Whether you’re trying to buy your first home or you’ve been through the process before, there are some things you should know so that you can avoid some of the “snags” that can hold things up. As Dallas Realtors we know real estate transaction can go smoothly, or there can be a glitch at every corner. Here are some tips to help ease the stress of trying to purchase a home.
Try not to overlook any deadlines. You should be keenly aware of your contract and what’s in it, especially major dates on which certain things must be completed. Sometimes it can take a couple of months after an offer is made on a home for everything to fall into place; you can imagine what all could take place in that amount of time! It’s best to have an experienced real estate agent who can help you keep on top of major deadlines.
Mortgage issues. When you’re in the home buying process you’ll want to keep your finances in order and your credit on track. While you might think you’ll have no problem getting a mortgage, it’s a good idea to talk with a few lenders so you know how much financing you will be approved for. Also get a pre-approval letter before you begin house hunting, it will make buying a home easier as most purchases are contingent on a mortgage.
Low appraisal. Lenders generally will only lend a buyer an amount up to the appraised value of a home, so if the appraisal comes in lower than the amount you offered on the home, financing can fall through. If this happens you can pay the difference out of your own pocket, try to negotiate a lower price on the home, or rearrange financing.
From a home inspection that reveals problems to title issues, things don’t always go without a hitch when you’re trying to buy a home. That said, nearly any problem can be overcome if you know how to deal with it.
At Team Nelson our DFW real estate agents help take the stress and anxiety out of the home buying process, making it a more pleasant and fun experience. Give us a call today!