Tips for Buyers

• Determine your price point
• Home Cost at a high level includes Mortgage (loan), Down payment, Closing Cost
• Most Industry Experts recommend that your house payments (mortgage, maintenance, taxes) should not exceed 28% of your gross monthly income.
• Secure a Pre-qualification letter from your Lender
• Once you decide your price point the next step is to secure a pre-qualification letter from a Lender
• The lender / Bank will assess your credit history, Income, and other factors to determine the maximum loan that you can qualify for
• Based on your employment they can also suggest you if you qualify for a FHA, VA or conventional loan
• Hire a Local Buyers Real Estate Agent
• An Agent can help you navigate through the complexities of home buying and bring in the local experience that is very valuable.
• A Right buyer’s agent is skilled, motivated and knowledgeable.
• A Good agent can help you with competing offers and get you value for your money
• Consider 3 Most important things in the property that you are about to buy
• For example
• Neighborhood
• School district
• Travel time / commute to work
• Single story vs 2 Story
• Amount of space your family may need
• Back yard requirements
• Study vs additional bed rooms downstairs …etc
• Avoid Bidding wars that is outside your budget
• In a competitive market with good neighborhood and good schools it is quite possible that the property that you are bidding may have multiple offer. Stick to your budget and be reasonable in offering
• Show the seller that you are serious buyer and that you love their home