Buying A Home

we'll walk you through the five basic steps buying a home :

phase 1: determine home-ownership needs 

• What type of housing should I buy? 
• How much can I afford to spend? 

phase 2: locate and evaluate a home

• Where do I want to live? 
• What aspects of the home need improvement?

phase 3: price the property

• What is an appropriate market price? 
• How much negotiation movement exists?

phase 4: obtain financing

• How much down payment is available? 
• What are current mortgage rates? 
• Can I qualify for a mortgage? 
• What type of mortgage should I get?

phase 5: close the purchase transaction

• What is the closing date ?
• What funds and documents will be needed for the closing? 
• Is everything understood before the final signing?

before putting your home on the market, make any preparations that could increase appeal and market value

• Make necessary repairs
• Paint exterior and interior areas
• Update various features (such as new carpeting or plumbing fixtures)

determine the selling price, based on

• An appraisal to estimate current market value
• The location, features, and age of the home
• Current mortgage rates and market demand in your area

decide if you will do a "sale by owner"

• Advertise your home in various media (e.g., newspapers, Internet, flyers)
• Be ready to meet and show your home to prospective buyers
• Make use of the services of a lawyer and/or title company for the legal aspects

consider using the services of a real estate agent

• Interview two or more agents to compare their services and experience
• Expect the agent to provide a marketing plan and to handle the financial and legal aspects of the sale
• Communicate with the agent on a regular basis regarding the selling price and prospective buyers

  

I wish this information can help you for buying a home. ^-^