Steps To Buying A New Home

Saturday, June 05, 2010

Christine Davis
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Buying a home is a daunting and scary task. Though many people try to cut costs in the process by forgoing the use of a real estate agent, it is actually more beneficial to both the buyer and seller to find an agent that will utilize their expertise to get you the deal you want.

Asif Khan of Remax All-Stars Realty Inc. says that choosing the right agent is the first step in purchasing a new home. Choosing an agent you can trust and whose guidance you can rely on throughout the process is important and will make your journey to your new front door a much more enjoyable experience.

What you need and want: Establishing your needs and wants is the next step in the process of buying a new home according to Khan. During a consultation with your chosen realtor you will lay the foundation for what you are looking for in a house.

Affordability: Once you’ve decided what you’d like to have in your new house, and what you need to have, you should go through the pre-qualification process with a mortgage broker. This will give you and your realtor an understanding of what you can afford and will help narrow down the search.

Property search: Once you’ve got a budget, your realtor will source property listings for you. First looking through online listings, you can further narrow down your options that your real estate agent will take you to see in person. Keep in mind that houses look a lot different in pictures than they do in real life, so this walk-through process cannot be skipped.

Making comparisons: After you’ve walked through a number of houses you will want to sit down and compare what each has to offer. From neighbourhoods, amenities and features, this is where the decision really gets tough. Familiarize yourself with the home’s location and what the area has to offer and take a second walk through the houses, if possible, to get a better feel for them.

Making the offer: If you’ve found a home that you can envision yourself living in, then the time is right to make an offer. This is often the most complex part of the home buying process that involves a complete package, including your price, the closing date as well as any terms and conditions you are putting on the offer. It is this stage at which the expertise of a real estate agent will help. They will advise on what constitutes a fair offer by preparing a market analysis comprised of all comparable properties bought and sold recently in the area. They will also moderate between you and the seller to ensure everyone comes out of the deal happy.

If you would like to learn more about the benefits of buying a home with Asif Khan and his Dream Team visit www.asifkhan.ca. Or watch his videos at www.dailywebtv.com where you can learn something every day.

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Eleonora Salerno
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The Mortgage Centre - Get a Better Mortgage Inc.
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Remax All-Stars Realty Inc
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