Whether your dream home is new construction or an existing home, you will want to know what to look for as you begin your home search.
Check out the list below and how your buyers broker will help you conduct a home search, negotiate, and close on a new home. A buyer broker can help you with the process of buying a home while representing your best interests throughout the purchase.
Use the Home Buyer Checklist* below to prevent errors and to stay on track:
- Get pre-qualified for a mortgage.
Credit report, FICO score, type of mortgage, shop for best rates/terms and programs.
- Determine your wants and needs.
Style of home, size, price, location.
- Call Buyers Broker of New Mexico.
Touch base with us so that we can determine your needs/requirements, and to see if we’re a good fit for you.
- Check out the neighborhoods, schools, crime rate, traffic, zoning, and work commutes.
Your buyer’s broker can provide guidance. Check the web for helpful information.
- Visit properties of interest with your buyer broker until you find the one you wish to make yours. Your buyer broker will set up the route and appointments for you.
- Do the due diligence and research on your property of interest. Your buyer broker will conduct a market analysis for you to help determine a fair market price.
- Prepare the offer and negotiate.
Your buyer broker will have the skills to help you craft an appropriate offer and negotiate the best price/terms under the circumstances.
- Work with your lender in getting to “final loan approval” status.
- Your buyer broker will help you conduct the home inspections and other due diligence.
Take advantage of the inspection and other contingencies in your offer and get thorough inspections to minimize any surprises after you move in to your new home.
- Negotiate repairs with the help of your buyer broker: this is often referred to as the second round of negotiating.
Use the inspection report to re-negotiate if necessary and amend the purchase agreement.
- Walk-through inspection prior to Closing with your buyer broker.
Visit your new home before you sit down at the closing table to make sure everything is as you expect it to be.
- Closing: Your buyer broker will attend the closing at the title company with you. This is when you sign all title transfer and loan related documents. Your lender receives the signed documents and then “funds” the loan. The title company dispersed the funds and records the transaction with the county.
- Get access to your new home and celebrate.