Buying a home for the first time can be a bit confusing.
The Philadelphia first time home buyer guidance below can help. Real estate is a big investment and buyers should enter with as much information as possible
Preparing to Buy in Philadelphia
Find a Philadelphia Lender & Get Qualified
Speak with a few Philadelphia mortgage providers and obtain pre-approvals. The programs and options will vary from one company to another. Compare their options and closing costs to identify the best option. Starting this process ahead of time will help you understand the estimated up-front and monthly costs of home ownership. This will also define the types of real estate you will be touring in Philadelphia
Select a Real Estate Expert
Find a real estate broker in Philadelphia to guide you through the home purchase process. Interview several agents and pick one that best suits your needs. Experienced agents can help you narrow down options, prepare offers, and ensure a smooth transaction. This is particularly important to Philadelphia first time buyers
Buying Process Information
Viewing Properties
Only view properties within your price range. This avoids the disappointment of wanting a home that you cannot afford. Viewing homes can take reasonable time and energy, so staying within your range will also save valuable time
Agreements
Real estate brokers can offer guidance on contracts and negotiating them, but they may not practice law. Look into using a Philadelphia real estate attorney to navigate legal jargon and add any necessary terms. Do not sign any documents that you are not completely comfortable with.
Inspections
Inspections are not an opportunity to renegotiate price. Also stay away from negotiating obvious problems. Such strategies often fail and result in wasted money spent on the inspection. Sellers may agree to repair defects, offer to compensate you for them, or be unwilling to do anything. Maintaining a good relationship with the seller will help negotiation of issues.
Final Walk-Thru
Before the closing, you will have an opportunity to view the home. Try and make this after the seller has moved out. Resolve any problems before signing closing paperwork as completing the closing signifies your acceptance of the property and its current condition
The Closing
Be sure to bring proper identification to the closing. Bring a certified check or money order to the closing. Also bring your checkbook for any last minute changes. After the closing, the property is officially yours!
Advanced Philadelphia First Time Home Buyer Guidance
The home buying process can be much easier if you prepare in advance and keep the advice above in mind. For additional Philadelphia first time home buyer guidance, contact Diana Escobar-Wachter at Access Abstract Corporation by calling 610-461-2910 or by emailing wachterd@accessabstract.com
