Im going to buy property, who should I see first
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So, you are going to buy a home, congratulations! Property is the best thing you can own but who should you see first? The first person you should see is your Loan Broker. The Loan Broker, through his Loan Officers can let you know how much of a house you can buy. If you go ahead and get pre-approved for a loan you will know exactly what you can afford to buy and then you can go shipping with the certitude that you have your money. Frequently you can also negotiate a better sales price since you already have the cash in hand.Although many home buyers see a realtor before seeing a loan broker, this creates a lot of time wasted for both realtors and buyers. The buyer should see a loan broker or officer first to determine how much house he or she can afford. Once the buyer determines how much house he or she can buy, then the buyer can focus on the house within the right price range.
If you get financed first and shop second then your closing will go much smoother. Your loan broker will most likely have the name of a good appraiser for when its time to do your appraisal. The same goes for your other inspections.
Just about all experienced, first class Realtors will insist that you be pre-qualified by a mortgage professional before beginning to look for a home. In fact, if you are working with a Realtor who does not require that you be pre-qualified for a mortgage, that is a red flag. In that case you are probably working with an inexperienced and unqualified real estate agent who may end up wasting a great deal of your time.