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Sample Home Buying Checklist |
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Begin the application process by getting prequalified and preapproved from a mortgage lender. Do this first. Your REALTOR® will need your mortgage qualification, and it will significantly strengthen your offer when you find a home. |
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Get your financial picture in focus as soon as possible. Since it is an important component, be aware of your credit situation. You can get a free copy of your credit report at www.consumerinfo.com, or you can schedule a meeting with a credit counselor if you need some help. |
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Find a REALTOR® that you trust. It is important to do this before you go rushing off looking for homes or you may end up with no representation. Looking to find an agent? Visit www.ithacarealtors.com. You can compare backgrounds, experience and more. |
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Determine your housing needs and wants to determine what types of houses you should be considering. |
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Familiarize yourself with the various types of housing available, such as single family, townhouse or condo. Decide whether you want to buy an existing home or build a new home. |
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House hunting time! With your REALTOR®, go visit properties that meet the criteria you’ve set, then, make a scorecard for each house to help you keep track of the properties you've seen. |
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When you find an acceptable house, work with your REALTOR® to write an offer. Your REALTOR® will negotiate the best deal for you using the information you have acquired. Terms of the contract should include the sales price, closing date, acknowledgement that the sellers will furnish a good and marketable title and survey, and contingencies for financing, attorney approval, structural inspection, radon, lead paint, water tests, and septic certification, if applicable. |
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If you haven't already done so, make a mortgage loan request. |
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Arrange for a home inspection. Protect yourself and do not skip this step! Know exactly what you are purchasing and how to run the systems, what maintenance needs to be done, and if the house is structurally sound. Remember that no house is perfect, and homes are generally priced with the condition in mind. Do tests if applicable. Your REALTOR® can supply with a list of home inspectors. |
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Compare and secure homeowners insurance. Since homeowners insurance is a long term expense, getting the best deal here brings savings that continue. |
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Arrange for a closing agent or attorney. Your REALTOR® can help you make all final preparations for closing. |
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Make moving plans. If you plan to use a moving company, make comparisons and reserve time now. |
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Secure final loan approval and commitment from the lending institution. If you have done your "up-front" work, this should be one of your easiest steps. |
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Do a final walk through of the house with your REALTOR®. |
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Attend the final closing and settlement. |
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Move to your new home and begin enjoying it--you deserve it! |