Real Estate Buyer ChecklistsThe four checklists that follow are intended to give you a good start on your buying process. I am always available by phone at 708-494-2378 or you can email me if you have questions or would like to make an appointment. You can count on me to get back to you right away. You can find out more about how I work with you as a buyer on my For Buyers page. Checklists For Real Estate Buyers
Prioritize each of these options into Must have Would prefer Yard (at least_________)
A Note About Prorations: Because such costs are usually paid
on either a monthly or yearly basis, you might have to pay a
bill for services used by the sellers before they moved.
Proration is a way for the sellers to pay you back or for you
to pay them for bills they may have paid in advance. For
example, the gas company usually sends a bill each month for
the gas used during the previous month. But assume you buy the
home on the 6th of the month. You would owe the gas company for
only the days from the 6th to the end for the month. The seller
would owe for the first five days. The bill would be prorated
for the number of days in the month, and then each person would
be responsible for the days of his or her ownership. 2. Remember, there’s no “right” time to buy, any more than there’s a right time to sell. If you find a home now, don’t try to second-guess the interest rates or the housing market by waiting. Changes don’t usually occur fast enough to make that much difference in price, and a good home won’t stay on the market long. 3. Don’t ask for too many opinions. It’s natural to want reassurance for such a big decision, but too many ideas will make it much harder to make a decision. 4. Accept that no house is ever perfect. Focus in on the things that are most important to you and let the minor ones go. 5. Don’t try to be a killer negotiator. Negotiation is definitely a part of the real estate process, but trying to "win" by getting an extra-low price may lose you the home you love. 6. Remember your home doesn’t exist in a vacuum. Don’t get so caught up in the physical aspects of the house itself-room size, kitchen-that you forget such issues as amenities, noise level, etc., that have a big impact on what it’s like to live in your new home. 7. Don’t wait until you’ve found a home and made an offer to get approved for a mortgage, investigate insurance availability, and consider a schedule for moving. Presenting an offer contingent on a lot of unresolved issues will make your bid much less attractive to sellers. 8. Factor in maintenance and repair costs in your post-homebuying budget. Even if you buy a new home, there will be some costs. Don’t leave yourself short and let your home deteriorate. 9. Accept that a little buyer’s remorse is inevitable and will probably pass. Buying a home, especially for the first time, is a big commitment, but it also yields big benefits. 10. Choose a home first because you love it; then think about appreciation. While U.S. homes have appreciated an average of 5.4 percent annually from 1998 to 2002, a home’s most important role is as a comfortable, safe place to live. Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®Copyright 2005. All rights reserved. www.REALTOR.org/realtormag 10 Things a Lender Needs From You 1. W-2 forms or business tax return forms if you’re self-employed for the last two or three years for every person signing the loan. 2. Copies of one or more months of pay stubs from every person signing the loan. 3. Copies of two to four months of bank or credit union statements for both checking and savings accounts. 4. Copies of personal tax forms for the last two to three years. 5. Copies of brokerage account statements for two to four months, as well as a list of any other major assets of value, e.g., a boat, RV, or stocks or bonds not held in a brokerage account. 6. Copies of your most recent 401(k) or other retirement account statement. 7. Documentation to verify additional income, such as child support, pension, etc. 8. Account numbers of all your credit cards and the amounts of any outstanding balances. 9. Lender, loan number, and amount owed on other installment loans-student loans, car loans, etc. 10. Addresses where you lived for the last five to seven years, with names of landlords, if appropriate. Reprinted from REALTOR® Magazine Online by permission of the NATIONAL ASSOCIATION OF REALTORS®Copyright 2005. All rights reserved. www.REALTOR.org/realtor |
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JEFF CLARK |
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Coldwell Banker
Residential Brokerage |
