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Video series 1: What to consider when you’re looking to buy

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Episode 1

1. Do Your Homework
  • Build good credit history and keep your debt low
  • Focus on your savings
    • Down payment
    • Closing costs
  • Attorney, inspector & application fees
  • Ask your REALTOR® what the average prices are going for based on what you had in mind.
2. Wants .vs. Needs
  • Make a list of your needs
    • Ideal monthly budget
    • Bedroom size
    • Transportation system
  • Make a list of your wants
    • Move-in ready or upgrades.
3. Speak to Your Bank
  • Know how much you can afford to borrow
    by getting pre-approved
  • Discuss what type of mortgages you
    qualify for with your loan officer
  • Confirm what the min. down payment may
    be if you are looking to purchase a coop or
    condo
4. Start looking for “The One”
  • Discuss your list, time frame and budget with your REALTOR®
  • Attend all showings prepared and focused
    • Bring your smart phone, tablet or note pad to take notes and pictures, if permissible
  • Prior to any showings your REALTOR® should have spoken to your lender to confirm est. monthly payments so no time is wasted in the case you are ready to make an offer
5. Make an Offer
  • Don’t hesitate to make an offer
    • Your REALTOR® will ensure that
      your offer is competitive but be
      prepared for a counteroffer
  • Hire a Real Estate Attorney & Inspector
    • Review all contracts prior to
      signing
    • Purchasing a coop/condo? Start
      working with your REALTOR® on your board app.
  • Maintain good credit & savings and hold off on any big purchased until well after closing
6. Closing & Life After
  • Maintain organized files and copies of all receipts
  • Set a move-in date and hire movers or plan a move party with friends
  • Get to know your neighbors & explore the area
  • If you’re happy with your REALTOR® be sure to recommend them to your family, friends, & co-workers