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Attend open houses and private showings with your agent. Don't just look at the house itself; look at the neighborhood. Visit the area at different times of the day and week. Check traffic patterns during your potential commute times. Look at the condition of neighboring homes. Phase 4: Making an Offer and Closing
Do not skip this step! A pre-approval letter shows sellers that you are a serious buyer with actual purchasing power. 1. Gather Your Documentation guide to buying your first house
Lenders like to see that you will have some money left in the bank after closing to cover emergencies or immediate repairs. 3. Determine Your Budget Attend open houses and private showings with your agent
Are you ready to take the first step by calculating your , or would you prefer to explore the different types of mortgages available to first-time buyers? Check traffic patterns during your potential commute times
It is rare to find a perfect house within a starter-home budget. Distinguish between what you absolutely must have and what would simply be nice to have.
Number of bedrooms, school district, proximity to work, a layout that fits your family.
Your lender will hire an independent appraiser to ensure the home is actually worth the amount you agreed to pay. Lenders will not lend more than the appraised value of the home. If the appraisal comes in low, you will have to negotiate a lower price with the seller or pay the difference out of pocket. 4. Final Walk-Through and Closing
