Here's the complete checklist for first time home buyers in a nutshell:
Find out how much you can actually afford. Get pre-qualified. Search for the perfect house. Find a good real estate agent. Visit open houses and tour potential homes.
Now here comes the big one... Get a home appraisal. Get an appraisal done before you decide to make an offer or go to closing. With today's real estate market conditions, you need to know what your home buyer's budget is, so an appraiser can give you an honest evaluation of the value of your home based on square footage, condition, upgrades, extras, etc.
Now, let's talk about agents. First time home buyers might not know enough about how to find the right agent, so we're here to help. First, we recommend you use an agent who is local. The biggest thing that differentiates the top agents from the rest is whether they are members of the National Association of Realtors. Agents who are REALTORS ALWAYS use this membership status as leverage to negotiate lower prices with sellers and/or close more FSBO homes sold.
Then we have the recent home buyers list. This is a short list of potential home buyers that have recently bought a new home and plan on staying in their homes for at least three years. We recommend using this list only. Most FSBO sellers do not put a recent home buying list on their website or flyer. As a result, there is a high probability that these recent home buyers will be looking to stay for a long time, so naturally, they will not be interested in FSBO homes for sale right now.
Finally, we recommend you work with your sell a house for cash realtor when working with any one of the three lists above. Not all real estate professionals are experienced with all of the services and listings on each list. Real estate professionals are highly-specialized professionals and should not be worked with unless you have completed your due diligence. You want the best representation for your home purchase, and the most experienced representation for your particular home purchase price. Do not use any listing service, or FSBO seller without my leading hand.
There are also three other sources of solid information on FSBO homes for sale. First, you can visit the website of your local mortgage lenders. Many mortgage lenders offer websites that feature recent listings of available homes for sale. Mortgage lenders are some of the leading sources for information on FSBO properties. Second, you can visit local FSBO websites to find out what other local sellers have to say about their homes, as well as information about how much money the home buyer is planning to spend and the number of years it takes to recoup the cost of the home purchase.
Last, you can consult a debt-free expert, such as a Certified Housing Counselor or a National Foundation for Credit Counseling's Consumer Credit Counseling Services website. These selling my property as is for all cash experts can help you determine what your financial needs are and recommend the best way to achieve those financial goals. In general, you want to make sure that you have enough money for all of your short-term expenses (rent, utilities, insurance, etc.) plus a cushion of savings for emergencies. Once you have determined this, you are ready for the first home buyers' market.
Find more here: https://www.dictionary.com/browse/realtor