Buyer’s Preliminary Check List

You might know for sure what to consider when looking for a home: how many rooms you need, what neighborhood should be like, what the preferable area is, the price and so on. Still, there are some very important, but hidden issues to look out for.  Now, when after a hard and maybe a long journey you’ve found your dream home, take your time to teach yourself how you should breeze through the main buying process. Make sure to have printed our Home Inspection Checklist as well.

Here we go.

Find the best kind of home for you: Do a little homework to finally decide what type of home you want. Choose the best neighborhood and get to know the most important features of your new home.

The Location: Check if the home location is a convenient distance to supermarkets, schools, your office, hospitals, parks, entertainment, highways, and public transport. These are things you’ll deal with almost every day. So be careful and check each.

Be smart and bid smartly: Know the comparable homes in the area to help you to offer the best price.

Try to get a home warranty: It may cost a seller somewhere $400 and will cover the cost for major repairs for at least a year depending on homeowner current contracts.

Be patient with the mortgage: Ask your friends, family members or your realtor for a recommendation where and how to get referrals. Then be sure to calculate the down payment and all closing costs. Know if there is an option for you to pay upfront for a lower rate.

Don’t escape the home inspection: Find and print the checklist mentioned above.

The final walk-through: Check all in details. Have a look at appliances that are left and make sure they are all in good working condition. Check for mold and water on ceilings, central boiler, electrics.

Smart Features: These so popular today and sellers know how important they are for buyers and for their home price. So check all smoke detectors, smart thermostats, heating, and cooling systems.     

Check also: Doors, windows, roof, attic, damp and drains.

Exterior and backyard: Have a close look at the home exterior appearance and condition including fence, patio and yard space.

Up-front and other costs: Know how much you can spend. Calculate all costs and add them to the monthly mortgage payments. Some of the major costs included property insurance, initial deposit, legal fees, moving expenses, renovation costs and some other costs that you do not know yet, so be prepared.  

Make sure you have an experienced real estate lawyer to help you navigate your contract with a seller.

By: Hermine Aslanyan

Additional Valuable Resources: 

Home Inspections: The Buyer’s Advantage Before Reaching the Closing Table by Debbie Drummond

How Long Does it Take to Look For A Home and Shop for a Loan by Anita Clark

…Did I Miss Something? What Would You Add?

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One thought on “Buyer’s Preliminary Check List

  1. A Real Estate attorney is not really necessary. That’s what a good Realtor is for. Not only do they know the documents and the negotiation process, they also know neighborhoods, schools, shopping, finding a great mortgage and other amenities.

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