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Where To Start: A First Time Home Buyer’s Guide

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Too many times the home buying process starts with someone falling in love with a house. You know how it goes – an accidental wrong turn onto a new street with charming homes and a FOR SALE sign in the yard. All of a sudden, there is an overwhelming desire to buy that house, right now or at least as soon as possible before someone else snaps it up.  So, a panicked text is sent asking for names of good REALTORS who can answer the bazillion questions that just popped up. There’s a flurry of activity as financial records are pulled, closets are cleaned and home decorating magazines are purchased. 

It’s true that home sales have gone through with these kind of sudden starts, but not very often. So, let’s back up and take a look at what’s really important before starting the exciting and rewarding process of buying a home. Consider this a first time home buyer’s guide to reference prior to making an offer.

  1. Be sure you are ready – Daydreaming about more space, no more rent or a bigger yard does not necessarily mean it’s time to buy a house. Here are some more concrete signs it’s the right step to take.
  2. Find a real estate agent – Yes, you need one. Especially now, especially in the Nashville real estate market. Why? Because real estate agents have experience and knowledge in the market, pricing, negotiating, and networking. Not to mention they are pros at keeping clients calm during this emotional time. Here’s how to find the right agent for you by asking the right questions.
  3. Find financing – It’s very important to find the right financing before you start the home search. Be sure to work with a trusted mortgage expert who can guide you through the pre-approval process, explain the various types of mortgages and help you establish a price range. More thoughts on working with an experienced mortgage specialist.
  4. Find a house – Once you feel confident in your agent and mortgage specialist, then start to actively search for a home. Be sure you have a priority list before you begin viewing homes and remember to stay open to options outside of your initial search too. Many satisfied home owners find they love living in homes that would not have originally made their search list. Also, here’s what to do when you fall in love with a house but don’t wind up getting it.
  5. Start negotiations – Your agent will help you with making an initial offer, handling a bidding war and making sure you don’t overpay for your home.
  6. Make it to closing – If your offer is accepted and a closing date set, you are almost there….but don’t forget the home inspection and appraisal!

Are you ready to start the home buying process? Don’t let it overwhelm you – call DeSelms Real Estate today at 615.550.5565 and let our award winning agents help you make that dream come true!

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Our agents write often to give you the latest insights on owning a home or property in the local area.