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2014-07-17 10:13:30
First Time Home Buyer Tips
Salt Lake First Time Home Buyer Tips

Buying a home for the first time can be somewhat confusing. The Salt Lake First Time Home Buyers tips below may help. Properties are a major financial investment and buyers should start with as much knowledge as possible about Salt Lake and about buying a Salt Lake Home.

Preparing to Purchase

Find a Local Mortgage Company

Interview a local mortgage provider and ask for a pre-approval. Note that banks may offer different programs than mortgage companies. Evaluate the options and applicable charges to determine the best option. Starting this process ahead of time will help you understand the estimated up-front and recurring expenses of home ownership. This also helps determine your maximum purchase price. We recommend Doug Walker as a source of competitive Real Estate loans and information about financing homes in Salt Lake.

Select a Real Estate Broker

Find a real estate expert to help with your home purchase. Pick one that best fits your personality. Experienced Realtors will help narrow down options, negotiate contracts, and ensure a less stressful transaction. This guidance can make a big difference for first time buyers.  If you are buying a home in the Salt Lake Valley, we would like to be considered. If you are searching Tooele homes or ranches please visit our tooele real estate website.

Steps in the Buying Process

Showings

Only see listings within your budget. This avoids the disappointment of wanting a home that you cannot afford. Property visits are time consuming, so staying within your budget will also minimize wasting of time.

Agreements

Real estate brokers can provide tips on offers and negotiating them, but they do not provide legal advice. If you need a legal opinion, ask about hiring a real estate attorney to interpret terminology and add any necessary terms. Make sure that you completely understand the terms and requirements of contracts before signing them.

Property Inspections

Inspections are not intended for price re-negotiations as they may not find any problems at all. Also avoid negotiating previously disclosed issues. Such strategies often fail and result in wasted inspection costs. In situations where defects are uncovered, homeowners may offer to repair defects, give you money for them, or refuse to do nothing at all. Maintaining a civil rapport with sellers will better the chances of resolving those items.

Walk-Thru Prior to Closing

Shortly before the closing, you traditionally have an opportunity to walk thru the property one final time. It is a good idea to make this after the sellers have moved out. If any problems arise at the visit, you should negotiate them prior to completing the closing.

Closing and Settlement

Be sure to bring legal identification to the closing. Any amounts owed must be certified. Have your checkbook ready for any last minute changes. Once the closing documents are filed, the home is yours!

More Salt Lake First Time Buyers First Time Home Buyer Tips

The home buying real estate process can be easier if you maintain an introductory knowledge of what will take place. For assistance with your real estate search and more Salt Lake First Time home buyer tips, contact Gordon Sloan at Group1 Real Estate by calling 801-567-0946 or by emailing gordongroup1@msn.com.

Posted: Sunday, January 13, 2013 11:55 AM by Gordon Sloan
 
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