Ten steps you need to take before buying a house - part 2
Buying a new home is sometimes a complicated process, which can take thousands of dollars and a lot of time. There are, however, ways to make the process easier. Here are more five tips on how to buy the house your want while avoid trouble.
6. Collect the necessary documentation for your mortgage application
The mortgage application is a lengthy process that requires lots of documents. Hopefully, these days the process has become much easier, and documents can be exchanged by electronic formats, or fax, for example.
Even then, it is advisable that you get all important information about your financial life in one place. Documents that are important include you tax returns, pay stubs, information about bank accounts, among others. Make sure that you have all these documents or get copies of them if you don't have.
7. Contact the police to check for sexual offenders
One thing that can affect the price of you new home is the quality of the neighborhood. In particular, if there are bad people such as sex offenders in a neighborhood, this can negatively impact the value of a property. For this reason, it is necessary to check about the existence of any sex offenders in the area where the property you want to buy is located.
To find this information you can use the Internet. Most counties in US have a police department web site where this information is available for free. You just need to search the address where the property is located and check the report that is returned by the web site.
8. Buy insurance to cover possible damage
A common mistake that many people do is not to buy enough insurance for their properties. Do not commit the same mistake: take in consideration the proper costs of the property you have and buy enough coverage.
Insurance is a protection that you need, and it usually comes at a very small cost, specially for properties. Make sure you know the costs of your property and of everything inside -- this is the value that you must cover with your insurance policy.
9. Find a reputable real estate agent
The real estate agent is the person that can better help you in the process of buying a new house. Contrary to what most people believe, a real estate agent is not just someone else you need to pay. In fact, buyers don't even need to pay for the real estate agent -- all money payed to agents is responsibility of the seller, no the buyer.
A reputable real estate agent can help you in many ways. First, he or she can show you the best properties in an area, and you don't have to spend your precious time looking for homes. They already have listings of all properties in a desired area, so you don't need to worry about missing a good opportunity.
The real estate agent will also guide you during the process, making sure that you are following all the steps necessary to buy your home. They can serve as a bridge between you and the sellers, so you don't need to learn the negotiation process alone. In summary, having a good real estate agent can dramatically simplify the process of buying a new home.
10. Save yourself money and time with a lawyer
Another professional that can give an important contribution in process of buying a house is a lawyer. A good lawyer will make sure that the whole process of buying a home is within the right legal parameters. This way, you will have no headaches after you expend thousands of dollars in a new home.
The best way to find a good lawyer is by reference from somebody else that needed this kind of service. Talk to your friends or other people that you know -- they will probably tell you about their experiences and you will be able to make a more informed decision