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FitzGibbons Real Estate
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Once you’ve made the decision to buy a home, it’s time to start thinking about what comes next. Every buyer needs a Home Buying Checklist that will guide them through the process of searching for the perfect home, evaluating their choices and making a purchase.
When you set out to buy a new home, you will need to familiarize yourself with various real estate terms, conduct research on the market value of homes in the area in which you intend to shop and learn the art of negotiation. This information will help as you browse homes, talk with realtors and get further into the buying process.
Every 12 months, you are entitled to request a free copy of your credit report from each of the three major credit reporting agencies – Equifax, TransUnion and Experian. You should make this request before you begin looking at homes in order to allow yourself enough time to identify and dispute any inaccuracies in your credit file(s). When you approach a lender, you will need to make sure that everything is correct and up-to-date.
Pre-qualification is different than pre-approval in that it gives you a possible price range that you can afford, but does not guarantee you the loan. Pre-qualification is important because it will help you narrow your search to include only homes that you can afford. Knowing what you can pay beforehand will save you both time and disappointment in looking at homes that do not fit your budget.
Nobody knows the real estate business like a realtor so let them help you to find your new home. Based on your specific requirements, a realtor can locate a home that will suit you at a price that’s within your budget. When he/she finds one or more possible candidates, you will be invited to tour the home. At this point, you should take a camera for the purpose of later reviewing each house with visuals instead of relying solely on memory.
Once you find the perfect home, make an offer! If you would like to negotiate with the seller, you may want to place an offer that is less than the asking price. This way, the seller can make a counteroffer that would hopefully still be within your budget. It’s important to familiarize yourself with the art of negotiation so that can learn how to get the best deal that will make both you and the seller happy. If you have not yet been pre-approved, make sure that your offer is contingent upon your being able to obtain the necessary financing.
Once you and the seller agree on a purchase price, you may be required to provide an earnest money deposit that will secure the home as you obtain a loan (if applicable). A lender will require a home inspection and appraisal for the property in connection with your loan application. In most cases, you will know within 24 hours whether or not your application is approved, but the actual closing will not occur until the inspection and appraisal are complete.
Now that the papers are signed and you have the keys to your new home, it’s time to get moving – literally. Remember to decorate your new home and add all of those special touches that reflect your personality. After all, a house is only a house until you make it a home.
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The data relating to real estate on this web site comes in part from the Internet Data Exchange ("IDX") Program of NYSAML's. Real estate listings held by brokerage firms other than FitzGibbons Real Estate and Insurance Agency are marked with the IDX logo and detailed information about them includes the name of the listing brokers. Information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing. All information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal. Neither the listing broker(s) nor FitzGibbons Real Estate and Insurance Agency shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless CNYIS, UNYREIS, WNYREIS.
Information last updated on 2024-03-18 17:30:15.