Home Buying Process
Moving can be very exciting but it can also be very stressful as there are so many things to remember to do! Don’t despair; whether you are doing it on your own, asking friends for some help, or hiring professionals, here is a quick guide to help you get through the buying process.
- Don’t “low-ball” your initial offer
Vendors tend to give less of a counter offer (closer to list price), if they feel insulted. Understand the current market value of the home and comparable SOLDS.
- Get Pre-approved
A pre-approved mortgage can be done for 60-90 days for FREE.
- Have your agent help you arrange a home inspection
A home inspection with a professional home inspector costs about $400.00 (approx). It could very well be your best money spent. You want to exactly what you are buying.
- Arrange an accelerated Bi-weekly payment plan on your mortgage.
On your mortgage, you will save the most money if you opt for an accelerated Bi-weekly payment plan, or if you double up one payment per year. This will shorten your amortization periods by over 6 years!
- Be sure to check into your lawyer’s fees ahead of time.
These are separate from disbursements. Ask your agent, who will be able to refer you to reliable professionals.