What can I afford?
- Calculate your monthly income and debt.
- Check your credit report and FICO score.
- Use a mortgage calculator.
- Figure out your down payment.
What is a mortgage? Is my credit good enough to qualify?
- Educate yourself about mortgage types and choose one.
- Speak to at least five lenders and mortgage brokers.
- Shop for the best interest rates and programs.
What type of home do I want?
- Choose a location (downtown, urban, suburban, rural).
- Choose a type (single family, townhouse, condo, loft).
- Choose a price range.
- Choose a size.
- Choose an architectural style.
What area would I like to live in?
- Look online for information on schools, crime rate, traffic and zoning.
- Determine your work commute.
- Scout local amenities, such as parks, shops and restaurants.
Is there a realtor out there that is a good fit for my situation?
- Get referrals.
- Consider working with an exclusive buyer’s agent.
- Interview at least three agents.
- Look for experience and good chemistry.
How do I find homes for sale?
- Browse listings on our website at KRGRealty.com.
- Ask your agent to set up tours of homes that fit your criteria.
- Check local newspapers.
- Pick up flyers and attend open houses.
How do I get this deal done?
- Get the house appraised.
- Get a professional home inspection.
- Consider getting specific inspections for structural engineering, roof and termites.
- Use the appraisal and inspection reports to re-negotiate if necessary.
- Choose a home insurance company.
- Complete the loan process with the lender.
- Do a walk-through inspection prior to closing.
- Set aside cash for the closing costs and down payment.
What is the process to offer to a seller and get the price I desire?
- Determine the purchase price.
- Include contingencies, such as financial, inspection or purchase.
- Spell out any special requests and repairs you want included in the sale.
- Determine an earnest money amount.
- Define a move-in date.
- Once both parties agree to the terms, sign the Purchase and Sale Agreement.
How do I know if the home I want to purchase is a good investment?
- Ask your agent for comps to estimate the property’s fair market value.
- Ask the seller’s reason for selling.
- Review all property disclosures.
- Find out about liens, easements or other restrictions.
When can I close?
- Review the settlement document at least 2 days before closing to see how funds will be collected and distributed.
- Get a cashier’s check for the amount you need to bring to closing, including the down payment and closing costs.