Pam Spiros' Blog
A home showing enables a property buyer to get an up-close look at a residence. After a showing, a property buyer can determine whether a house matches his or her expectations. And if a property buyer likes a house, he or she may be ready to take the next step in the homebuying journey.
Ultimately, a showing is crucial for a property buyer. And if you fail to plan accordingly for a home showing, you risk missing out on the opportunity to identify your ideal residence. Lucky for you, we're here to help you get ready for a house showing and ensure you can use this opportunity to your advantage.
Let's take a look at three tips to help you prepare for a house showing.
1. Create a Checklist
You may have already learned about a home from a listing. However, there is only so much information available in a home listing. But if you craft a checklist prior to a house showing, you'll be better equipped than ever before to get the insights you need to determine if a home is right for you.
Include any questions you have about a home in your house showing checklist. Also, you may want to include areas of a home you want to review during a showing in your checklist.
2. Give Yourself Plenty of Time
There is no reason to rush through a home showing. Because if you fail to allocate the proper amount of time to conduct a showing, you may struggle to obtain the insights you need to make an informed decision about a house.
Clear your schedule for at least an hour before and after a showing – you'll be glad you did. This should give you sufficient time to arrive at a home and take an in-depth look at all areas of the property.
Of course, if you find that one home showing is insufficient, there is no need to stress. You can always schedule a follow-up showing to further review a residence.
3. Consult with a Real Estate Agent
A real estate agent can teach you everything you need to know about buying a house. Plus, he or she can help you get the most out of any home showing, at any time.
Typically, a real estate agent will attend a house showing with you. He or she can provide home insights as you walk around a residence and respond to your property buying concerns or questions. In addition, a real estate agent is happy to provide homebuying recommendations and suggestions. And if you're ready to submit an offer to purchase a home following a showing, a real estate agent can help you do just that.
As you get set to attend a home showing, you should prepare as much as you can. Thanks to the aforementioned tips, you can get ready for a home showing and use this opportunity to decide whether a particular residence will be able to serve you well for years to come.
Let's face it – homebuyers often face intense pressure. In many instances, dozens of homebuyers may compete for the same residence. And if you don't act quickly, you risk missing out on your dream house to a rival homebuyer.
Believe it or not, it sometimes can be beneficial to take a wait and see approach to buying a house. Some of the key reasons for homebuyers to consider deploying a wait and see approach include:
1. You can determine exactly what you want in your dream house.
Differentiating between must-haves and wants can be tough, particularly for homebuyers who are shopping for residences for the first time. Fortunately, if you take a slow, gradual approach to homebuying, you can view a variety of residences and narrow your search accordingly.
Oftentimes, homebuyers can benefit from attending open houses and getting a firsthand look at myriad residences. Each open house provides an opportunity to analyze a home, review its pros and cons and determine whether a residence is right for you. As such, homebuyers can attend many open houses to better understand what they want from a dream residence.
2. You can get your finances in order.
Although you know you want to buy a house, getting your finances in order may prove to be hassle. Luckily, homebuyers who implement a wait and see approach can find a mortgage that matches their finances perfectly.
Ideally, a homebuyer should meet with several banks and credit unions and explore all of the mortgage options at his or her disposal. During each meeting with a mortgage lender, a homebuyer can receive expert insights into many mortgage options.
A homebuyer may want to get pre-approved for a mortgage as well. If a homebuyer embarks on a search for the right mortgage today, this individual can move closer to entering the housing market with a budget in hand and simplifying his or her home search.
3. You can find the perfect real estate agent.
Ultimately, the real estate agent that you select may dictate the success of your quest to find your dream residence. If you allocate the necessary time and resources to hire a hardworking and experienced real estate agent, you should have no trouble streamlining your home search. On the other hand, if you rush to hire the first real estate agent that you meet, you risk making the wrong choice.
When it comes to finding the perfect real estate agent, it pays to be patient. By spending some time learning about various real estate agents in your area, you can select a top-notch housing market professional to guide you along the homebuying journey.
Lastly, don't forget to select a real estate agent who is available to respond to any homebuying concerns and questions, at any time. With this housing market professional at your side, you can boost your chances of discovering your ideal residence.
There is no need to rush to find your dream home. Instead, take a wait and see approach to buying a house, and you may reap the benefits of your decision for years to come.
When it comes to home buying a home, there’s a ton of different information available out there. A lot of what has been presented as “fact” actually is quite false. These misconceptions could keep you away from achieving the very real dream of home ownership. Below, you’ll find some of the most common myths that you’ll find about home buying.
If Your Credit Score Isn’t Up To Par, You Can’t Buy
To get good mortgage rates, having a good credit score doesn’t hurt. You can still buy a home if you don’t have amazing credit. A low credit score means that your mortgage rates will be higher than the average. There are loans like FHA loans, that allow for you to get a loan with a credit score as low as 580. Don’t let a lower credit score discourage you from buying a home. If your credit score is low, there are plenty of things that you can do to help you fix the score in a short period of time.
You Need 20 Percent Down To Buy A Home
This is a long-standing myth about home buying. While putting down 20 percent on a home purchase saves you the extra expense of Private Mortgage Insurance (PMI), you can still be in the running to buy a home if your down payment is less than 20 percent. There are even some home loan programs that allow buyers to put as little as 0-3 percent down for the purchase of their home.
You Have To Make A Lot Of Money To Buy A Home
Your monthly income is one of many aspects of your financial life that’s considered when you’re buying a home. Home loans can be denied to those who make a large income just as easily as to those who have lower incomes. What matters is the debt-to-income ratio, which tells lenders how much debt a buyer has compared to the amount of income the buyer makes each and every month. Keep your debt down, and you’ll be in good shape to buy a home.
You Don’t Need To Be Pre-Approved To Get A House
Being pre-approved gives you an upper hand in the home buying process. Being pre-approved allows your lender and you to go through the entire process of getting a mortgage. When you find a home that you love, you’re able to breeze through the process of making an offer if you’re pre-approved. The pre-approval process is one of the most important aspects of buying a home.
If you’re prepared with knowledge, buying a home isn’t such a daunting process after all. Find a realtor you trust, understand your finances, and the rest will fall into place!
The weeks and days leading up to a home closing can be stressful, particularly for a homebuyer who is already trying to do everything possible to secure his or her dream residence. Fortunately, we're here to help you simplify the process of getting to your closing date.
Now, let's take a look at three tips to ensure you can enjoy a fast, easy home closing.
1. Get Your Paperwork Ready
It often helps to get all of your homebuying paperwork ready before you pursue a residence. That way, you can minimize the last-minute stress associated with searching far and wide for pay stubs, tax returns and other documents that you'll ultimately need to get financing for a residence.
Furthermore, you should meet with local banks and credit unions as soon as you can. If you can get approved for a mortgage prior to starting a home search, you may be able to speed up the process of acquiring your ideal residence.
2. Be Prepared to Cover Your Closing Costs
Although you might have financing to cover your monthly mortgage payments, it is important to remember that you may need to pay closing costs to finalize your home purchase. As such, if you begin saving for your closing costs today, you can guarantee that you'll have the necessary funds available to purchase your dream residence on your scheduled closing date.
Also, you should be prepared to present a cashier's check or wire funds when you close on a house. If you plan ahead, you should have no paying off your closing costs when your complete your home purchase.
3. Schedule Your Final Walk-Through Before Your Closing Date
When it comes to a final walk-through on your dream house, why should you leave anything to chance? Instead, set up the final walk-through at least a few days before you're scheduled to close on a house.
If you find problems with a house during a final walk-through, you'll want to give the seller plenty of time to address these issues. Thus, if you schedule a final walk-through several days before your closing date, you can ensure that any home problems can be corrected without putting your closing date in danger.
For homebuyers who are worried about a home closing, there is no need to stress. In fact, if you work with an expert real estate agent, you can receive plenty of support throughout the homebuying journey.
Typically, a real estate agent can explain what you should expect in the time leading up to your closing date. If you have any concerns or questions before a home closing, a real estate agent is happy to address them. Plus, when your closing date arrives, a real estate agent will help you remain calm, cool and collected as you purchase a home.
Ready to streamline the process of closing on a house? Use the aforementioned tips, and you can reap the benefits of a quick, seamless home closing.
Finding a mortgage lender should be easy, particularly for homebuyers who want to purchase a high-quality residence without having to worry about spending too much. However, many mortgage lenders are available nationwide, and the sheer volume of lenders can make it difficult to choose the right one.
Lucky for you, we're here to help you streamline the process of selecting the ideal lender.
Now, let's take a look at three tips that homebuyers can use to accelerate the process of choosing the perfect lender.
1. Know Your Credit Score
Your mortgage interest rate may vary based on your credit score. As such, you should learn your credit score before you begin your search for the right lender. This will enable you to boost your credit score if necessary – something that may help you get a preferred mortgage interest rate.
You are eligible for one free copy of your credit report annually from each of the three major credit reporting agencies (Equifax, Experian and TransUnion). Request a copy of your credit report, and you can find out your credit score and map out your search for the ideal mortgage lender accordingly.
2. Meet with Several Mortgage Lenders
There is no shortage of mortgage lenders in cities and towns around the country. Therefore, you should allocate the necessary time and resources to meet with several credit unions and banks to explore all of your mortgage options.
Each lender can provide details about fixed- and adjustable-rate mortgages, how these mortgages work and other pertinent mortgage information. This information can help you make an informed decision about a mortgage.
In addition, don't hesitate to ask questions when you meet with a mortgage lender. If you obtain plenty of information from a mortgage lender, you'll be able to understand the pros and cons of various mortgage options and make the best choice possible.
3. Review a Mortgage Closely
A mortgage may enable you to secure your dream residence, but it is important to understand all of the terms and conditions associated with a mortgage before you select a lender.
For example, if you decide to purchase a condo, your mortgage might only cover the costs of your property. Meanwhile, you still may be responsible for condo homeowners' association fees that total hundreds of dollars each month, so you'll need to budget properly.
Of course, you should feel comfortable working with a mortgage lender as well. The ideal mortgage lender should be available to answer your concerns and questions at any time and help you stay on track with your monthly mortgage payments.
If you need extra assistance as you consider the mortgage lenders in your area, you can reach out to a real estate agent for additional support. This housing market professional can provide insights into mortgage interest rates and may even be able to connect you with the top local lenders.
Take the guesswork out of finding the right mortgage lender – use these tips, and you can move one step closer to getting the financing you need to buy your dream residence.