Many people ask me what they need to do to begin their home buying process. Here are three basic steps which you can do concurrently. The important thing is to get going a few months before your want to relocate.

Get Your Financials In Order.

If you are purchasing your new home in conjunction with a loan, connect with either a mortgage broker, a mortgage bank, a private lending institution such as a bank, or a government-backed lender such as the Department of Veterans Affairs or the Federal Housing Administration. There are many types of loans available for a variety of different types of needs.

Once you’ve determined what type of loan is best for your individual situation and how much funding you can qualify for, ask your lender to prepare a pre-qualification letter.

A pre-qualification letter and a down payment will put you in a position to make an offer on a home as soon as you’ve found one. Generally speaking, a pre-qualification letter should be dated within three months of your offer date. A more current letter is preferable and can be key to closing a deal.

Research, Research, Research.

This is the fun part, although exhausting. You’ll probably do best to consider a few towns or neighborhoods at the beginning. After you’ve looked at available properties online and have attended as many open houses as you can tolerate, you’ll get a feel for the types of properties (i.e. detached homes, town houses, condos, etc.) and neighborhoods you prefer…and can afford. School performance, Crime statistics and recreation options can easily be researched online.

Take the time to understand the loan type, requirements and home buying process.

This is a significant purchase and you don’t want any surprises.

Find A Local Area Realtor You Trust.

This is very important because although you can search online and look at property during open houses, a local Realtor knows about specific geographical value trends, neighborhoods that match your criteria, insight into properties coming onto market, they can help you understand the condition of the property, and interpret various inspection reports and legal disclosures sellers. In the State of California, Realtors have fiduciary responsibility for real estate sales and purchases, in other states attorneys handle real estate transactions. Your Realtor can assist you in the home buying process from finding the right home to the legal contract process. Look for someone with integrity and that can be trusted to be on your side.

Give us a call when you’re ready to dig in!