Buying a home for the first time may be somewhat confusing. The MA first time home buyer advice below may make it less confusing. Real estate is a big financial investment and home buyers should start with as much knowledge as possible.
The First Steps
Request a Pre-approval
Interview a local lender and request a pre-approval. Different companies may offer unique alternatives. Review the options and applicable charges to determine the best option. This may help you understand the potential up-front and monthly costs of real estate ownership. This will also provide an estimation of what you can afford.
Get Help from a Real Estate Professional
Find a real estate professional to help with your property purchase. Select one that best fits your personality. Experienced Realtors can help find listings, negotiate offers, and ensure a smooth purchase. This expertise can make a big difference for first time buyers.
During the Buying Process
Property Showings
Only visit homes within your price range. This avoids the heartbreak of wanting a property that is not possible for you to purchase. Real estate showings are time consuming, so sticking to your budget will also save valuable time.
Agreements
Real estate professionals can provide information on offers and negotiating them, but they do not render legal advice. If you would like a legal opinion, look into hiring a real estate attorney to interpret legal jargon and make any necessary edits to them. Do not sign any documents that you are not completely comfortable with.
Real Estate Inspections
Do not rely on an inspection to renegotiate price or change purchase terms as they sometimes do not result in any problems at all. Also avoid negotiating known issues. Such strategies often fail and may cause you to waste the money spent on the inspection. In cases where issues are uncovered, homeowners can offer to address issues, offer monetary concessions, or be unable to offer anything. Try to be reasonable with your negotiations and sellers will be more accommodating.
Walk-Thru Before Closing
Prior to the closing, you may have the chance to view the home one more time. It is a good idea to make this after the occupants have removed their belongings. If any problems are found at this visit, you should address them before signing closing paperwork.
The Closing
Be sure to bring legal ID to the closing. Bring a bank check for any money due. Also bring a personal check in case there are any last minute changes. Once the closing paperwork is submitted to the registry, the home is yours!
Additional MA First Time Home Buyer Advice
The property real estate process can be easier with some advanced knowledge. For guidance with your real estate search and additional MA first time home buyer advice, contact Jonathan de Araujo at William Raveis Real Estate by calling 339-200-9444 or by emailing jonathansrealestate@gmail.com.
