Buyer's Guide

Purchasing a property is most likely the biggest financial decision you will ever make. Whether this is your first purchase or you are an experienced buyer, this decision must be made carefully.

 

Are you tired of paying rent? Have you decided to pay your own mortgage and not your landlord’s? Have you outgrown your current home? Are you looking for an investment portfolio?  Would you rather live in a different area? Having a clear sense of your reasons for buying will help you choose the right property.

Before you start shopping for your property, it is a good idea to make some preparations.

 

A green file contains all your important financial documents if you will need it to secure financing for your property. The typical green file should contain:

 

• Financial statements
• Bank accounts
• Investments
• Credit cards
• Auto loans
• Recent pay stubs
• Tax returns for two years
• Copies of leases for investment properties
• 401K statements, life insurance, stocks, bonds, and mutual account information.

Your credit score will have a huge impact on what type of property you can buy, and at what price. It is first recommended to check your credit rating with an experienced lending institution so that we can determine what you can afford. We will be happy to recommend experienced, knowledgeable lenders in the residential, construction, and commercial and investment real estate fields.

 

Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability. In other words, do not apply for loan and change jobs or retire. Do not brake any large purchases or move monies to new or “unseasoned” (less then 2 months) accounts.

Once those preparations are out of the way, it is time to find the right property for you.

 

Get to know the neighborhoods, compounds, or subdivisions, which interest you. Drive around get a feel for what it would be like to own a property in the area. Start getting a sense of the properties available in those areas. Drive areas of interest at different times of day to see if there are any factors that will affect your enjoyment.

 

Select a few properties that interest you the most and contact us to make appointments to visit them. Ask your real estate agent about the potential long term resale value of the properties you are considering.

 

Once you have picked out the property you want to purchase, we are here to help you make an offer that the seller will accept. A good broker will investigate the potential costs and expenses associated with the new property. Our goal is to help you draft your offer in a way that gives you the advantage over another offer.