Get pre-approved for the purchase
This takes very little time and lets you know the price range you qualify for and which fits your lifestyle.
Obtain your own credit report
This allows you to make sure the information is accurate. If it isn't, take steps to correct the report immediately. There are a number of credit rating agencies. The top three are Experian, Equifax, and TransUnion. To obtain a free annual credit report, please visit Annual Credit Report.com.
Keep your debt load to a minimum
Don't make any major purchases or incur any additional debt until after your purchase. Pay down credit cards and don't apply for any new ones. Remember, financial institutions evaluate your financial situation on your gross monthly income. Your total monthly house costs should not exceed 28 percent of your gross monthly income.
Include a substantial earnest money deposit
Sometimes offers are accepted based on the amount of the deposit.
Try to minimize the number of contingencies
Fewer contingencies mean a stronger offer.
Be prepared to view new properties quickly
Sometimes, homes will sell quickly, so be prepared to make fast decisions and be accessible to change the terms instantly.
Have instant access to your agent
Instant communication can mean the difference in purchasing the property of your choice.
Hire an inspector
A professional building inspector or appraiser will make sure the house of your choice is in satisfactory condition.
Check zoning regulations and covenants
Good residential neighborhoods will be zoned to keep out commercial and industrial users. Restrictive covenants are also important considerations in purchasing a home.
Commit verbal agreements to writing
Make certain verbal agreements are written into the final contract to avoid any stressful and expensive issues later.
Make sure you know what stays or goes
Your contract should be very specific about which items (appliances, etc) are included in the sale. Some sellers may take items you might not expect.
Include a strong competitive offer
