There is so little time left before
the $8,000 tax credit for first-time home buyers will expire. And buyers are
rushing to buy homes with the hope they make it in time to avail of the said
program. Although there are promises for the extension of the program, people
are not slowing down on buying homes even to the last minute. If they end up
forfeiting the privilege, then it could only mean that they have encountered
home buying problems.
Some people have not closed the sale
yet and the last thing they need right now are delays in home buying. But one
thing you should know is that causes of delays are avoidable.
How to Buy Homes Quickly
Whether you are after the tax credit
program or not, buying your homes in the shortest time possible is important.
For one, this avoids waste of time and effort in your part. Second, it can
greatly reduce the cost of home buying, especially if you have hired escrow
services. Third, you can move into your new home the soonest and it can help
you and your family adjust to your new place.
You probably have not seen the need
for quick home buying. But doing this can be very helpful, especially if you
are under a time constraint. Do you want to know how to make this possible?
Here are some tips to use:
1. Always prepare your finances.
Even if you are planning to get mortgage, you still have to make upfront
payments. Be as liquid as you can. This means you do not have to rely on
selling a property or your stocks just to have cash.
2. Know the ins and outs of home buying. The whole process can be very complex. If you do not anticipate the next step to be done, you can lose days from your targeted closing days. If you are not familiar with the whole process, it is best that you hire a real estate agent to guide you along the way.
3. Get pre-approved for mortgage. Being pre-approved would help you know how much you will be able to loan; hence, helps you anticipate how much available cash you need to raise. Aside from that, you will already know the likelihood of being approved for mortgage. As a result, you can be guaranteed of closing on time or even earlier in the absence of errors in disclosure.
4. Double check everything. Once you have received the necessary documents for the application of mortgage, you really have to exert effort in checking for discrepancies in the agreement. As soon as you have identified the problem, have everything corrected. The earlier the problem is recognized, the more time you have for making corrections.
5. If you must, hire a buyer's agent. If you are too much of a busy person, then you would definitely need someone to represent you while you make a living. A real estate agent can do things in your behalf without you losing control over the whole process.