BUYING

First, ask yourself how much you can afford to pay for a home. Getting a pre-approval from your lender will determine the price range of your home. You'll be able to calculate and forecast your monthly payments. Don't overspend using credit if you're thinking of purchasing a home. Your mortgage pre-approval is subject to a final evaluation of your financial situation.

Identify the qualities you want in your home. Things to consider:

• convenience for all family members
• proximity to work, school
• vulnerability to market conditions
• crime rate of neighborhood
• local transportation and local conveniences
• city plans in the neighborhood
• age of home
• square footage, bedrooms, bathrooms, finishes, maintenance, sun light

In a hot market, buyers are extremely competitive and is advantageous to the seller. Typically, during a hot market, multiple offers will be made and more often than not, homes will sell for more than the asking price. In a normal market, there is a fairly large number of homes available and an average number of buyers. In a cold market, houses may be listed for more than a year and the prices of homes may drop considerably.

As a buyer, you are entitled to know exactly what you're purchasing. Don't take anything for granted, not even what you see or what the listing agent tells you. A professional home inspection is something you MUST do, whether you are a buying an existing home or a new one. In addition, look at the foundation, exposed pipes, and condition of the sheet rock - in the bathrooms, inside of the exterior or sheer walls, ceilings, and ground floor.

It's important that you choose an experienced agent who is there for your best interests. Your agent should be actively finding you potential homes, keeping you informed of the entire process, while negotiating furiously on your behalf. After determining your needs, the search begins. You may make many offers before it getting accepted. Once your offer is accepted, we enter escrow. In this time, instructions will be provided to ensure a smooth and successful close and transaction.