Home Buying 101: Looking At Homes
Figure out your needs
Monthly cost of owning a home
Ideal Neighborhood
Financing Your Purchase
The FHA Mortgage
The Conventional Mortgage
The Adjustable Rate Mortgage
Department Of Veterans Affairs Mortgage
Pre-Qualified vs Pre-ApprovalPhase 2: Looking
Types of homes
Single Family Homes
Town Homes
Condominium
Twin Homes
Multi-Family Homes
Types of sellers
Traditional
Short Sale
Foreclosed
Researching A Home’s Public Information
Phase 3: Buying
Making an offer that counts
The Purchase Agreement
Buyer Letter to Seller
Inspections: Why get one?
Radon Testing
Sewer Line Scope Inspection
Fireplace Chimney Inspection
Mechanicals
Phase 4: Closing
Closing Costs Explained
Title Work
Appraisals
Underwriting
Utility Bills
Preparing for the Closing
The Closing
Tours of Homes
A great way to see a number of houses is to tour several houses at once. I usually try to show 6-8 houses that you really like on a tour of homes, along with a couple that I might throw in. With this, expect to spend 2-3 hours looking at 6-8 homes in a similar geographic area. I usually provide you with printouts of each house so that you can take notes on each house. This is a great way to see a good number of houses up close. I generally like to show about 6-8 homes at a time because if we look at more than 8 houses, it’s hard to remember each home. Be sure to take notes in each home we visit. Use the sheets we provide to serve as a reminder about that specific home.
Showings
Once we have gone through the bulk of your favorite homes list, we will be waiting for the one or two homes that show up each day. If you spot one specific home that really catches your eye, please let me know immediately. I can usually schedule a showing within 24 hours, oftentimes, on the same day.
Open Houses
When visiting an open house, you should be careful about what you say and how you sign in. Keep in mind that the agent holding the open house represents the SELLER. They are obligated to tell the seller everything you say. This may not be a good thing for you because if you want to make an offer, the seller may already know some of your cards. Giving away some of your cards is like showing your hand in poker.
- Feel free to visit open houses. Remember that you can always ask me to schedule a private showing, and we can usually get in within 24 hours.
- If you happen to go to an open house, be sure to leave one of my business cards or to tell the agent at the house that you already have a signed contract with another agent.
- If they require you to sign in, you can sign your name, but be sure to write in something like “represented by Steven Hong, RE/MAX” and use my phone number “952-884-8404” in the guest book.