Having an excellent buying experience can be difficult. Many emotions run around when looking at real estate and rightfully so; you are looking for a place to move your family, to build memories and to grow closer together.
Sometimes the mortgage can be difficult. Other times the sellers can be difficult. Additionally, you can make things more difficult for yourself. While we can’t control all the elements, we can certainly help you to prepare for the best experience.
It’s important to know; your lender wants to give you a mortgage loan. That is what they’re in the business to do. They don’t make any money unless they get you a home loan.
Regardless of which bank you’re using, we have identified two items that you can control that will but guarantee a pleasant transaction.
1. Accurate information: this may sound basic, but it slows down many home mortgages. If your loan officer asks for a bank statement or a pay stub, make sure it’s a complete bank statement and a legible paystub. Don’t leave any information out; this will only delay the process.
2. Timely information: another basic idea that has a large impact, timely information. If your mortgage company requests an item don’t get send it in a week later or three days or two days. Get them exactly what they need the same day they asked for it, even if it’s a hassle.
Sometimes it may feel like the lender is asking for a trillion items. This can be for many reasons, but often they’re just trying to get you closer to the finish line. Remember, the two things you can do is to provide timely and accurate information. That’s your recipe for success.
There’s an old saying “it’s not a matter of “if” something goes sideways in a real estate transaction, it’s a matter of when and how we deal with it.”
Far too often we see clients and real estate agents make a mountain out of a molehill. It’s difficult to do, but if you can keep things in perspective during your contract and shopping phases, you will have a much more pleasant time.
Keeping your perspective doesn’t mean you have to settle for things you aren’t happy with. It only means that you should try to remember what’s most important to you and your family.
During the shopping phase:
Make sure to discuss with your real estate agent all your needs and wants. If applicable, make sure to discuss this with your spouse prior to meeting with your agent and make sure you understand the differences. Is it critical that you have a backyard? Do you need a three-car garage, or will a two-car garage be fine If you had a more beautiful kitchen? Does your kitchen window need to face East so the sun can greet you while you eat breakfast or is it more important to have a home that’s close to the dog park? The point is, keep things in perspective and be realistic about your biggest needs and wants.