see a lot of houses
You may think that you know exactly what kind of home you want. However, the right townhouse, bungalow or semi-detached home can unlock its benefits if you have an open mind. This is a great reason to present a variety of options to your agent.
Most houses give out leaflets about its features, but don’t hesitate to take your own photos to review later. Also, don’t think twice about looking in closets, testing faucets, flipping light switches, and testing windows. You might be surprised to learn how water pressure, power flow, and storage options can vary from household to household.
get a home inspection
Let’s say you see a house and like it. what happens next? Once your agent has helped you negotiate the price and the seller has accepted your offer, your agent will arrange for a home inspection. The inspector’s findings will give you the opportunity to either renegotiate your offer or to back out altogether (if any structural damage has occurred).
If the home inspector finds problems with the home, you can still work with the seller to fix those problems. If the seller agrees to fix something, you’ll have one more opportunity to learn about the property before the sale closes.
shutterstock: olivier le quenectie up loose ends
If you haven’t opted for a mortgage when you get pre-approved from the bank, now is the time to make those decisions. A mortgage banker can help you choose the right loan type for your situation. If your priority is to keep the monthly payment manageable, or you plan to relocate within a few years, share this information with your banker.
You can also arrange for an appraisal from your bank if you are concerned about whether you are paying a fair price for the home. An independent appraiser will share his estimate of the home’s value with you, the seller, and the bank.
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