Purchasing Nashua NH real estate is a lot like running a race. There may be hurdles that get in your way, but as long as you stay focused and know what steps are required to close, you can find the home of your dreams.
Save Enough for Closing Costs
If you’ve never purchased a home before, chances are you’ve overlooked the closing costs. They are not cheap, generally costing around 2 to 5 percent of the home value. These are just estimates though, because costs can vary depending on where you purchased the home.
Some of the most common costs you should expect to pay, no matter where you buy, include credit checks, transfer titles, notary charges, prepaid property taxes, loan origination, commitment and processing fees, and lender’s inspection fees, just to name a few.
There are times when home buyers do everything correctly, from researching the area to getting the property professionally inspected, and then, for whatever reason, their financing falls through and they have to start all over again. This doesn’t have to happen to you if you take the necessary precautions.
Start by getting pre-approved. You’ll know how much you can afford early on in the process, giving both you and the seller confidence that negotiations will work out. However, you should keep this pre-approved number to yourself as showing your hand could prevent you from getting the best deal.
Along with getting pre-approved, you need to secure the right mortgage and make sure all steps have been taken to prove that you can afford the process. Any misstep could delay this process and prevent you from getting approved all together.
Compete with Other Buyers
It would be nice to be the only one making an offer on a home, as the seller would probably drop their asking price. Unfortunately, today’s real estate market is highly competitive and you need to know what you’re doing to beat the competition.
You can improve your odds of closing by visiting a home the day it gets put on the market. This shows the seller you’re very interested and helps you make an offer before anyone else does. Of course, you’ll have to be flexible with your asking price since the house hasn’t had the chance to sit.
If you’re hoping to close on a piece of real estate rather quickly, you need to make sure you have everything in order. This includes your finances, negotiations with the seller, and your overall interest in such a long-term commitment.
Hire an exclusive buyer’s agent to make it easy to find the Nashua NH real estate you want. Give us a call at Buyer’s Option Realty Services for a no-obligation consultation if you’re thinking about buying Nashua NH real estate.603-881-3800.