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Lou McNamee's Blog

By Lourdrie McNamee | Agent in Lakewood, CA

Is it Your Time to Buy a Home

Is it Your Time to Buy a Home

Once you've made the decision to buy a home, it's time to start thinking about what comes next. Every buyer needs a checklist that will guide them through the process of searching for the perfect home, evaluating their choices and making a purchase.

Learn The Lingo

Time to call Lou, I will familiarize you with various real estate terms, conduct research on the market value of homes in the area in which you intend to shop. This information will help as you browse homes, speaking with Lou, she will help you through the buying process.

Get A Free Credit Report

Every 12 months, you are entitled to request a free copy of your credit report from each of the three major credit reporting agencies - Equifax, TransUnion and Experian. You should make this request before you begin looking at homes in order to allow yourself enough time to identify and dispute any inaccuracies in your credit file(s). When you approach a lender, you will need to make sure that everything is correct and up-to-date.

Get Pre-qualified

Pre-qualification is different than pre-approval in that it gives you a possible price range that you can afford, but does not guarantee you the loan. Pre-qualification is important because it will help you narrow your search to include only homes that you can afford. Knowing what you can pay beforehand will save you both time and disappointment in looking at homes that do not fit your budget.

Speak With Lou

Nobody knows the real estate business like a REALTOR®, so let me help you to find your new home. Based on your specific requirements, I can locate a home that will suit you at a price that's within your budget.  Once a few listings are found we are now ready to tour the homes.  At this point, you should take a camera for the purpose of later reviewing each house with visuals instead of relying solely on memory.

 Make An Offer

Once you find the perfect home, make an offer that's less than you are actually willing to pay. This way, the seller can make a counteroffer that would hopefully still be within your budget. It's important to familiarize yourself with the art of negotiation so that can learn how to get the best deal without insulting the seller. If you have not yet been pre-approved, make sure that your offer is contingent upon your being able to obtain the necessary financing.

Obtain A Loan

Once you and the seller agree on a purchase price, you will be required to provide an earnest money deposit that will secure the home as you obtain a loan (if applicable). A lender will require a home inspection and appraisal for the property in connection with your loan application. In most cases, you will know within 24 hours whether or not your application is approved, but the actual closing will not occur until the inspection and appraisal are complete.

Get Moving

Now that the papers are signed and you have the keys to your new home, it's time to get moving - literally. Remember to decorate your new home and add all of those special touches that reflect your personality. After all, a house is only a house until you make it a home.

 If  you feel you are ready to start the home buying process, give me a call.  It would be my pleasure to offer you my services and have the opportunity to serve you. 

 

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Lourdrie “Lou” McNamee 

Coldwell Banker    

Lic#01317775 

loubandb@gmail.com

loubandb.com 

facebook.com/LifeInLakewoodRealtor 

562-879-9677

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