- Category: Market Updates Market Updates
- Published: 30 March 2008 30 March 2008
- Hits: 13154 13154
Conducting a real estate transaction almost becomes second nature after 13 years in the business. I often take for granted the fact that for many people, the basics are still a little sketchy...
Here's what you need to know:
Obtain Mortgage Preapproval Before You Begin House Hunting
- Learn how much home you can afford
- Strengthen your bargaining position with sellers
Choose a Real Estate Agent
- Ask mortgage lenders to recommend agents they work with
- Select a reputable professional who will listen to your needs and make you feel comfortable
- Ask agents for references from former clients
- Ask agents the basic questions: How lang have you been selling real estate? How many homes do you sell each year? Can you commit the time to helping us? What is your real estate education and experience?
Find the Right Home
- Determine the needs of you and your family
- Create a wish list & a list of "Must Haves" as well as "Would Likes"
- Take notes as you preview homes with your agent
- Ask about recent foreclosures or "short sale" homes
Make an Offer
- Have your agent research the status of the property as well as the seller's motivation whenever possible
- Have your agent negotiate the best deal for you
- Be prepared to deposit earnest money when making the offer
- Be prepared for counter offers and/or addendums following your initial offer
Have the home inspected
- Hire a professional home inspector after the offer has been accepted
- Find an experienced inspector you can trust
The Home will be Appraised
- The lender will order the appraisal to establish value for the lender's benefit
Obtain Title Insurance
- This guarantees that the property you are purchasing is free of liens or confusion in rights of ownership
- The policy insures against any losses to the property that result from defects in the title or deed
Close on the Property
- Signing the documents does always mean you own the home
- It must fund and record at the county court house to insure ownership
Now you are the proud owner of your home!
Whenever you want to make that Idaho Real Estate your own, remember, I'm always looking out for your next move in the Boise ID real estate market!