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how do we go about buying our first home?

  • October 17 2013 - Grand Rapids Township
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Answers (7)

Profile picture for Dunes ..
Your best option is to get as informed as possible about a huge Financial undertaking & obligation, about a very very important decisions YOU will have to make...

You need to get where you have some ability to tell which Agents/Lenders are good and who's blowing smoke/sales pitches..good buy/bad buy..should buy/shouldn't buy ect.
You've got time so use it is my suggestion..lots of info available
First Time Home Buyer Info about the Process & Excellent Info/Resources for any First time Buyer... from HUD..Buying a Home

Gov. loans/assistance
Provided by the Federal Gov..Find the Right Loan, you can search for specific information, compare options, or take a short questionnaire to determine your eligibility for each program. GovLoan.com

You should read imo the Information on the Department Of Justice
Anti-Trust Division Web Site about all the options Consumers actually have available Competing models of real estate brokerage

Compare properties, prices, options for the Market area of your choice..get to know that area well then get to know it better
Check out

REO-Bank Owned Properties
Many Banks have created Sites for the Public to use (For Free) to view and find Information about the Properties they have Listed for Sale
Sites Like..Bank of America...Wells Fargo

You can find links to Bank sites here...Link

The Fed Gov has Sites for its Properties for sale
HUD Homes...Fannie Mae
You can find the links to all the Gov sites here...Link

Worth a look & being aware of imo
CFPB > Consumer Financial Protection Bureau

You've started here asking a question to become better informed so keep going ;) Get as informed as you can so you can make the best decisions you can about a huge business transaction and obligation..

The decisions you will make to buy or not to buy, a good buy, a bad buy, offer...accept..pass...inspector, this lender, that lender, agent ect. ect. are all important ones, very important ones.

Be Smart..Shop Smart
Good Hunting
  • October 22 2013
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Profile picture for joshmay
I advise all First Time Home Buyers to set up a time to meet with a Realtor to discuss the process.  Outlining all of the steps involved from A-Z can be very helpful.  Its also the best way to do some basic question and answer.
  • October 22 2013
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Are you pre-qualified yet? One of the first-steps to the home-buying process is to get pre-qualified whether it be a foreclosure or not. This is important because it gives use a realistic range of how much you can afford. Also, offers from potential buyers with pre-approvals are taken much more seriously then offers with buyers that don't. To start getting pre-qualified I recommend you speak with a lender like myself. Us lenders would be more than happy to speak with you to help you get the loan that you need. So if you have any other questions or need a loan, please contact me through the information on my profile page. I hope this helps and good luck!
  • October 21 2013
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Do your research on neighborhoods.  Start planning and putting together resource information on home buying.  Get pre-qualified or pre-approved from a lender.  Decide what you are looking for.  Meet with a Realtor.  Shop for homes.  Shop for your mortgage.  Be sure you know what you are getting into when signing a contract.  Get a home inspection.  Have your Realtor guide you through the process. 
  • October 17 2013
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Your first step should always be towards making a plan and setting up a timeline. Starting out your first and most important goal is to get pre approved for a mortgage unless you're looking to buy cash so you can know exactly how much of a home you can afford. Once that's out of the way, start searching around and find out where you would like to live. Talk to a local realtor that's familiar with the area. Good luck with your search and hope this helps!

  • October 17 2013
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If you are going to use a mortgage, your very first step is to get pre-approved. Meet with a local mortgage rep and complete the pre-approval process. Once that is completed, you will know how much you want to spend per month and how much house you can afford. At that point, you can meet with a Realtor.
  • October 17 2013
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There is another post just now along with yours, with the same question.
Pre-approval from a Lender is first to see what you're approved for.
Then find you a buyers agent to work with at a local realtor company.
And go find your dream home.
-joseph-
  • October 17 2013
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