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Lloyd Kagin - Essential Steps in the Home Buying Process


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Lloyd Kagin have accomplished advisor to commercial real estate owners and small market companies. Buying a home can be a very intimidating process, especially if you've never done it before. Lloyd Kagin shared Essential steps in the home buying process.

Published in: Real Estate
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Lloyd Kagin - Essential Steps in the Home Buying Process

  1. 1. LLoYd Kagin - EssEntiaL stEps in thE homE buYing procEss
  2. 2. start thE rEsEarch EarLY Once you can, start reading Sites, newspaper publishers, and magazines that contain real estate listings. Take note of particular homes you are considering and see how long they stay on the market. Also, note any changes in asking prices. This will give you a sense of the housing trends in specific areas.
  3. 3. dEtErminE how much housE You can afford Loan providers generally recommend that individuals look for homes that cost no more than 3 to five times their total annual household income if the home buyers intend to make a 20% down payment and have a modest amount of other personal debt. However, you should make this determination based upon your own financial situation. Use our Affordability Calculator to see how much house you can afford.
  4. 4. Find the best real estate agent Real estate agents are essential companions when you're buying or selling a home. True estate agents provides you with helpful information on homes and neighborhoods that isn't readily accessible to the public. Their understanding of the home buying process, settling skills, and familiarity with the region you want to reside in can be extremely valuable. And on top of that, it doesn't cost you whatever to how to use agent - they're paid out from the commission paid by the seller of the house
  5. 5. have a home inspection Typically, purchase offers are contingent on the home inspection of the house to check for signals of structural damage or things which may need fixing. Your agent usually will help you set up to obtain this inspection conducted in a few times of your offer being accepted by the supplier. This contingency protects you by giving you a chance to renegotiate your offer or withdraw it without penalty if the inspection reveals significant materials damage.
  6. 6. put together the paperwork Obviously, there is a lot of paperwork involved in buying a house. Your lender will arrange for a title company to manage all the paperwork and make sure that the seller is the rightful owner of the house you are buying.
  7. 7. Close someone buy By closing, you will indication all of the paperwork needed to complete the purchase, together with your loan documents. It often calls for a couple of days and nights for your loan to be funded following the paperwork is returned to the lender. Once the check is delivered to the seller, you are ready to increase your new home!
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