Real Estate Buying Tips

When buying real estate in Abilene, Texas, or getting ready for your military relocation to Dyess AFB, Peggy Manning can help you find the home for sale that is just right for you! Residential homes for sale, patio homes and rural real estate, Peggy has the home for you.

1. Be honest with the Realtor. Tell your agent the features you like or don't like about the properties you've seen. Also, be up front about your credit and finances. Your agent may be able to help you overcome potential problems.

2. Don't work with multiple agents. Find one agent you like and be loyal to that agent. You need the total commitment of one person who knows and understands your situation.

3. Everyone involved in the decision-making process should be available for all showings and meetings. It is often ineffective for one person to see houses and then have someone else who has not seen what else is on the market give an opinion. While this may seem to save time, it actually doubles the amount of work, time and frustration.

4. Don't dictate the process. Trust your agent. Local customs may vary and laws vary from state to state. It is best to allow the agent to guide you through the buying process.

5. There is no perfect home. Look for the best home on the market in your price range. If you search for the perfect home, you will never buy.

6. Don't be afraid to offer a fair price. It is not unusual for homes to sell for list price or sometimes higher. If you find the home you want, offer what it will take to buy it. If you don't, someone else will.

7. Don't be overly concerned about minor details. Every home has things that may need to be changed. Also, items such as utility costs may vary by occupant. Differences in square footage may be overcome by layout.

8. Be aware of buyer's remorse. It is normal to second guess your decision once an offer is signed. Know you have made a rational decision and home-ownership is one of the best investments you can make!

STEPS TO HOME OWNERSHIP

• Consulting with real estate agent regarding areas, homes, financing, agency
• House hunting
• Making an offer on a home
• Putting up earnest money (subject to home inspection, financing, etc.)
• Contract acceptance
• Mortgage application
• Appraisal ordered
• Home inspection
• Mortgage approval
• Hazard inspection
• Termite inspection
• Contacting utility companies
• Presettlement inspection
• Settlement (closing)
• Moving in

LOAN APPLICATION CHECKLIST

• Copy of sales contract
• Employment record: name, address and phone number of employer for last two years, current pay stubs
• Driver's license and social security card
• Past two years W-2s
• Bank accounts, credit union, savings and loan account numbers
• Last month's bank statement
• Value of furniture and personal belongings
• Complete list of debts (list banks, department stores, credit cards, etc., account numbers and addresses
• Lease or mortgage information (name, address, phone numbers and account numbers)
• Divorce decree (if applicable)
• Bring check or cash to cover cost of credit report and/or appraisal
• If self-employed, bring two years complete tax returns and year-to-date P&Ls