Welcome to Bryan Quinn’s 5-Part series on buying a home. Bryan is a buyer’s agent with The ART of Real Estate, and focuses his energy on helping to educate buyers through the home purchase process. He put together a series of tips and stories from his experiences working with both first-time and experienced homebuyers. Keep an eye out for the next part!
Buying a home can be a complicated process if you don’t know what you are doing. It can also be difficult if you decide to go at it alone. Whether you want to work with an agent or not, these are some helpful suggestions to do before buying a house.
TALK TO A LENDER
Before you start looking at homes on Zillow or want to set up a property showing, take a few minutes to have a conversation with a mortgage lender. A simple 10-minute phone conversation will save you a lot of time in the long run.
Think of it this way: If you are going shopping, you have to know your budget. Similar to shopping for a car, it is not productive to shop for a Porsche on a Honda Accord budget. You are setting yourself up for disappointment, and you haven’t even signed a contract yet. Remember, just because you have talked to one or two mortgage companies does not mean you are locked into working with them. In our South Carolina contract, it states that the buyer has five days to apply for financing after the contract is ratified. At this stage, it is best to talk to a lender and get an idea of your budget.
Keep an eye out for the second part of Bryan’s tips next week!