BUYERS CHECKLIST
- Determine what you can comfortably afford including your budget for a down payment and the amount you are able to spend monthly. Sample monthly expenditures include your mortgage, maintenance or HOA fees, real estate taxes, utilities, parking etc.
- Mortgage information. Get pre-approved for a mortgage; look into your credit report including your FICO score, research different types of mortgages, shop for best rates and programs. If you need any assistance, please contact us at mortgage@klrealtygroup.com.
- Identify your timeline for moving.
- Find a real estate agent who specializes in your desired area.
- Determine your must-haves and prioritize your wants. Style of home, size, location, amenities, etc. including type of home, condo, townhouse, and detached. Explore different neighborhoods to determine which ones best suit your needs. Evaluate commuting time to work and area “amenities” such as parks, schools, restaurants, museums, etc.
- Research schools and review school reports in selected neighborhoods, if applicable.
- Evaluate building amenities and HOA rules in terms of your needs, if applicable. (e.g. parking, security, gym, pet policy, storage facilities, etc.)
- Discuss with your agent how much to offer and leave room to negotiate. Our expert agents will be able to advise based on how long the property has been on the market, condition of home, other offers that have been presented, and how the asking price compares to recently sold similar properties.
- Let us prepare your offer and apply trained real estate negotiating skills during the buying process. Your agent will advise you of any final negotiating factors that may benefit you in the purchase.
- If applicable, once you have chosen a home (condo, townhome, CID), have both your agent and your accountant evaluate the building’s financial statements.
- Once your offer is accepted, work closely with your agent to gather materials for your mortgage application and escrow package.
- Before you move in, obtain homeowners insurance. Get quotes, compare and secure an insurance policy with appropriate coverage. If you need any assistance, please contact us at insurance@klrealtygroup.com.
Whether it’s your first purchase or looking to upgrade or downsize, buying a home is one of the biggest decisions you’ll make in life. We’ll help to make the purchase of your home as easy as possible so you can Keep Living.