There is a whole lot involved when you have decided to purchase a home. Obviously, it begins with figuring out how much you can afford to spend and where you want your home to be located, but it gets much more involved than that.
Once you have crunched the numbers, prepared your budget, and done your research regarding location, the journey is just beginning. You are in a much better position to have an offer accepted by a buyer if you have been pre-approved by a mortgage lender for the proper amount of money and can show the seller proof of this. Selecting your mortgage lender involves shopping around to discover which lender is most likely to approve you and is offering the best mortgage rates Loganville Ga.
Once you have been pre-approved, it is time to decide on which real estate agent you want to work with in your search for your new home. It is a good idea to select an agent that is familiar with the area in which you are searching and is familiar with that market in regards to what similar homes have been recently sold for. This agent should also be familiar with local codes and ordinances and which local title companies and house inspectors are available.
Once you have selected the home you would like to buy, you must make an offer to the seller through your real estate agent. Your agent should have a good feel for the local market and what constitutes a fair offer. For instance, in some markets with low inventory, interested buyers may be making sellers an offer higher than the listed price.
The seller can either accept your offer or, if there are no better offers, respond to you with a counteroffer. This process goes back and forth until both buyer and seller are in agreement. It is crucial that you are knowledgeable of these processes when you decide to purchase a home, or you may find yourself later with buyer’s remorse.