How To Get All The Way Through The Home Buying Process

There has been several articles written expounding on how terrible the new appraisal rules are. What it comes down to, even if the rules were the best, you need to plan ahead so you can get your new home

purchased without any major problems or delays.



When a buyer decides they are ready to purchase a home, there is a logical sequence that all buyers should follow. The first step is to find a lender (not a house) you like and get pre-approved (not pre-

qualified). To be pre-approved you must apply for the loan. The lender will have all of the buyer's credit and financial information and is satisfied that the buyers are able to keep up with the house payments. The only thing the underwriter should be waiting for is a house to stick in the application. The lender will tell you how much of a house you can afford to buy. This reason you want to get approved first, is one of the hardest things to do is find a different house because you can not afford the one you really wanted.



Second step is to find a Realtor you like. If you feel the Realtor is not listening to your wants or needs (this would not be the first time), find a different Realtor. Now when you have found your Realtor have them show you some homes on the Multiple Listing Service. When they ask what kind of home you are looking for, tell them exactly what your dream home would be like. It is easier to start with a specific home and then expand out, and who knows, your dream home might be available. With all the pictures that are now available on the MLS, you will have a good idea what the house will look like. After looking at few homes select two or three that you like to see and have the Realtor run a CMA (comparative market analysis) on each home. This will give you and idea if the asking price is reasonable and if an appraisal will come in where you would like it. Once you have selected the house you want to see, have your Realtor setup an appointment to go and see it, then when you get there and there are no surprises, take you time going through the house. Make sure all of your questions are answered before putting in any offer.



Once you have an excepted offer make sure your Realtor gives the appraiser a copy of the CMA or the addresses of the comparisons they used, sometimes this is hard to do, but a good Realtor will find away to make sure the appraiser has that information. These proactive steps are usually all it takes to make the home buying process go easier with less problems.