IN Brentwood-Baldwin-Whitehall Summer 2018 | Page 18

INDUSTRY INSIGHT
LIFE 101
Insurance
BUYING A HOME
To get started, you need:
Money for a down payment. Most loans require 20
percent down.
Clean credit history. Pull your credit reports from all
three bureaus and check for inaccuracies.
Mortgage pre-approval. Find a mortgage lender to
help.
>> CLOSING THE SALE
Before you can officially make the house your home, you need to:
Make a “good faith” deposit, which takes
the property off the market while the sale is being
finalized.
Get a home inspection. If the inspector finds
serious issues, negotiate for repairs or a lower price.
Sign the paperwork. You should also get copies
of important documents such as your loan agreement.
Choose your desired location.
Find a real estate agent to help you.
Set your price range.
Determine “nice-to-haves” and “non-negotiables”
for your home.
Shop: Research available homes online, have your agent set
up private appointments, and visit open houses.
Make an offer (and possibly negotiate, if there’s a
counter-offer).
IMPORTANT QUESTIONS TO CONSIDER:
What are the
property taxes?
?
How are the
local schools?
What amenities are nearby—and how close do you
want to be to the grocery store, restaurants, public
transportation, etc.?
Does your budget allow
for immediate fixes?
How do you define
“move-in ready”?
ADDITIONAL ( POTENTIAL ) COSTS TO THINK ABOUT: $
Closing costs—up to 5 percent of the purchase price
Immediate repairs or cosmetic work
Larger renovations (right away or in the future)
Maintenance items (like a lawn mower and/or sprinkler for your
new yard)
724.942.0940 to advertise
Ready to buy a home? Make sure you’re
prepared with this step-by-step guide.
Have the bank schedule an appraisal to ensure
a current property value.
>> TO-DO:
16
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Pay closing costs, such as loan-origination
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