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Jerry Pinkas: Important Questions to Ask When Buying a House

Are you ready to purchase your dream home? When buying a new home, you have to equip yourself with the right knowledge and understanding about a home sale by asking yourself relevant questions to make a smart and informed decision.

The first question to ask is, “What is my budget?”, because getting the right price is not only the cost you have to pay. Many sellers and buyers when looking for properties online do not really know how much they can afford, so many just end up surprised at the latter part of the deal, and withdrawing from the sale which is a waste of time, money, and effort. Beyond the initial price of the house, you have to take into consideration renovations, remodeling, repairs, closing fees, processing fees, and other sorts of charges. What are the expected actual costs due at closing? The different closing fees involved due at the time of signing are real estate commissions, attorney’s fees, title insurance, and home inspection costs. You have to also include the cost of new appliances, window treatments, or flooring in your budget.

You also need to ask yourself these questions, “Am I financially capable of buying and sustaining the home?”, and “Is my financial status stable or in order?”. Before you make an offer, it is important to get pre-approved for a mortgage. It is important to review your credit score and ensure that you will be pre-approved by the lender. Most lenders do not approve mortgage loans if they see blemishes in the borrower’s credit history.

You also need to know, “What kind of mortgage loan should I get?”. Think about the term of your loan, if you want a 15-year or a -3-year loan, or a fixed-rate or variable-rate, because no single mortgage fits all, and there are different terms and conditions. It is a good idea choosing a loan officer that is knowledgeable to help you get the best loan for your mortgage needs.

What is in the history of the house? Don’t just look on the outside because the inside may have lots of issues like pests infestations, plumbing problems, water damage and leaks, and other house problems. How much should I make an offer? Having a too low offer may end you up losing the transaction, while an offer that is too high means overpayment.

In order to help you determine the price offers in the particular area you are willing to buy a house, it is important to work with an experienced and professional real estate agent such as Jerry Pinkas Real Estate Experts. You can make your offer stand out and win the deal by working with a trusted, reliable, and reputable real estate agent.

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