Begin your home search by being prepared and having your finances ready.
FAQ’s About Buying a Home
Q: Should a home buyer get prequalified?
A: It is generally a good idea to get pre-qualified though it’s important understand the difference between pre-qualification and pre-approval when getting approved for a home loan. Sellers are more willing to accept an offer if it is accompanied by a pre-qualification letter and some even require it up front but a pre-approval is more desirable.
Q: What should I do prior to looking for a home?
A: You’ll want to begin by gathering and organizing your financial information. By preparing these documents ahead of time, you’ll make the home loan process much easier. Before you buy a home you should check with a local mortgage lender to see what type of loan you qualify for. You should know facts such as:
- Annual income
- Other home loans
- Credit card balances
- Other loan balances (vehicles, etc.)
- School loans
- Other factors affecting your income such as child support, tax payments, dividends, etc.
Note: Some loan programs do not require a down payment.
Q: If I find a home that is not listed by American Home Agents can they show it?
A: Yes. American Home Agents can show you any home, new or resale, no matter who is the listing broker. If you see an advertised home, see a home as you are driving through a community, or if you attend an open house, please contact American Home Agents and we can get you started towards the purchase process.
Q: Is it best to make a low offer right up front?
A: If your offer is too low you may automatically discount your seriousness. It is important to know that by making a low offer that is eventually rejected or countered, another prospective buyer may submit an acceptable offer before you have the opportunity to submit another offer or accept the seller’s counter to your offer. American Home Agent’s will help you through the process and help you make a competitive offer that still aligns to your expectations and budget.
Q: Do I need to get a home inspection?
A: Absolutely! A home inspection is an important part of the process to ensure you get what you pay for. Unexpected surprises during the home buying process can often lead to costly fees or delays that can impact your ability to buy a home. Home inspections help uncover any issues with the home or property and protects prospective buyers from assuming hidden problems.