Here is some helpful information as you start the home-buying process:

Talk to multiple mortgage brokers because rates, qualifications, and programs vary from one company to another. Get recommendations from friends and family, then call to see what they can offer you and make sure you are comfortable with the person you talk to. Mortgage lenders take into account things like income, monthly debts, down payment, and loan factors like the interest rate, length of the loan, and estimated taxes when calculating how much they will lend to a given borrower. When you apply for your mortgage, your mortgage broker will provide you with a Good Faith Loan Estimate of what fees you should expect. Key Mortgage is an affiliate of Baird & Warner.

Make a list of your priorities, then rank them from most to least important and share this list with your agent. You need to spend time searching for the perfect home, and only you can decide which property is right for you. You can do a great deal of your house hunting online. Our Zenlist  program allows you to filter results by important features, location, and price that will streamline your search, and when your needs change, you can adjust your search.

Where and what to buy

When researching neighborhoods, it's crucial to delve deep. Identify the amenities that are important to you, such as schools and entertainment options. Testing the commute to work during rush hour and evaluating the ease of getting to non-work activities will give you a realistic view of day-to-day life in the area.

 

Consider the pros and cons of different types of homes. While a condominium or town home might be more affordable than a single-family home, keep in mind that shared walls with neighbors mean less privacy. If you're considering condos and town homes, don't forget to budget for homeowners association fees. To assist you in comparing different properties, we offer a free  Property Comparison Tool. This tool allows you to compare real estate taxes, association fees, down payments, and interest rates to show you monthly payments for the properties you are considering.

 

Another option to consider is buying a fixer-upper, a home in need of updates or repairs. Fixer-uppers typically sell for less per square foot than move-in ready homes. However, it's essential to budget extra time and money for repairs and remodeling.

Attention to details after the sales contract

To ensure a smooth closing, there are a few key steps you'll need to take. First, you should hire a real estate attorney, finalize your mortgage company, and schedule a home inspection as soon as possible. Your attorney and mortgage broker will need certain documents to ensure everything closes smoothly. We will work with the seller's agent to make sure these are delivered to you.
 
If you are buying a property with rules and regulations, please read those carefully to ensure you are comfortable with any restrictions. Your attorney will also conduct a title search to verify that the seller is the sole legal owner of the property.
 
Even if the home seems flawless, it's crucial to have a professional home inspection to assess the property's quality, safety, and overall condition. A good inspector can provide insights into the property's condition and suggest future maintenance. If the inspection uncovers serious, undisclosed defects, you can typically rescind your offer and reclaim your earnest money. Alternatively, you can negotiate with the seller to make repairs or reduce the selling price.
 
Finally, conduct a final walk-through before closing. Check that the seller has removed all personal belongings, inspect any completed repairs (if requested), and confirm that the property's condition matches what it was when you made the offer. It's also wise to double-check all the home's systems to ensure they are functioning correctly.

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