Posts Tagged: Buying Home

Tips for Buying Your First Home and Mistakes to Avoid

Lonely Planet - USA


Buying a house for the first time can be quite a tricky affair for a person that isn’t well prepared. There are many things that they need to look at before buying the house. There are the finances, the house, the documentation, the legal aspect of things, the state, and a whole lot of other things. In this article, we are going to look at some tips for buying your first home, and mistakes to avoid.

Hire an Agent

If you’re totally green when it comes to buying a home, it would be a great idea for you to hire an agent. They will save you time, and they also come with some valuable information regarding properties. Below are some of the things that the agent can do for you:

  • An agent can send you listings directly from MLS that are you your expectations, saving you a ton of time.
  • Agents often know of new listings coming up that are not yet on the market.
  • You get to tour the properties using the agents gas.
  • Some agents will preview homes for you.
  • An agent can generally spot overpriced listings and advise you accordingly.

Find a Home to Buy

You should check out at least 7 homes, since checking out too many homes could leave you confused. You can do your research online as you identify the right neighborhood, and once that is done, it won’t be too hard to identify the house that you want.

Get a Loan

It is important for you to get finances, and one of the best ways of doing so is through getting a preapproved loan so that you know exactly how much you’re willing to spend on the house.

Negotiate the Offer

It is always good to negotiate the price of the house, and that is because some sellers could ask for unreasonable prices. This is where an agent could come in handy because they know the actual value of the homes.

Do a Home Inspection

Inspect the home to make sure that it meets your requirements.

Lakeside Residences a New Multi-Phase High-Rise Residential Development Project

Now that we are on the issue of buying houses, we might as well take a look at Lakeside Residences, an upcoming residential development project. The Lakeside Condos are located in its pre-construction stage, located on a 3.8-acre piece of land in Toronto’s East Bayfront area. It features three towers in the first phase, with a total of eight buildings with two striking towers when completed. It is expected to be completed and ready for occupancy in 2020. Currently there is no final tally as to how many suites the whole development project will have, nor amount of commercial or public space info is still available. The developer of the project is Greenland Group, the architect Hariri Pontarini Architects. The building comes in condos and retail types.

Summary

It is every person’s dream to own a home for their family, although the dream can sometimes seem far-fetched. Planning early for the home is the best way that one can save for it and actually attain the dream.…

You Don’t Have to Cancel Your Travel Plans to Buy a Home

If you are planning an international vacation to the United States, the process has likely been in motion for some time. And if the right time to buy a home happens to come up during that window, it may feel as though you have to choose one or the other to pursue. Luckily, that isn’t the case.

What many people don’t realize is that the home buying process can be a lot of hurry up and wait. Parts of it will move with resounding speed and others feel as though they drag on for an eternity. With that fact in mind, it is possible to take a vacation to the United States while you work on buying a home. The trick is in the timing.

Starting the Home Buying Process

A home purchase has multiple parts. Some of those pieces take more time than others. For example, getting approved for a mortgage rarely happens overnight. Even if you have all of the documents needed to go forward, it can take days, if not weeks, to have everything reviewed by the right people.

So, if you are working on your approval while heading out on vacation, you shouldn’t run into notable issues. Just make sure all of your documents have been provided, and keep scanned copies available to email if needed. Then, if a document gets misplaced, you can send another copy without disrupting your other plans. It isn’t uncommon to find mortgage brokers that can be contacted online or via email, including options like mortgagebroker247.com.au.

You Don’t Have to Cancel Your Travel Plans to Buy a Home

Touring Properties

In most cases, you will want to tour properties in person. This is one phase that is difficult to complete while you are out of the country. However, just because you have your mortgage approval in place, that doesn’t mean you have to start touring homes that day. If you are going to be gone on vacation for a week, feel free to wait to start looking at houses. You can also take a break from house hunting to go on vacation, and start again when you return.

All you need to do is work with your chosen real estate professional and let them know when you will or won’t be available. They can keep an eye on the market for you and schedule tours when you are ready.

Placing Offers

If you find a suitable home to purchase, you will need to submit an offer. Often, this process is completed in conjunction with your real estate professional. They will create the required forms, and you will sign off on the offer being submitted. In some cases, this can be done online. Whether it is through electronic signature systems or by printing, signing, scanning, and returning the documents, you might not have to be physically available to keep this moving forward.

Before you submit an offer, if you have an upcoming vacation, speak with your real estate professional regarding your available options. They can let you know if you have a way to continue this process even if you can’t hand-sign documents at their office.

Inspections and Appraisals

Most people want to be present for property inspections, as it gives you the opportunity to ask the inspector questions. However, being present isn’t a requirement. You can appoint someone to monitor the process for you, and this may be a service your real estate professional offers. Once everything is complete, you can access the final report for information.

Normally, you will not be present for appraisals. That means being on vacation while this takes place is irrelevant.

Closing

Once everything else is arranged, you are simply waiting to close. Your closing date will be scheduled, so you will know in advance where you have to be and when. As long as you will be available that day, you can be gone on vacation before or after that point.

As you can see, there are a lot of times where being on vacation and buying a home can happen simultaneously. So don’t let one activity stop you from doing the other.…

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