Top 5 Tips For Buying A New Home
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Buying a new home is a huge opportunity in which you can turn your dreams of homeownership into the reality. Having your own home means you can paint the walls with your favorite color, plant flowers and vegetables if you choose and plant the seed for an investment in your future. There are many stages involved while buying a new property e.g. finding a lender, then going shopping, making the offer, setting up inspections, getting insurance, working with a title company, and the final step closing the deal. If you are a first-time homebuyer and looking to buy a home in the next 6-12 months, you should start preparing from now.
1. Hire An Real State Agent
You can save your lots of time via hiring a good real estate agent. They will be willing to answer your questions and assist you in the process where needed. You should be able to reach your agent at any time and get the answer to your question quickly. Your agent should always be willing and able to help you. Magna Capital Group, Inc steers you in the right direction and provides all kinds of resources to make your dreams come true. For any kinds of assistance, call now at (310) 734-4044.
2. Find A Lender For Loan
Finding a lender is the most important part of buying a new home. It’s smarter to get loan preapproval in advance before buying a home. This way you know for certain how much home to buy. You can contact a lender to determine how much money you will have to spend or how much you can afford. There is no point shopping for a home if you cannot buy one. It wouldn’t be wise to look at homes over $500,000 if your lender will only loan you $275,000. It would be very disappointing to find the home of your dreams and then find out you cannot get it. So start with finding out what you will be able to finance and then you can go shopping for homes in that price range.
All lenders are not same so find one that is going to be helpful and informative to you. Your lender should provide you with information on what you are eligible for and if you are not eligible he should be able to tell you what you need to do to become eligible. Magna Capital Group, Inc is a well-known lending company in California, USA which offers various loan programs and a variety of down payment assistance programs to eligible first-time homebuyers. If you’d like to contact a Magna Capital Group, Inc, call (310) 734-4044 or visit www.magnaloans.com.
3. Find A Home to Buy
Finding the right home is not always an easy task. It can be an overwhelming process and emotionally draining. You are advised to schedule a maximum of 5 homes at a time because any more than that will make your head spin. Most of the homebuyers conduct a lot of research online before ever stepping foot in a home. Buyers spend an average of 5 to 7 weeks to figure out where they want to live. But once the neighborhood is selected, most buyers end up buying a home after 3 or 4 home tours.
4. Negotiate The Offer
Sellers can ask you any price they want, it doesn’t mean the home will sell at their required price. Your agent will provide comparable sales and examine the pending sales. Comparable sales are similar type homes in the same condition and location that have sold within the past couple of months. Pending sales will become the comparable sales by the time your home closes. You may need to pay the higher price if many buyers are interested in buying the same property. Magna Capital Group, Inc can give you a reasonable price range and help to manage your expectations. We know there is always more to an offer than its price, but the price is paramount.
5. Do A Home Inspection
There are a lot of older homes out there. You might not want to be locked into buying a home that has a faulty foundation. In some states, a home inspection is conducted before buyers make a purchase offer. In other states, a home inspection is a contract contingency. A contract contingency means a buyer has the right to cancel the contract. Sellers are generally not required to make repairs if problems are discovered during a home inspection. A home inspection is for the buyer’s edification. However, sometimes when a buyer gives a request for repair to the seller, rather than blow the deal, the seller will often agree to make a repair.
Conclusion
Buying a new home requires lots of money and time so you need proper financing method and planning to make your dream home into the reality.
Magna Capital Group, Inc offers home financing at minimum requirements. Our loan programs provide you fast funding and flexible loan terms that help you to reach your real estate goals. For more information about hard money lending, visit our website MagnaLoans.Com or call us today on (310) 734-4044 or send us an email at info@magnaloans.com