Buying a Home | Where do I begin?

First Call

Your first call should be to your mother when you are thinking of buying a house, after all, Mom knows best. If you don’t have a mother, feel free to use an uncle or a friend. I guarantee they will have an experience or a story from a friend and they will inform you of all the details when buying house.

Kidding! Although your friends and family will be quick to give advice — some of it very helpful — you want to start by calling a real estate agent that you trust. Maybe they have been referred to you by someone you know, or they have proved themselves to be an expert on the process of home buying and the area you are looking to move. Good agents will be ready to walk you through each step of the process, including what to do, where to look, what to observe, and how much you can afford.

Get Prequalified

Sometimes, before the agent, you may talk to a mortgage broker or bank to get an idea of how much house you can afford. If that isn’t your first call, most likely it will be the first one your real estate agent will suggest you make. Many things are taken into consideration for your financial qualifications in purchasing a home. To get prequalified, a free interview, you can plan to spend about 20 minutes on the phone sharing your income, debts, assets, liabilties, social security numbers, etc. The broker will help you determine how much you can afford based on your budget and your loan to debt ratios. When you buy a home, you are talking about a very large investment. Make sure the lender is experienced and has successfully closed transactions with someone you know! Your real estate agent may have list of lenders whom they have worked with successfully.

Looking at Homes

The Kim Wood Team agents do ask that everyone be pre-qualified before we take you look for homes. Why? Although it can be fun to go look at houses, we have an obligation to only bring potential buyers into properties. Sellers expect when they list their home with any agent/company, that the Buyers’ Agents are only bringing in people that are qualified to purchase their home.

Contact

If you would like to sit down and walk through this process further, or talk to us to get you started in the right direction, with no obligation, Kim, Tom, Sandy and John are available electronically (video conferencing, instant messaging, email) or in person (at one of our offices in West Chester, Paoli, or Kimberton – or any local spot). 610-692-6823 direct or 610-692-2228 receptionist – ask for The Kim Wood Team.

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