Here's the checklist for first time home buyers in a nutshell:
First, find out how much you can realistically afford. Get pre-qualified. Search for a property you like. See if there are any properties for sale in your area that fit your criteria. Next, visit open houses and tour other homes.
Finally, get a home inspection done by a trained real estate agent who is familiar with selling properties in your area. The agent should also have a database of current homes sold and available for home buyers. Most agents will have multiple listings available for sale in your area, depending on whether you live in a metropolitan area, a suburban area or a rural area. Check out your local realty listings. Most sellers these days are more than happy to list their home in a listing provided by the we buy houses.
Another tip for first time home buyers is to be prepared with your asking price (also known as the listing price). It is a good idea to have a rough estimate of what you want your home to sell for. That amount will be the starting point for all negotiations with sellers. Most real estate agents will have a range of prices for homes that they will negotiate with potential buyers. Also keep in mind that your agent may suggest an asking price in order to close the deal, so it is in your best interest to listen carefully to the advice he gives. Your realtor is not always right, but most of them have a good sense of what they are talking about when it comes to the real estate market. The midsouth home buyers is famous for helping clients buy their dream house.
One last tip that is often overlooked is to consider the possibility that a buyer will want to see the inside of a home before making a purchase. This is particularly important for first time buyers and is something that most agents are not aware of. Buyers who are purchasing homes for the first time should always try to view the inside of the home prior to making the actual offer so that they can get a better idea of what they are getting into. Most sellers are more than happy to allow potential buyers to tour the home inside and out.
As you can probably tell by now, there are many different ways that people can get into a financial bind when purchasing a home. It is very important for first home buyers to understand the various financing options that exist and how each one affects the overall cost of owning a home over the long run. If you own a home that is already in a distress situation and are considering turning the property around to either buy another home or start investing in other real estate, make sure that you have adequate cash to cover your down payment and closing costs. That way you will be able to avoid any unnecessary stress and immediately get on with enjoying the home you just bought.
Check out this related post to get more enlightened on the topic: https://en.wikipedia.org/wiki/Real_estate_investing.