Here’s a core guide to each phase of the home buying process.
- Phase 1: Deciding If It’s The Right Time For You To Buy
- Phase 2: The Pre-Qualification Process
- Phase 3: House Hunting
- Phase 4: Negotiations
- Phase 5: Escrow, Inspections, & Underwriting
Phase Three: House Hunting
It’s important to understand that most of what you see on the internet is not the direct source of the actual listing. These third parties brokers do pull their information directly from the Multiple Listing Service at some point but they don’t update as often or display as much information as you will receive directly from the source which is monitored and updated daily.
Third party websites are marketing to entice your business. If a sold listing will keep the calls coming in, then that listing is of value and worth keeping out there. In some cases, it may have simply been forgotten in cyberspace. For the most accurate information, go to a buyer’s agent that can set you up to view live listing directly from the local listing service.
Know what you’re house hunting limitations are. Are you willing to look at distressed properties such as foreclosures or short sales? Is new home construction an option for you? Do you know what is involved in each? Discuss your options with a full time realtor that works the ever-changing market on a daily basis. Not only will they have heard many stories that you have, they and their colleagues will be experiencing it currently.
With so much information in the media everyone seems to be an economist/real estate scholar anymore. Even those that were in real estate years ago seem to remain experts although real estate markets, contracts, and loan programs change. It’s important to know their intentions are to help you but such advice may need to be taken with a grain of salt. Add that information with that of a full time buyer’s agent and loan officer. Your instincts will help you toss out the unrelated or outdated information and your realtor will be there to walk you through the current goings on.
First Time Home Buyer Secrets To A Successful Purchase