dotty blah: Three Key Steps to Start the Home Buying Process

Sunday, January 20, 2013

Three Key Steps to Start the Home Buying Process | Charlesgate ...

So you?re reading this blog. You?re reading the newspapers. You?re starting to see things shape up as a good time to buy in the Boston real estate market.

But now what?

You may not be quite sure what do to.

Well, here are a few things to help you on your way:

Step 1: Learn the Home Buying Process

Get familiar with the real estate market in the neighborhoods or towns you want to buy and learn the home buying process by attending a first time home buyer class. The home buyer class will cover everything from what you can afford and how mortgage financing works to all the pitfalls you need to avoid to be a successful home buyer in today?s fast paced Boston real estate market.

Step 2: Meet with a Buyer Agent

Finding a good buyers agent is critical. An experienced agent will help guide you through the the entire process. Sit down with your agent for a complimentary buyer consultation and spend the time to discuss your needs as they relate to the market and the buying process.

It?s a lot of info, so expect to spend about an hour. You?ll get a lot of great info, build rapport and have all your questions answered. When you leave you should feel comfortable that you understand what to expect for service from the agent and that the agent understands what you?re looking for.

The buyer agent will also set you up to receive new listings via email to monitor the market (or you can request listings now).

However, your agent should be in touch with you regularly. Listings will come on market and you need to know about them quickly, given such limited inventory in the market right now. So, expect to hear from your agent about the best listings before you find them online. That?s one of the reasons to meet for an initial buying consultation and explain your needs in detail to your buyer agent ? it helps him do his job better.

Step 3: Get Preapproved for a Mortgage

The agent will also instruct you to get in touch with a mortgage person to get pre-approved. This will let you how much you can afford ?and the proper price range in which you should be searching for a home.

This pre-approval will also be expected by any seller when you make an offer. So having one is essential for being prepared when you find the home for you.

Having taken the time to have the home buying process explained, meeting with a qualified buyer?s agent, and getting pre-approved for a mortgage will prepare you for your exciting journey to homeownership!