Frequently Asked Questions--First Things First For Potential Buyers

Naturally, new clients (both buyers and sellers) come to me with a list of questions before I represent them. Usually these questions are pretty predictable--there are some things that people always want to know before they buy/sell their home. In order to make the process clearer for everyone and to make this information more accessible, I've decided to run an FAQ's section on this blog. Every now and then I'll post something I'm often asked, and if you think of anything, please feel free to email me your questions or post them in the comments section---maybe I'll feature one of your questions in a future post! 

QUESTION: WHAT IS THE FIRST THING I SHOULD DO WHEN STARTING TO LOOK AT HOMES TO BUY?

ANSWER: Before you go house-hunting, it's important to know how much you can afford. Get a pre-approval from a reputable lender. Your agent will be able to suggest reliable sources if you don't know where to start. In today's tough credit market you need to know exactly what you can and want to pay on a monthly basis BEFORE looking for a home. It is important to get a full pre-approval, not just a pre-qualification from a good lender. A pre-approval will include a credit check and verification of income, assets, and liabilities. You should get pre-approved for the maximum you qualify for and then decide if you want to spend less. After you get your pre-approval you can move on to the next steps in the process. Plus, you want sellers to know you're financially qualified when you make an offer-- a letter from a lender that attests to your credit worthiness can boost your chances of getting that home. 

For more information on what to do next and more answers to frequently asked questions, keep checking the blog. It's updated regularly.