Real Estate purchases can often be very complex transactions. It’s very important for people who are looking to impact their finances positively in their real estate decision to buy the right property that suits their long-term needs. To prepare yourself for your real estate purchase, be sure to consider the following steps before you begin.
Commit To Staying In The Home For A Number of Years
The buying and selling of a home comes with the reality of high transaction fees, so it’s common belief that in order for their not to be an equity loss in every real estate transaction the property or real estate should be held for at least seven years. If staying in the home for at least seven years is unlikely, then perhaps the home search should continue until a better choice arises or perhaps renting would be fiscally wise.
Get Prepared In The Financing Area
Before you launch into the real estate purchasing process make sure to meet with a lender of your choice about 6 to 12 months prior and ask them to pull a credit report. Doing this ensures that you’ll fully understand your credit status. if there are any challenges you can begin the process of clearing them up before you start home searching.
Pre-Qualify If Possible
It also is recommended to have the lender pre-qualify you so you are aware of the price range you can afford. Very often the the lender will offer valuable advise in how you manage your finances during the process up until you close escrow on your home. Making large credit purchases, or transfering savings between accounts is often considered unwise. You will also be reminded to pay extra attention to paying all bills and loans you might have in a timely fashion. A derogatory mark on your credit report at this time can be very much a negative.
Haste Makes Waste
Take your time purchasing property and research thoroughly. Purchasing real estate will very likely be the largest purchase during your lifetime. After you’ve closed there is no turning back. The property is yours and if you should decide to sell soon, you will likely see some level of financial loss.
Choose The Correct Real Estate Agent
Choosing an agent that truly knows the areas you are considering, or one that can recommend an area you are unaware of but matches your aspirations is paramount. They should be able to sho wyou that they’ve been in the business at least 4 or 5 years and they have closed a number of deals successfully in each of those years. Make sure that their license is in good standing and that they respond quickly to your communication attempts. When you choose Goodwin Realty & Associates, Inc. you are choosing one of the most experienced and respected REALTORS in all of Osceola County. We understand the Osceola County Real Estate market. It’s where we live, and where we work.
With Goodwin Realty & Associates, Inc. it’s the name you trust and the company you keep!