The Truth About For Sale By Owner

Welcome to The Truth About For Sale By Owner

New Home Checklist

You don't go to the grocery store without a list of what you need.

You know that you are going there for food and other necessities but the list serves as a reminder that you don't overlook something important.

This may come as a surprise to you but you should also have a home buying checklist when you are buying a new home.  A new home checklist can ensure that things go more smoothly for you.  With a buying a home checklist, you will find yourself less stressed and less paranoid about skipping over something important. 

Prior to even starting the house hunting process, sit down to put your list together.  Your house buying checklist should be based on your own wants and needs. 
 
I'd recommend consulting with someone experienced with the process of house hunting and purchasing real estate to make sure you aren't  forgetting anything.
 
I typically recommend that everyone includes these items in their home buying checklist. 

Preparation.

What monthly payment you can afford,? How much you want to afford, given your other goals? Check your credit report.  Take actions to improve your credit score. Make a house buying checklist of what you need in a home, and prioritize it in case you can't get everything.

 Town and neighborhood.

What are you looking for in a town or neighborhood? Use Internet  resources to investigate several towns, if you have a choice.  Investigate the local schools. Look at newspapers online to get a "feel" for a town.

 Loan pre-approval.

Collect your pay stubs from the last few months. Put together any recent bank statements, tax returns, and proof of other income. Go to a loan officer and ask about loan options (take notes). Get pre-approved. Make copies of your pre-approval letter to submit with offers.

 Home shopping.

Browse the listings online. Look at newspapers, real estate guides, and any other advertisements.  To get the best deals however, sometimes even up to 50% OFF, subscribe to Foreclosure Insiders Club's pre-foreclosure listings!

Home viewing.

Does it meet your requirements? How does it feel when walking through it? What is the neighborhood like? Ask the agent about problems the home may have. Write a description, so you'll remember the home after looking at others (or take photos).  Ask many questions. Use a walk-through inspection checklist, taking notes to pass on to a professional home inspector.

 Decision making.

Does the home meet your needs? Find out the appraised value, or igure the market value on your own, if you know how. Why the seller is selling? How does the house compare to others you've seen? What is the home worth to you? Ask the agent if there have been other offers. What happened with them?

 Making an offer.

Don't reveal your thoughts on possible future negotiations. Make out your earnest money check to an agency, or the real estate broker if they have an escrow account. Be clear as to what stays with the home. Specify who pays for each closing cost. Include contingencies for any inspections you'll want done.

 Home buying.

Arrange for any inspections as soon as your offer is accepted. Quickly satisfy other contingencies in the offer. Get a loan commitment. Set a closing date. Obtain home owners insurance. Get a closing statement from the title company or closing company. Once the figures are in, get the cashiers check for the closing.

Preparing to move.

Arrange for transfer of utilities to your name. Get change of address forms at the post office. Pack. Hire a moving company. Transfer any prescriptions. Get your kids registered in the new schools.

A final item for your new home checklist: Check out everything thoroughly when you arrive at your new home. It should be in the same condition as when you made the offer, with everything in working order.

Aiden Win

Mr. Foreclosure

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