First time home buyer – what you need to know.
As a first time home buyer, it is important to know what to expect once you start the process of buying your first new home.
We, The Lawhead Team, like to make the home buying process for our clients as smooth and easy at all possible. As a first time home buyer it is important to take time to educate yourself on what you will need to know as you step into the process.
We came across an article from the Union Tribune which touches on 6 tips for first time home buyers in the San Diego County. This article is written by one of the Union Tribune writers, Lily Leung.
Here are a few pointers I picked up at a first time home buyer workshop hosted by the San Diego Association of Realtors, or SDAR, over the weekend:
1) Consider hiring a real estate agent as a first time home buyer. Interview several candidates and make sure to ask them lots of questions. You’ll be sharing personal and financial details with your chosen Realtor, so make sure you choose someone you’re “very, very comfortable with,” said SDAR vice president Leslie Kilpatrick.
2) Don’t just take their word for it. Ask real estate agents for their resumes. Google them and nail down their web presence. And most importantly, find out if they’ve ever been disciplined.
3) Do the same kind of research when looking for a lender as a first time home buyer. Again, ask for resumes, references, and see if they have an active online presence.
4) When submitting offers, consider adding a cover letter that explains why you want the buy the home and even family photos as a nice, personal touch, Kilpatrick said.
5) Realtors who routinely attend caravans are a plus. Caravans are regular meetings where agents discuss clients’ wants and needs in hopes of getting them met. At times, agents learn about listing changes even before they hit the Multiple Listing Service, or MLS.
6) While you’re waiting for a home to close as a first time home buyer, try to not to move money around a lot because you will have to document the entire paper trail, said John Medin, vice president of mortgage lending with Guaranteed Rate. That documentation can be a pain and could delay you from closing.
Are you a first time home buyer looking for a home? Please call us, The Lawhead Team, Because Two Lawheads Are Better Than OneTM.
