Get ahead of the game with these pro tips
1. Before You Begin Your Search, Get Pre-approval.
There is a big difference between pre-qualification and pre-approval. Pre-qualification does not guarantee you a loan. It merely establishes how much you are capable of paying for a house but does not take into account all your liabilities.
To get pre-approval, a lender will need to inspect your credit and financial situation. This process guarantees you a specific loan amount. It also determines your monthly payment amount. The lender will issue a letter stating how much you can afford which you can present to sellers when submitting an offer. This shows the seller you are a serious buyer and have already qualified for the home.
2. Shop Around For the Mortgage Loan
Fees and rates vary depending on the lender and you own financial situation. Find a lender that's right for you. Ask friends and family for recommendations. Make sure you get all the information about what services they offer and the fees associated with them. You'll also want to make sure you're getting a decent interest rate, however don't sacrifice a good rate for bad service and high fees.
3. Get a Copy of Your Credit Score
Make sure you know all the facts before being surprised by a lender. You can get a hold of your credit report by contacting one of these major credit bureaus: Trans Union 800-888-4213, Experian 888-682-7654, and Equifax 800-685-1111. Use A Buyer's Agent, Using an agent that solely works for you and not the seller costs you nothing! That's right! The sellerof the home splits the commission of the sale between the listing agent and the selling agent. Sometimes that is the same agent but as a buyer it benefits you more having an agent looking out for your best interest through the whole process.
4. Thinking About A Fixer-Upper?
The price is right, but the place needs a little work. When you close your eyes, you can picture how great the place will look when it's done. The only problem is that it's not done. Can you fix it yourself or will you hire professionals? If you do it yourself, make sure you have the knowledge and ability to accomplish the tasks at hand. If the repairs are out of your league, how much will you be willing to pay to get them fixed? Add this in to your estimates and make sure it's really worth it. Finding the cheapest house in the best neighborhood is a good way to go. Get a Home Inspection, this is an extremely important part of the buyingprocess. Whether or not you plan on asking for repairs or funds to fix them I cannot stress how important this is. Having an inspection lets you learn about the largest investment you're likely to make and prepares you for upcoming issues that you may not have been aware of otherwise. Our agents have excellent recommendations for inspectors in the Clarksville area and you can ask friends and family whom they may recommend.
Feel free to contact us anytime when you see a home or property in the Clarksville real estate area that you would like more information on or if you are interested in connecting with a buyers agent in your area. We want to be your Clarksville real estate professionals.