3 essential tips for the first-time homebuyer

Buying a home may seem like an intimidating process if you are a first-time homebuyer. Purchasing real estate may be the biggest transaction of your life. While it may feel scary to do this without any experience, you can succeed with some preparation.

If you organize your finances, conduct research and surround yourself with the right team, buying your first home will not be so daunting. Here is how you can be ready to seal the deal on your first house.

1. Organize your finances

It is much easier to buy a home when you preapprove yourself for a mortgage. If you want to achieve preapproval, be ready to provide financial details, including the following:

  • Credit reports
  • Bank statements
  • Proof of income
  • A list of assets and liabilities

Get these finances in order sooner rather than later.

2. Focus on what matters

When you are looking at prospective homes, it is easy to get distracted. Some homes may have décor that is not to your liking. Maybe a house has some stains on the carpet. Do not give these things much attention if they are easy to change. If the house has a functional floor plan, great location and enough bedrooms, be willing to compromise on things you can easily upgrade.

3. Get a good team

If you want to close a deal, you will need the right professionals around you. You want to make sure you have a real estate lawyer and agent to make the closing process go smoothly. An attorney has valuable licensing, liability insurance and legal knowledge. An agent will give you advice and prepare your offers for you. When you have the right people by your side, you will have a better chance of closing the deal.

Buying a home may be nerve-wracking and complicated, but you can achieve your dream of owning your own home by following the right tips.


To Our Valuable Clients:

The federal government has recently enacted legislation to assist citizens and businesses facing uncertain financial challenges due to COVID-19. We are here to help answer questions and guide you through the details of the various processes to procure financial assistance from our government. The acts are very new and more will probably be coming. But they currently provide for dollar for dollar tax credits for payroll for COVID19 related payroll, cash advances and loans that have tremendously favorable terms and in some cases, total forgiveness of the debt.

Please stay as safe as possible during this terrible crisis and if we can help you with questions about the new federal assistance laws, please contact us.

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