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10 Things You Must Do Before Buying a Home

by Professional Realty Associates

10 Things You Must Do Before Buying a Home

by Brandon Cornett

Buying a home is often the largest personal finance transaction a person makes in his or her life. So it's critical that you make the right preparations and do the proper research. Regardless of unique situations and special circumstances, there are ten things you must do before buying a home.

1. Study the Tips process.
This will allow you to make better decisions and act confidently. Tips lingo is a big part of this, so be sure to read through a few home-buying glossaries before you get into the thick of things.

2. Obtain your credit report.
Get a copy of your credit report and review it for errors. You can get copies from all three credit bureaus at once by visiting www.AnnualCreditReport.com. Home Financing lenders will review your credit with a fine-toothed comb, so you should do the same ... before they review it.

3. Fix credit errors quickly.
If you find an error on your credit report, go to the company's website where the report came from (TransUnion, Equifax or Experian) to contest it. It can take time to clean up an erroneous credit report, so get started as soon as you spot the error.

4. Check your debt-to-income ratio.                                                                                        Home Financing lenders like to see a borrower's debt at (or below) 20% of net monthly income. If your debt exceeds 20% of your net monthly income, try to pay it down for applying for a mortgage loan. You'll have an easier qualification process and will likely qualify for a better rate.

5. Determine your budget.                                                                                                                                     Use an online Home Financing calculator to get an idea of how much you can afford to pay each month, and what that equates to in terms of a home price. This will give you a budget to work from, which will help you weed out the Homes for sale in york pa that are beyond your comfort zone.

6. Start saving your cash.
This is one of the best things you can do before starting the Tips process, for a couple of reasons. First of all, Home Financing lenders like to see that you have some cash reserves on hand. Secondly, you'll need cash reserves for any unexpected fees or costs that might arise (which is common).

7. Get pre-approved for a loan.
During pre-approval, a Home Financing lender will review your credit, finances, debt, etc. and conditionally qualify you for a certain amount of mortgage. Sellers will take you more seriously if you have a pre-approval letter, and the process also helps identify any problems with your credit or other qualifying factors.

8. Avoid new lines of credit.
Try to keep your financial situation as "stable" and favorable as possible. It's a good idea to pay down some debt (see item #4 above) and to save up some cash. But the worst thing you can do is take out a new loan / line of credit. At best, this could make the qualification process take longer. At worst, it could tip the debt scales into the "greater than 20%" zone, which will make it harder to get a loan.

9. Validate the asking price.
It's called an "asking price" for a good reason. No asking price is set in stone, and everything in real estate negotiable. So don't accept an asking price as being reasonable until you validate it through careful research. Compare the home / price to recent sales in the area. Your real estate agent can provide a comparative market analysis (CMA) to help you with this step.

10. Get a home inspection.                                                                                                                                      It is never -- I repeat, never -- wise to skip the home inspection. A house is a sizable Real Estate Investment, and the last thing you want is to find a bunch of things wrong with it after you've taken ownership. Home inspections are very affordable, and you cannot put a price on the peace of mind you'll have as a result of your inspection.

* Copyright 2008, Brandon Cornett. You may republish this article if you retain the citation notes and hyperlink below.

Citation Note: This article was created by Brandon Cornett, publisher of the Tips Institute  network of real estate websites. You can learn more or contact the author by visiting his Home Financing refinance blog at http://www.mortgage-refinance-advice.com/blog/

Christmas Magic at Rocky Ridge County Park

by Professional Realty Associates

Christmas Magic 2008, Festival of Lights at Rocky Ridge County Park Marks its 25th season this year! Christmas Magic is a half mile long walking trail with over 400,000 christmas lights, which includes lighted holiday scenes, and five enclosed heated pavillions. Christmas Magic is the largest program sponsored by the York County Parks each year.  Over the years since the opening, over 500,000 people have passed through the gates. During this time there is musical Entertainment scheduled, the Park Rangers hold a food drive that benefits local charties, and Students from the York Culinary Arts School will be producing ice  sculptures at Rocky Ridge County Park at 12:00 p.m. on Dec. 10.  There is also food vendors to fill your bellies and warm you up. So Dress warm and get outdoors with your family this holiday season!

The Pilgrim Team Moving Truck

by Professional Realty Associates

Pilgrim Team Moving Truck

 Have you seen this truck around town? When you see it do you think to yourself, “How can I use The Pilgrim Team truck?” Buy or sell a home with The Pilgrim Team and use our moving truck for FREE. It's another service you'll find only at the The Pilgrim Team.
We want you to keep in mind that this truck is available for use by our clients, community organizations, non-profit organizations, and charity groups.
There are a few things that you must keep in mind when reserving and using this truck:
  • Reservations for the use of The Pilgrim Team truck are required, and filled on a “First come, First serve basis”. So Reserve Early!
  • Proof of insurance and a valid driver’s license must be provided prior to use. If there will be more than one driver, license and insurance must be provided to us for each individual. Drivers insurance should cover any vehicle damage during use. Driver will be liable for any deductible.
  • Please return the truck in clean condition and with a full tank of gas. The truck uses regular unleaded fuel.
  • You may use this truck FREE for 24 hours to move.
  • If using the Truck over the weekend, you must pick up the key by 5pm Friday.
Please contact us for further questions.

717-757-5955
Use Our Moving Truck for FREE!

Register to reserve the Truck here

Any Pilgrim Team Real Estate client or VIP can use our moving truck by calling our office in advance and making a reservation. Non-profit charitable organizations may also use our truck for their events as well. Please call for further details, some restrictions may apply.  

Other Services Provided By The Pilgrim Team . . .

• A professional group of vendors at your service to use during various stages  of the buying process (i.e., lenders, inspectors, title companies, cleaners, etc.)
• Full representation throughout the buying or selling process
• A highly trained TEAM behind you from start to finish

 

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The Pilgrim Team
Professional Realty Associates
2002 S Queen St, Suite 3
York PA 17403
Office: 717-757-5955
717-755-2683
Fax: 717-757-2887