I would advise getting pre-approved with a lender so you will know how much house you can purchase. Secondly would suggest finding a Realtor, providing them with your criteria for a home.

Then the Realtor can start searching based on your needs. You will find a good deal with the right realtor...

Good Luck

Fri May 9 2008, 06:50

Definitely get with a lender and see where your credit stands...this way if you have any boo boo's you can get those taken care of so that you can get a better loan package and hopefully a better rate. After you have your lender taken care of and you know you are approved then you would benefit to meet with an agent and decide if you feel you are a good match with them. If you don't click with an agent then find one you do click with. You are going to be spending a lot of time with them and relying on them to help you throughout a transaction if you don't like them then your whole experience is going to be a challenge! Buying a home can already be somewhat scary and nerveracking don't need to add to the stress. Once you find your Realtor then have them set you up to receive MLS listings so you can see what is out there in the areas you desire. You might realize that the areas you want may not be available based on your price range and you might have to change up your search criteria etc until you find what you are looking for. Right now there are going to be tons of listings 'tis the season! Listings will start slowing down again as we get closer to school starting back. So if you might benefit by really digging in and finding yourself a property around the end of July because normal closing days are 30 however some people and banks will allow you up to 45 days to close. Each listing is different based on the sellers motivations etc.

Well I wish you all the luck and if you need anything feel free to contact me. I'm always looking for new clients. I am a full time agent and always here to serve.

Kendra Murphy GRI, CRS
REALTOR
469-236.5875
hereforyou@kw.com

Fri May 9 2008, 01:02

Hi Vivian,

My advise for you is to start now....the more you see, the more educated about the market you will become. If you do see a house/condo that you really fall in love with then you can ask your Realtor ( If you do not have one try to find a local reputable one ) to write a contingent offer or just a plain offer where you (the buyer) ,have the first right of refusal in case another offer shows up.
Leonardo

Fri Apr 18 2008, 14:32

Hi Vivian - time is always a factor on determining when to start the process, however, it is always a good idea to start speaking with a lender a month or two ahead of time to see where your credit stands, what programs you qualify for and what price range will work. I do offer a free pre-approval process that is quick and easy. I can typically have a preliminary loan determination for you in less than 24 hours and the credit report we pull would be good for 120 days which would allow you the time necessary to find the right home at the right time. Terri Hayley (one of my realtors) had mentioned that closing in July you would not have a first payment until September and that might be worth considering. A credit report pulled now would be good through August 18th so that would fit your time frame as well. Terri and her husband and business partner, Robert are a GREAT team to have working for you on finding the right home. If you have any questions on the loan programs available to first time home buyers that offer down payment assistance as well as low down payment options with competitive 30-year fixed rates, please do not hesitate to contact me as I am here to help however I can. Have a great day!!!

Fri Apr 18 2008, 14:18

You should work on preapproval NOW with a lender. We can recommend lenders if you need one or you can start with your current bank or credit union. This will give you time to improve your credit if needed to hit a interest rate break or lender requirement break...ie Conventional vs FHA financing or 3% vs 5% down. Also if there are any negative items that aren't yours it will give you time to get them cleaned up. Then I would start the search about 90 days before you want to move. You need a contract 30-60 days out and at minimum a contract in place 30 days before you want to move. I regularly work these areas and would be glad to assist you.

Fri Apr 18 2008, 11:17

Hi Vivian,

Lots of answers from Trulia as usual! I agree with Lynn to first find out how your credit stands and to do that you should speak with a mortgage broker. Going directly to your bank might seem to make sense, but let me tell you how it really works- the banks cut a deal with the mortgage brokers and so they get a bit better price on the rates and perhaps terms. Start with a mortgage broker who will work in your best interests. If they tell you you can't buy then check with others. When buying a home it is ok to have several hits on the credit from the same kind of "vendor".(mortgage people are vendors.) This just says you are a smart shopper. If you find that your credit needs some tweeking then now is the time to work on it. I have a friend in the business that specializes in credit repair and actually does seminars. Drop me an e-mail for the next one if you are in need of some help in that area. Meanwhile do shop the websites and do some research. Take advantage of an experienced REALTOR the seller pays for their services from the closing but, as long as you sign a buyers rep agreement they work for you, in your best interests. SO to recap:
1. Call a mortgage person or ask a REALTOR (ME?) to refer one!
2. They will check your credit so you can fix it if you need to do so. Your credit is very important these days. It decides how high your rates will be and that decides how high your payments will be.
3. Shop for homes, do your research, decide what you really want from the home search and share it with a REALTOR who can then send you a very customized search of your exact preferred properties.
4. Select a property, make an offer and come to terms to be able to close in the time you need to.
5. Plan a 45 day window maximum from the time you get to contract until you do close. So if your move date is Sept 1 then your "get it under contract by" date is July 15th. There are companies that can do it faster so you can wait but, why would you add to the stress? If we can make this an easy event then perhaps that is a better plan? Good luck and by the way I too am licensed in Texas as well as Florida going on 18 years. Click the photo for more. 972-208-9200 doris@dorisbarnett.com
The truth of the matter is when you look at magazines the houses may already of been sold. There is a lag time. So the best search on your own is the internet and our websites:
http://www.realtor.com or whttp://www.remax.com

Fri Apr 18 2008, 08:52

a) 1st you will need to qualify for loan in order to start working however you are 4 months away from the expiration from your lease. I recommend to start looking 2 months prior to expiration it takes 30 days to close you can possible do a 60 day close.
b) I am a home mortgage loan officer and Dallas realtor can assist you in your purchase
c) You will need to know the amount you can qualify for therefore a realtor can truly work within your best interest
d) I have seen some great foreclosures move in quality and below market.

Contact my office if I can be of further assistance
972-699-9111
Lynn
911@lynn911.com

Thu Apr 17 2008, 21:52

Hi Vivian,
At this point, since you have about 4 months to go until you move out, I suggest you start looking at neighborhoods in particular you might be interested - not necessarily houses. You mentioned some cities, but now is a good time to narrow those town into specific neighborhoods or groups of neighborhoods. A Realtor can get you information on each that will fit the type of place you're looking for. I recommend you start looking at houses about 3 months before you're ready to move. It can take a few weeks to find the house you love and on average, a house closes 30 days after it goes under contract.

For narrowing down the neighborhoods on your own, you can check out Google's new map feature that gives you views from the street or Best Places at http://www.bestplaces.net

If you want more information, feel free to contact me and I'd be happy to help.

Best,
Jennifer Lewis
214-559-3154

Thu Apr 17 2008, 21:20

Hi Vivian,

Congratulations on your decision to become a home owner!

Buying a home is a process. Are you interested in new construction or a resale home? If you are looking for new construction, it takes builders anywhere from 4-12 months to build, depending on the builder. You need to look for a home or floorplan and community you really love. What we've been finding lately is that there have been at least one offer on every home our buyers have put an offer on. So, it may or may not work out on your first go around. Then, there's the loan, qualifying, escrow, and closing process. It takes a little time.

Additionally, if you are a first time home owner, you may not know that if you close in July, you will not have your first payment until September. So, you could actually move earlier than you think, if you'd like, at your leisure. If you are thinking new construction, a lot of times builders will help buy you out of your lease, too. It just depends on "the deal."

My husband (and partner) and I both grew up in Richardson, met here and know this area very well. We went to the schools here, I graduated Richardson High School, and got my degree from UTD. We work with people all the time in these areas and are holding two open houses in Plano this weekend. We would love to work with you and help you find your dream home - whatever that may be!

Thanks so much,
Terri Hayley

Thu Apr 17 2008, 21:12

I would begin my search now and keep notes on properties that interest you. Make notes on when you first see them, if the price changes, when it changes, etc. so that you can become more familiar with "the market". May I help you locate a good real estate professional to assist you with your search in Texas. I have a network of Realtors that I can recommend. May I assume you are a first time home buyer? Please send me an e-mail so we can discuss fiurther. My e-mail address is: jennysellshomes@yahoo.com

Thu Apr 17 2008, 21:08