Home Buying Introduction for First Time Lexington Kentucky Home Buyers

Written by Miranda Hinchman 03/19/09

Buying your first home can be a stressful situation with all the tasks and responsibilities that go with it. To make it all easier for you, the first step you should take when buying a house is to find a great Realtor. This is some one who is attentive to your wants and needs in a house and is concerned with putting your mind at ease. Over all, the ideal Realtor is not only attentive but is trustworthy as well. Your Realtor should be more than willing to answer any and all questions you have to the fullest of her ability. If ever when you are searching for a Realtor and you find one who skirts around the answer of a question or leaves you questioning things after a meeting, pack your briefcase and run. This is a very big deal, and you need to be able to trust your Realtor explicitly. With large amounts of money and your personal credit standing in jeopardy, how can you afford not to find a good Realtor.

Your second step to take when purchasing a house is to apply for loans BEFORE you go looking at houses. When applying for loans, do it in person, with lots of paperwork, and make sure you are getting pre-approved, NOT pre-qualified. When you get pre-approved for a loan, things like your credit history, pay stubs for employment verification, tax returns, and of course your loan application will be looked at. This is not all that the banker will be asking for, however, he may want more or less, depending on who you are trying to get your loan through and your own personal credit history. Getting pre-approved also guarantees you will have the money set aside and waiting for you when you come back after you have decided on a house. Pre-qualification however, is a completely different story. This is usually done over the phone, with little personal background information and usually no paper work, and is not a guaranteed loan. Basically, anyone with credit that is not utterly horrible can get pre-qualified for a loan, but all that can change once you go in to fill out the paperwork. A detailed credit history search or some other problem that was not discovered in the pre-qualification process can turn up something that leaves you inapplicable for the loan. Another important thing to watch out for when applying for a loan is the interest percentage rate: too high and it is no good. The higher the interest rate, the more money you pay to the bank instead of towards paying off your loan.

Once you have a loan secured through a bank, it is time to update your Realtor as to how much the loan is for, a.k.a what your spending limit is, and what exactly in a house you are looking for. From here, she can match you with a house based on a variety of different aspects. For instance, if you really liked a neighborhood you got lost in one day, your Realtor should be able to find a house in or around that area to show you. Or perhaps you want to be closer to your child's school. Your Realtor will be able to help you find something there too. Say you just want a house with a garage, a big backyard for your dogs, and a swimming pool; your Realtor can search houses by desired aspects for you as well.

Before settling with one house, remember this is a big decision and you should look around to find the one that suits your personality and desires the best. Once you have firmly decided on a house, let your Realtor know and she will begin the negotiations. Usually what happens is the Realtor offers the seller or seller's agent the final price that the buyer is willing to pay, along with some cash as a sort of "down payment" to show the seller you are serious about buying the house. Then, negotiaton is done until every one agrees on one price. Once this step is completed, carefully re-read the paperwork before signing the agreement. Once your signature is added and a few more pieces of paperwork are completed, you can start moving into your new house.

Making sure that you get the best Realtor, the best loan, and the best deal on a house can leave anyone frantic and frazzled. You don't have to worry anymore because Realtor Miranda Hinchman is here to help. One of the top Realtors with the dependable real estate company ERA Woods Group., Miranda provides all her clients with a personalized, one on one consultation to help you find what is best for you. www.sellmelexington.com provides the best possible atmosphere and tools to help you feel comfortable, and to calm your qualms about purchasing your first home. Miranda will help you find your perfect house for the best deal. Plus, if you are looking to move to the beautiful area of Lexington Kentucky, that is just what Miranda specializes in: Buying and selling any and all types of properties in Lexington, Kentucky and bluegrass area. So, before you get all sweaty and stressed looking for an excellent Realtor, check out Miranda Hinchman of ERA Woods Group. Thousands of people chose her and her company because they stood out above the rest. Thousands of people can't be wrong, so browse her website and feel free to contact her. Her trusting personality, her drive to please and her desire to achieve results is sure to win over even the most pessimistic of people.