Buying a property for the first time can be a bit scary. The Burlington MA first time buyer tips below may help. Homes are a big investment and buyers should become educated on the process.
Before Beginning a Property Search
Select a Local Lender & Get Pre-approved
Speak with a local mortgage company and obtain a pre-approval. The programs and offers can vary from one company to another. Review the programs and closing costs to identify the best program. Starting this process ahead of time will help you understand the potential up-front and monthly costs of home ownership. This may give a good estimation of what you can afford.
Get Help from a Real Estate Professional
Find a real estate agent to help with your property purchase. Interview several agents and pick one that best understands your needs. Experienced agents will help you narrow down options, prepare contracts, and facilitate a smooth transaction. This guidance will be extremely important first time buyers.
Buying Process Information
Only view real estate within your budget. This avoids the heartache of wanting a home that you cannot purchase. Touring properties can take reasonable time and energy, so sticking to your range will also save valuable time.
Real estate agents can offer tips on contracts and negotiating them, but they can not practice law. Look into using a local real estate attorney to interpret legal jargon and add any necessary terms. Make sure that you sufficiently understand the terms and obligations of contracts before signing them.
Inspections are not an opportunity to renegotiate price. Also avoid negotiating previously disclosed issues. Such strategies are not typically successful and result in wasted money spent on the inspection. Sellers may agree to repair issues, offer to compensate you for them, or do nothing at all. Reasonable requests are more likely to be accepted.
Prior to the closing, you traditionally have an opportunity to walk thru the property one last time. Try and complete this after the seller has removed their belongings. Resolve any problems before signing closing paperwork as completing the closing signifies your acceptance of the property and its current condition.
Be sure to bring legal identification to the closing. Bring a certified check or money order for any money due. Also bring your checkbook for any last minute changes. After the closing, the property is officially yours!
More Burlington MA First Time Buyer Tips
The home buying process can be much easier with some advanced preparation and knowledge. For details beyond what is provided in this Burlington MA first time buyer tips, contact Peter DaMore at Law Offices of Peter T. DaMore Jr. by calling 781-229-7900 or by emailing email@example.com.