If you are purchasing your first home it need not be a scary process. Planning and working with people you trust make all the difference. There are things you should do first before you consider writing an offer.
Get pre-approved for a mortgage with a Lender. Discuss your options. What is your credit score? Is there anything you can do over the next several months to improve that number? What options are available to you? The process is not as overwhelming as it sounds. You can start the conversation on the phone; there is no need to take a day off to find these answers. Discuss your future plans with your lender to determine your best options. Consider speaking to your financial advisor or tax accountant as well so you can plan properly for your future. Discuss your short and long terms goals, tax benefits of owning, what your finances will look like if you own vs. rent. What you qualify for may be more than what you will feel comfortable paying; be careful not to overextend yourself.
Make a list of your priorities. You should do this with everyone who will be living in the house. List what you like about your current residence, how you live, your wants vs. needs. Discuss these priorities with your Realtor.
Be sure that you have selected a Realtor that you feel comfortable with. They should discuss the entire process from your list of priorities through the closing. They should provide a sample contract and be able to answer questions on the necessary paperwork and ways to structure an offer. Be honest about your needs in a home and in the business relationship that you are establishing.
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