Buying Real Estate:
Congratulations on making the decision on purchasing your first home. Buying a home can be exciting but also can be stressful. The stress is usually derived from having so many questions. We make sure that we are there to answer all the questions and help from start to finish. We understand that if you already knew everything there is to know about Real Estate you would not needs us. So never leave any questions on the table, even if you think it is not important.
As a Buyer know your rights:
- Fair Housing: Equal Opportunity for All- Brochure
- Real Estate Settlement Procedures Act (RESPA)
- Borrower's Rights
- Predatory Lending
Here are some things to help you get started:
1. Get Pre-Approved for a Mortgage
* Do this by contacting a Mortgage Specialist. You can interview Loan Officers and find one that you are comfortable working with. We can also recommend one to you as well.
2. Gather your documents for the Mortgage Specialist
The Loan officer will need:
- Current Paystubs (Equaling one month)
- Two years most recent W-2's and Tax Returns (All schedules)
- Two months of asset statements. Bank Statements, Money Market, 401k, etc.
Note: The Loan Officer will look at your financial and credit history. If you have credit issues this does not mean you cannot purchase a home. Contact us so that we can further assist you on correcting any issues.
3. Determine how much you can afford
* How much you are approved for and how much you want to spend can sometimes be two different numbers. Make sure that you thoroughly go over your financial situation to ensure you are not over extending yourself.
4. Shop for a home
* Once you have completed steps 1-3 you can start looking for a home.
Important things to help you in your search:
- Find a Real Estate Agent. It is important that you work with a Real Estate Agent that you are comfortable with. A good way to start your search is to ask friends and family for referrals. Regardless of which Real Estate Agent you choose to work with, we at Campbell Real Estate are always here to help you.
- Decide where you want to live. Be honest with your Agent on the areas that you want to look for homes. This will allow them to be more sufficient and save you time.
5. Submit an offer
* When submitting an offer make sure your Agent truly understands your needs. This will help in deciding what to ask for in the offer and how much to offer. Submitting offer that meets your needs and meets the sellers needs is important in getting your offer accepted.
6. Close on your home
To close on your home you must do few things during the escrow period:
- Home Inspections
- Secure a mortgage
- Sign Closing Documents