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  • Writer's picturemhpaugusta

Quick Tips for Buying a Home🏡🙌

Last week I focused on what a seller could do to quickly increase the time in which it takes to sell a home. This week, I thought I’d share some helpful tips for those preparing to buy a home.

Specifically, what are some quick tips to help a buyer move forward with the purchasing side of a real

estate transaction?

The quickest thing I can advise that you do is locate, or always have these basic documents available, in a folder on your computer, or paper copies if you hold paper files instead of the digital type: your last couple years of W-2s or 1099s, your last two years of tax returns, your last two bank statements and your most recent pay stubs. All mortgage lenders will ask you for these documents when they process your mortgage loan.

A mortgage will most likely require more things than this when you actually find a home, but these

documents will be needed to get your loan qualification started.

The next thing I can recommend is to pay down your credit card debt several months before you start the buying process. If you have items in collections, you need to pay these off months early as well. Doing these two things will maximize your credit score and make things move along smoothly.

While discussing the credit and money side of things, I’d recommend you not open or close any credit accounts, and avoid large purchases. Mortgage lenders have to verify and follow paper trails so avoid

cash deposits or withdrawals from your accounts because these are hard to document.

My last quick tip for buyers would be to set aside your “wish” list and write out your “need” list.

Remember, things worth having are rarely easy to achieve, and the biggest reward of homeownership is the freedom of owning a home, and equity that grows over time.

Having clear direction of what you need and setting a side the unrealistic expectations of getting everything you want will provide you with a much more enjoyable experience.

On a final note, never choose a home to fit your current furniture. That just makes us realtors crazy!

Happy house hunting.

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