505life BUYING PROCESS

Step 1, Get Your Finances in Order

Your credit reports are an ongoing look at how you manage your finances. You should know what your credit reports say about your financial history when applying for a mortgage, because the reports can play an important role in the mortgage approval process and in determining the interest rate and other loan terms that a lender offers you.

If you haven't looked at your credit reports, you might be surprised at their contents, because errors are common.

Step 2, The Mortgage Industry

Finding the right loan and lender is crucial to your home buying success. It's up to you to determine which lender is best for your needs. You are free to use who you want but I can always recommend a loan specialist I think you'll really like.

Step 3, Get Pre-Approved for a Mortgage

Do you know how much house you can afford? Probably not, unless you've talked with a lender.

Pre-approval helps you in other ways. Consider this scenario. A home seller gets two similar offers. One is accompanied by a letter from the buyer's lender that states she is pre-approved for a mortgage in the amount of the offer. The other has no supporting documents. Which offer do you think the seller will consider first?

Once I know what you've been pre-approved for, I can better help you get started!

Price Range

• Have you been pre-qualified for a loan? I can help. I have loan specialist on my team which will get you qualified with a home loan that fits your needs. Ask me and I can set an appointment for you. click here

Step 4, Determine Your Wants and Needs

Buying a home isn't as difficult as you might think, but the process will go a lot smoother if you narrow down your wants and needs before you start looking at houses.

• Search the maps - from below, click on a link and from the map, choose which Area # (s) you would like us to search for you.
  • Albuquerque and Central Bernalillo County
  • Rio Rancho and Southern Sandoval County
  • East Mountain Area and Estancia Basin
  • Valencia County
• Type of home: Detatched, Manufactured, Attatched
• Approximate Square Footage
• Bedrooms / Baths
• Other (special) requirements.

Step 5, Working with Me

As your REALTOR, I will work to help you find the best home that meets your requirements. I will explain to you my agent duties and help you towards your home purchase.

Step 6, Start Searching for a Home

As your REALTOR, I will both search for homes for you and provide you with ways to search on your own. I'm sure you'll also pick up Homes For Sale magazines and read classified ads in your local newspapers. You'll probably spend time surfing the Internet for homes. You might even plan afternoon drives to preview neighborhoods.

Don't worry, I am here to make things easy. I will constantly provide you with all the latest information on new homes for sale and will guide you through the home buying process!

Step 7, Make an Offer

Once we find the home you want, we will make an offer on it. Once again, no worries. I will take care of all the paper work and explain it to you.

Upon acceptance of an offer we will continue to Step 8.

Another scenario that may occur is a counter offer will be presented back to us. This is basically stating the current owner of the home would like to offer you a different proposal of the offer submitted (many times this may be a change in the price we offered or who pays for certain costs associated with the transaction.)

If the offer is not accepted we have the choice to either write another offer with different terms or we can move along and search for other home.

Step 8, Home Inspections and Other Tests

I will make sure all home inspections are accomplished prior to closing.

As your REALTOR, I will advise you how inspections should be handled and if additional types of testing are important for your specific area.

Step 9, Avoiding Any Last Minute Problems

As your closing date nears, I will make sure everyone involved in your real estate transaction has everything they need and is on its way to completion. Staying on top of things means you'll know immediately if there's a problem that must be dealt with.

I know your excited by now about your new home purchase but do not rush into buying anything for your new home. Especially any expensive products you would have to charge on your credit card. WHY? Because this could jeapordize your loan which could mean you would no longer qualify for the home you are in the middle of purchasing. Make all big purchases after closing.

Step 10, You're on the Way to Closing

Your home buying jitters are behind you now and you're on your way to closing, also called settlement, the event that transfers ownership of the property to you. I will be here with you to make sure everything is in place!

CONGRATS!

You are in your new home!

Remember that I am here to make this process smooth easy and care free. Contact me today!