The Mortgage Process: Part 2, The Search
Now that you’ve taken your first step toward homeownership and have met with a Mortgage Consultant to better understand how much you are approved to spend on a home, it’s time to move onto the more exciting step two… SHOPPING! In this article we’ll cover how to get ready to shop for a home, beginning the home search process and some tips and tricks we have learned over the years supporting our clients.
Finding a Realtor
If this is your first buying experience, you might not have a Realtor on speed dial. That’s okay! But don’t overlook the importance of finding the right Realtor for you. A good Realtor will have extensive market knowledge, access to new and coming soon listings and connections that may be able to help you in this tight inventory market. So how do you find THE Realtor to work with? There is no shortage of qualified Realtors, however, make sure you are asking the right questions to make sure this partner is able to fulfill the goals you have set. Make sure to check their social media and website for clues regarding how active they are in the current market. Also, don’t forget to talk to your Mortgage Consultant at Cambria Mortgage for a referral! Since our Mortgage Consultants are local and have worked with many agents through the years they will be able to provide you with some great connections to amazing Realtors.
Build Your List
Before you hop online and start looking at listings, it is important to narrow down some search criteria so that you are honing in on homes that fit your needs. Since you have already gone through the pre-approval process you will know your budget, but searching for a home entails much more than just the price tag. How many bedrooms are you looking for? Bathrooms? Unfinished basement? Central air? We highly recommend you sit down and make a list of your must-haves as well as your would-likes before you look at any actual properties. Your must-haves should include things that would be very difficult to change about the home, such as square footage and the location. Your would-like list can have things that would be nice to get right away, but could potentially be added down the road, like a farmhouse sink or Cambria Quartz Countertops. Once you have a well defined list, it is time to get searching!
The Search is On
Once you and your Realtor are on the same page with your must-have list, it is time to get out in the market! These days sites like Zillow, Redfin, Trulia and others offer home listings at your fingertips, however, there is nothing like getting out and actually viewing the property. That 2-story you were dreaming about? Maybe when you actually walk the floor plan it changes your opinion. Actually seeing some properties up close and walking floor plans in real time will give you even better insight into how the home will flow and function for you and your lifestyle.
Making an Offer They Can’t Refuse
Found “the one”? Now is when your preparation pays off. Once you have found the house you want to purchase, having your pre-approval from Cambria Mortgage in hand is going to keep you at the top of the pile in multiple offer situations. What else can help in this tight market? Your Realtor will assist you in coming in with a strong offer and may suggest extras to add in alongside it like a letter to the seller telling them what purchasing their home will mean to you and your future. Sometimes with similar offers it is the personal touch that can sway the seller’s choice in choosing you as a buyer.
Purchasing a new home is an exciting time and Cambria Mortgage is proud to be by your side every step of the way. Let us help you make your home buying experience a smooth and successful one; call us today at 952-942-0110 or visit our website to get started!