If you're preparing to buy a home, you've likely encountered more than one checklist for buying. House hunting is only the beginning of the process, and it's important not forget any crucial steps along the way.
While homebuyer checklists can seem long and overwhelming, there are a few key points to focus on. Here are three things to pay special attention to when making your own checklist for buying a house:
The first important step in finding your next home is speaking with a mortgage company. The lender will do a thorough investigation of your financial profile, including metrics like debt to income ratio (DTI) and your credit report. If you meet the criteria for approval, you'll get a preapproval letter from the lender.
However, it is important to remember that approval letters will not necessarily mean a commitment to any lender. You still have the option to shop around to find the best mortgage lender for your situation.
The next stage is scheduling professional visits to the home to determine a fair purchase price. Home inspectors will make sure the structure of the home is up to code. Your inspector will test your electrical and plumbing system and will send you the detailed reports.
There may be additional charges or separate inspections required to detect presence of radon or mold during inspection. While home inspections are not always required, they are highly recommended, as they can help prevent hidden issues which can affect your home values in the future.
A real estate lawyer is another excellent professional to have on your team. The homebuying process includes complicated legal forms and jargon, which an attorney can help you understand and give you advice. They can assist you throughout the process and go over any official documents such as contracts of sale and title documents for any missing info.
For an even smoother process, many experts recommend shopping for a mortgage broker and clearing up any issues with credit scores long before you begin house hunting. However, once you find your dream home, these key tips will help you have a successful buying experience.
Ryan Mandigo is an award-winning professional broker associate with Omni Real Estate. Originally a native of New Hampshire, his love of real estate began 30+ years ago while swinging a hammer on a framing crew. He has always had a strong passion for helping people, whether it be assisting a couple in purchasing their first home, finding a home that fits a growing family's needs, or downsizing for those with an empty nest. He strives to build strong personal and professional relationships with being a true believer in the power of positive thinking and always willing to lend a helping hand.
He is also a co-founder and board member of the Swing Fore the Kids organization. A local charity that is 100% nonprofit and their sole purpose is to help needy children and young adults within Horry County communities. He finds great satisfaction and pleasure in seeing how working hard for a great cause and raising funds can help others in need. He is also on the Board of Directors for the Waccamaw Youth Center in Conway, where their mission is to provide at-risk youth "A Place To Call Home"
When he is not working, he enjoys music, working around the home, spending time with family and friends, turning wrenches on vintage vehicles, getting some wind therapy on the Harley or chilling with their dogs.
Some quotes he lives by - "Do what you like and like what you do" - "You have to be odd to be number one" - "Dreams don't work unless you do" And one of his favorites. "Positive and enthusiastic thinking in all you do"