You want a home, and you want it now. Once you know you are ready to become a homeowner, you don't want anything to stand in your way. Unfortunately, things can drag on during the home-buying process. Take heart, though, there is a lot you can do to speed things along. Read on and learn about a few key shortcuts that will have you in a new home right now.
Know Your Prices Range
You may think you know how much you want to spend on your home, but getting pre-approved is vital. A pre-approval provides you with an accurate estimate the lender might approve of when the time comes to get a home loan. It also allows you to focus on homes in a particular price range and thus saves you from visiting homes that are too expensive (or not expensive enough).
Eliminate the Possibilities
No matter what your local home inventory is like, you are best served by making a list. Your list should include a few features that you absolutely cannot do without and a short list of things you want but don't necessarily need. For example, you might need a home that is at least 2000 square feet, has 3 bedrooms and 2 bathrooms, and is on the west side of town. You might want a pool, a large lot, and a finished basement.
Get Inside Information
Before you start attending open houses, get some professional help. Talk to a local real estate agent about your needs so that you can be informed quickly when something hits the market. Agents talk to other agents, and they might know about a home that has not been listed yet but is about to be. They may also know vital facts like why the homeowners are selling and how many offers have already been tendered.
Keep Offers Simple
If there is a single issue that makes things take longer, it's too many contingencies. Contingencies are conditions placed on a contract that must be met before the closing. If you want a fast closing, keep it as simple for the seller as possible.
Comply With Underwriting
Once your offer is accepted and you submit your loan application, you are officially in underwriting. In many cases, you are asked for more documentation to support income, bank accounts, employment, and more. Save time by assembling the last several years of tax returns, bank statements, pay statements, and other financial paperwork ahead of time.
Your real estate agent has more shortcuts to help you get into that new home in a hurry so speak to a local agent today about residential properties for sale.