Buying a home in Greater Hartford CT whether it's Rocky Hill real estate, Windsor real estate, East Windsor real estate, Windsor Locks real estate or elsewhere can be an emotional, time-consuming, and complex process. There are a few things that you can do to help make the process go as smooth as possible:
1. Check your credit.
Before you apply for a home loan, regardless of your credit, it's a smart idea to obtain a copy of your credit report from the three major credit bureaus and review the information. If there are errors or things that need to be addressed, it's easier to address them before you have found a house, than after you have found a house and are trying to close your loan.
If you know that there are a few blemishes on your credit, let your lender know what they are, why they are there, and why you are a still good credit risk. Lenders look at your credit to determine how likely you will pay back the loan. If you had extenuating circumstances - like a loss of a job or medical bills - let them know so that they understand that it is not likely to happen again in the future.
2. Get approved before you buy.
An approval means that a lender has reviewed your credit history, verified your assets and employment, and has approved your loan before you have found a home to purchase. As long as the home appraises for at least the purchase price, the loan should close.
Getting approved also gives you an advantage over other buyers. Your firm approval makes it easier for you to negotiate on the price of a home, than a person who is not approved or is pre-qualified.
While getting pre-qualified may sound official, it is really just getting an idea of what you can afford. Its having a person plug in a few numbers that you give them - your monthly income and your monthly debt - and getting an approximate payment calculated. From the payment, the calculator can approximate the house price range that you can afford. No information is verified. Because your assets, income or credit is not verified, a pre-qualification has little value when purchasing a home.
3. Work with me, Lisa Giller, as your buyer's agent.
Here are 15 benefits of working with a buyer's agent. I can save you time by:
1. Locating suitable properties in Greater Hartford CT that meet your needs and desires. I learn this through one-to-one discussions with you and by showing you properties and getting your feedback.
2. Previewing properties so you don’t waste your time.
3. Verifying the properties’ condition.
4. Suggesting necessary inspections by experts. I can refer multiple experts with whom I’ve done business and my clients have been satisfied.
5. Helping you determine what you can afford. I have numerous contacts for financing with some great rates and deals!
6. Verifying property taxes.
7. Verifying the value of the property. This means looking at comparable recent sales to be sure you’re getting a good deal and paying a fair price.
8. Advising you on structuring an offer. There are ways to get money back to pay for your closing costs.
9. Presenting the offer to the sellers’ representative. It’s great to have me on board so we can play “good cop, bad cop” with the seller. The listing agent (the name you see on the sign out front) won’t do this because they work for the seller…not you.
10. Negotiating favorable contract terms for the buyer. Closing dates, etc. that are favorable to YOU!
11. Explaining legal documents needed for closing and helping secure them. I work with your attorney and the seller’s attorney in handling the paperwork to assure that things go smoothly.
12. Assisting in securing financing. See #5 above.
13. Assisting you and your attorney in clarifying title, zoning, building codes, and access easements.
14. Referring you to qualified vendors if repairs, etc. are needed. I have local knowledge of and experience with all types of vendors.
15. Analyzing the future salability of the property. It’s always good to look with an eye to the future!
For the remaining 3 steps, simply download the full report and they will be emailed to you immediately! Only your email address is required; the other fields are strictly optional.