As many of us know, purchasing a home is a pretty sizeable undertaking that requires significant preparation. Whether you’re working with a short sale realtor, listing agent or some other type of real estate professional, there are many things you can do on your own to get ready for such a substantial move. Last week, we covered determining your budget, saving, prepping your credit and getting pre-approved for a mortgage. Here are some more essential tips for making this process easier and less stressful.
1. Do your research. Get informed about the neighborhoods you are interested in and check out what houses are going for in that area, and what recent sales have been. You can do a lot of research online, and it also helps to talk to people who live in the neighborhood. For example, if you are interested in properties in Palm Desert, it may help to join a local group or organization to get a feel for pricing as well as the community.
2. Find the right professional to work with. It’s really difficult to go through the process of buying a property without the help of an experienced professional. It’s important to find someone who is honest, locally connected, boasts significant expertise and is seasoned in the type of transaction you will be making. For example, short sells can be very tricky to navigate, which is why your best bet would be to hire a short sale realtor to help you through such a transaction. Make sure to get referrals from people who have had good experiences with real estate transactions.
3. Get legal representation. A real estate attorney can be really helpful when making such a large transaction, especially to ensure that all your interests are prioritized.
4. Hire an appraiser. Getting an appraisal is critical in determining the market value of the home you are interested in. It is your legal right and will also be used by your lender. An appraisal is the best way to find the true value of your property—just because you’ve found properties in Palm Desert, doesn’t mean the home is the exact same value of the others in the area. You truly need a professional to come in and give you an accurate assessment.
image: firsttimehomebuyer-nj.com