also lets the owner of that property know you are ready, willing and able to purchase it.

What type of property are you looking for?

The next thing you want to do is define what type of property you are looking for? What things in the home are most important. Make a note of things that you absolutely need to have, along with those things you would like to have included. Let your Rent 1 Sale 1 Realty associate know what is on your list so that they may search for properties that are best suited to your needs.

Visit Properties

Ask your Rent 1 Sale 1 Realty associate to search and arrange showings of properties that meet your specific needs. To keep you from getting confused, rate and make notes on each property as you view them. This will help to narrow down possible properties. Your associate will also keep track of all properties you have looked at, as well as offer suggestions as to the pros and cons to purchasing such properties.

Make an Offer

Once you have found your dream home you will be able to depend on the competence of your Rent 1 Sale 1 Realty associate to prepare the necessary contract and to professionally present the offer on your behalf. Since all of our agents are highly skilled in negotiations, they will inform you of your options, so you can make an educated decision on how you want to proceed.

Arrange for a Home Inspection

Once your offer has been accepted, be sure to schedule a home inspection. Your Rent 1 Sale 1 Realty associate can assist you in finding a reputable inspector. A home inspection will provide you with information of any possible problems with the property. You will be given a report written by the inspector after they have thoroughly gone through the property, usually with an estimate for any repairs or replacements. You may want to use this report to negotiate repairs as part of the purchase. Make sure that you do a final walk through of the property before closing.

Close

Before the actual closing on the property you want to make sure to deposit any monies required, as well as complete any necessary paperwork for the mortgage, title, homeowners insurance, along with any paperwork that may be required by local or state governments. To make sure that the closing process goes smoothly, your Rent 1 Sale 1 Realty associate, will see that all necessary paperwork is complete and check to make sure all documents are correct. In addition, they will also accompany you to the closing of the property.

Prepare to Move Into Your Dream Property

Some things you’ll want to remember to do before your move, is to make sure that you contact the local utility companies to turn on your electric, gas, telephone, water as well as contact your local postmaster and arrange to have your mail transferred. Ask your Rent 1 Sale 1 Realty associate, as they usually can provide you with a list of telephone numbers and addresses to these companies.

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