If you are in the process of buying a home, you certainly do not want to run into any issues that may delay or derail the transaction. However, successfully obtaining a home is sometimes a complex process where things can go awry. Fortunately, if you follow the tips listed below, you can minimize this possibility and ensure that the purchase process goes as smoothly as possible.
1. Get pre-approved instead of pre-qualified. Some buyers make the mistake of looking for a home before they have gotten pre-approved from their lender. Doing this can cause sellers to not take your offer seriously, as it is uncertain whether you would be able to obtain financing.
2. Make a wish list. The easiest and fastest way for you to find a home is to make a list of all the features that your home must have. Prioritize the features and share the list with your real estate agent, so he or she knows what type of housing you are searching for and does not waste your time showing you unsuitable properties.
3. Watch your finances. Prior to looking for a home, set aside the funds necessary to pay for closing costs, keep current on bills, and do not make any large purchases on credit. Failing to do so can delay or hinder your ability to obtain a mortgage.
4. Expect delays. In a real estate transaction, there is a lot of moving parts. Delays often happen because of a lack of communication between the parties involved. To speed things along, respond to any requests from your agent or lender as soon as possible.
5. Get legal representation. To ensure that everything goes smoothly throughout the purchase process, consult with a real estate closing attorney. With over 50 years of experience, the attorneys at Greenberg & Wilner are well suited to guide you through the process, minimize stress and ensure that your best interests are protected.