TIPS FOR BUYERS

You’ve decided to become a homeowner.  This is probably the most important financial commitment you have made.  Buying a home is an investment in your life.  Home ownership creates a sense of security, stability and identity.  Regardless of how times change, owning a home remains a cornerstone of the American dream.

These buyer’s tips are provided to help you through the process of buying your home.

The first thing to do is to get yourself organized and prepared for purchasing a home.  Do this by pulling a credit report on yourself and make sure the information is accurate.  If you find any errors take the proper steps to correct them immediately.  Do not incur any additional debt, and pay down your credit cards.  Do not apply for any new credit, and do not make any major purchases on credit.  You will need to start saving money which will be needed for a down payment and closing costs.

Once you have everything organized, the next thing you must do is contact a lender/mortgage broker who will help you determine the type and the amount of the loan, which you can qualify for.  There are two general steps in the loan process: pre-qualification and approval.  Pre-qualification gives you a good idea how much “home” you can really afford and are qualified for.  Pre-approval is the actual amount that the lender will fund to you. 

Once you and your lender have determined the dollar amount that you can afford to spend on a home, it is time to contact a Realtor.  Your Realtor should be a member of the local Board of Realtors.  The Realtor should be knowledgeable in the neighborhoods and type of properties that interest you.  Viking Realty is a member of the La Crosse Area Realtors Association and the Greater La Crosse Area Multiple Listing Service (MLS) Corporation.  As a member of the MLS, Viking Realty can easily access information on all properties listed for sale by Realtors in your area. Your Viking Realty agent is very knowledgeable with the local area and is willing and able to guide you through the intricate process of buying a home.  Viking Realty provides buyers with up to the minute market data, information about local ordinances, and will negotiate a transaction that is best for you. Viking Realty can help arrange financing and we will be there at closing to answer your questions and make sure everything runs smooth.

The next step is to determine what type of home you are looking to purchase.  It is a good idea to know what type of home you want, before you start looking.  Are you looking for a single family home, condo, or twin home?  Are you looking for an older home, newer home, new construction, or fixer upper?  Do you prefer a ranch, 2-story, quad level?  As a buyer, you should make a list of all the features that are an absolute requirement for your home.  Next, make a list of the features you would prefer in your home, but that are not requirements.  Finally, make a list of all the unacceptable features for your home.  This will help to keep you focused on your main objective, which is to purchase the right home at the price you can afford.

Location is also a vital factor in selecting a home.  Think about work commuting times, how close schools are for your children, and if conveniences such as grocery stores and dry cleaners are nearby.  Also consider crime statistics, whether there is heavy traffic in the area and if the area is susceptible to flooding.

Once you have found the home that interests you, it is time for the purchase process to begin.  As the buyer, you will have the Realtor write up an Offer to Purchase.  The Realtor will then present the Offer to Purchase to the sellers.  The seller will accept the Offer to Purchase, reject the Offer, or write a Counter Offer.  If the seller accepts the Offer to Purchase, you have a legally binding contract for the sale of the home.  If the seller writes a Counter Offer, then the negotiation phase of the purchase process begins.

Once you have an accepted Purchase Agreement, the difficult work begins.  It is now time to coordinate the legal and financial details of the Offer, in order for the closing of the property to take place at the designated time.  Viking Realty’s highly skilled agents will handle this entire process to help ensure a smooth, successful closing; allowing you the time to concentrate your efforts on your family and personal activities.