We Believe Home Buying Should Be Simple and Efficient. Introducing Our 3-Stage Simplified Home Buying System.
STEP 1: PREPARING FOR A HOME PURCHASE– FINANCING & CHOOSING YOUR REALTOR®
The Talka International Realty Step-by-Step Home Buying Process has been designed to simplify your home buying process and provide you with the best home buying experience possible.
As your personal REALTORS® we are here to assist you throughout the home buying process and provide you with an efficient, timely and successful home buying experience.
GETTING STARTED: IS HOME OWNERSHIP RIGHT FOR YOU?
The first step in the home buying process is understanding your financial condition and making a clear decision on whether or not home buying is the right option for you. The difference between renting vs buying is so vast, and each come with their own list of pros and cons.
Here are some questions to review before moving forward in your home buying process:
- Do you prefer to maintain the property yourself or have it maintained by others?
- Is your current financial status stable?
- Do you have the necessary savings needed for a home purchase: including down payment, closing costs, loan origination fees, etc?
- If this is a second home, vacation home or investment property do you have the additional funds required for down payment (Generally 20%)?
Something that will help you is to make out a list of pros and cons of buying as well as renting. Buying a home is not for everyone and remember- there is no one best decision for everyone. If homeownership is the right decision for you, you must be financially and emotionally ready for the responsibility.
Buying a home is one of the greatest experiences you’ll have in your lifetime, but it can also be one of the most stressful situations if you run into financial hardships. Overall, take an honest look at your lifestyle and you and only you can decide what is best for your current and future needs for your family.
FINANCIALS: GETTING FINANCES IN ORDER
To get a good understanding of your current financial status and credit worthiness you’ll want to get a copy of your full credit report. You can get a free copy of your credit report once a year from AnnualCreditReport.com. Scores can range from approximately 300 to 850 and generally a higher credit score (740+) will get the best interest rates, loan terms and lower down payment allowance.
Before speaking with your loan professional we encourage you to get a copy of your free report, so if there are any errors you can dispute them prior to applying for your home loan.
FINANCIALS: CALCULATING YOUR BUDGET
In order to make an informed decision on homeownership it’s important to know your current budget and figure out what you can comfortably afford before your big purchase. Start by completing your household budgeting plan and find out how much cashflow you have each month and your financial stability.
FINANCIALS: MORTGAGE CALCULATORS
Some expenses to know about prior to starting your home loan process are down payment, loan rate, closing costs, insurance, title fees, loan origination fees, etc. To get a good idea of all costs involved in your home loan, utilize our mortgage calculator, affordability calculator and closing cost estimator.
Having an experienced lender is one of the most important aspects of your home purchase. Nobody ever wants to get to closing day and realize the deal fell through because of the lender’s incapability to meet tight deadlines.
A reputable loan consultant that can walk you through the entire financial process and help you determine the best price point for your home loan is an invaluable asset to you.
HOME LOAN: PRE-APPROVAL PROCESS
In order to determine how much house you can afford you will need to consult with a loan consultant. A loan consultant will help you determine the mortgage loan program and loan amount that fits best for your needs.
Once you have been pre-approved from your lender you will receive a pre-approval letter to begin your home search. Having this letter is your proof to seller that you are fully prepared to take on the home purchase. Consider this scenario: You put in an offer on a property and they receive another offer from another potential home buyer. You have provided a pre-approval letter along with your offer, and the other offer claims they are pre-qualified, but have no supporting documents. Most likely the seller’s Agent is going to push for your offer since you have proven your ability to purchase.
We only refer our clients to the very best lenders that have proven their ability to exceed our very high expectations. If you would like us to recommend a loan consultant / mortgage broker please contact us and we will get in touch with you and connect you with our preferred referral.
Would you like us to refer a loan consultant to you? Please contact us.
CHOOSING YOUR REALTOR®: QUESTIONS TO ASK
When it’s time to buy a home, it’s also time to select a buyer’s agent to represent your interests in this all- important transaction. But how do you choose one?
Here are some of the most significant issues to consider and questions to ask when interviewing your buyer’s representative:
- How long have you been a buyer’s agent?
- Have you earned the Accredited Buyer’s Representative® certification?
- What designations or credentials do you hold?
- Can you refer me to the last three buyer-clients you’ve helped?
- What are your specialized areas of experience?
- What neighborhoods specifically do you know best?
- Do you practice dual representation?
- Can you show me how you will assist me through every stage of the home buying process?
These are just a few of the questions you will want to ask before signing a buyer representation agreement. The biggest purchase in your lifetime should be only trusted with a buyer representative that has the knowledge, specialized buyer experience, designations, and professionalism that can bring about a successful and timely home purchase for you.
Rest assured when trusting us with the most important purchase in your life, we are committed to putting your needs first and providing you with a timely, efficient, and successful home purchase experience. Our home buyer services are catered to local, out-of-state as well as out-of-country buyers.
JASON FELKER & STEPHANIE LUND
As Accredited Buyer’s Representatives®, we have the experience, knowledge and professionalism required to assist you with your home purchase. Among our earned designations are Certified Negotiation Expert (CNE), Accredited Buyer’s Representative (ABR), Certified International Property Specialist (CIPS), Resort and Second Home Property Specialist (RSPS), Seniors Real Estate Specialist (SRES), Short Sale and Foreclosure Resource (SFR), Certified Distressed Property Expert (CDPE), Certified Short Sale Expert (CSSN), and Certified Luxury Home Marketing Specialist (CLHMS).
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