8 Things You Should Know
Before submitting an offer Are you considering purchasing a home in El Paso? Are you a first time home buyer or maybe, you just have questions. The following article might help you to get started. But, first things first. Purchasing your new home in the El Paso area does not have to be a nightmare. You will find lots and lots of good "deals" out there with so many motivated home sellers that will undoubtedly impress you. Whether you are a first time home buyer or an experienced buyer, keep the following 8 tips in mind: - Get pre-approved for your home loan. I can't tell you how many times I have had the unfortunate experience of having to tell someone that they don't qualify for a home loan because there is a negative mark on their credit record that they had forgotten about.
- Know what you want - Because there are so many homes for sale in EL Paso County, you can literally spend months and months searching for your next home. Narrow down your search as much as possible.
- Do your research. We are undoubtedly in the middle of a "buyers market". As a home buyer, you have plenty of choices, choose wisely.
- Be prepared to pay for a home and termite inspection. Especially if you are going with VA financing that mandates that you send for a home and termite inspection.
- Send for a Comparative Market Analysis. Found the home that you want? Ask your REALTOR® to perform a quick market analysis of the area to see if the home is priced fairly. REMAX Associates provide this as a free service.
- Save up for your closing costs. You will need about 3% of the value of your new home in closing costs. This by the way, is negotiable.
- Work with a REALTOR®. Your real estate agent does this every week of the year and therefore, is an experienced negotiator. Put his experience to work on your behalf. What do you have to loose? As a home buyer, his services are free!
- Home buyers services for FREE. The state of Texas allows your real estate agent to ask the home seller to pay for any professional fees. Put a REMAX agent to work for you at no charge!
Bonus Tip: It shouldn't take more than a few days to find your new home. But, it does take about thirty days to get to your closing date. Plan ahead! |