The home buying process is rewarding, but also tedious. In fact, deciding that you’re interested in purchasing a house is just the first step. Where do you turn next? Consider making an appointment

to meet with a mortgage broker.

Below are five things to have in order before you make the call to schedule an appointment.

Income details
The mortgage broker will want to know the current details of your income. Typically, recent pay stubs and tax returns will suffice. They will use this information to determine your borrowing power for a loan.

Savings 
Your savings balance will help give the broker a better idea of how much you can actually afford. Be sure to print out the balance of all savings accounts that you are currently using.

Assets and liabilities 
Again, this will enable the broker to get a better grasp of where you’re at financially. It will also help when the loan process comes into play. For assets, you’ll want to compile any type of investments, savings accounts, and motor vehicle records. For liabilities, take note at any personal loans, credit cards, and car loans.

Identification 
This may seem like a no-brainer, but a broker needs proof of identity. Not only should you bring your license with you, but also a back-up method like a passport. Detailed identification will help when a credit check is necessary.

Questions 
Last but not least, come prepared with questions. This is the perfect time to get any worries or concerns that you may have out in the open. Even if you need clarification on a topic, now is the time to ask. It’s best to come with a written list so you won’t forget anything.

Although there are quite a few steps in the home buying process, there are professionals, like mortgage brokers, to guide you throughout the entirety.

1. How will you determine what price we should charge for my home?

 A real estate agent will look at recent comparable sales in your area as well as your current competition among active listings. Agents will probably throw out unusually high and unusually low prices as these are generally considered outliers. That will give you a good baseline potential valuation for your home.

2. What improvements should I make to optimize my home’s resale value?

An agent will conduct a thorough walk-through of your home and look for any needed repairs or extremely out-of-date fixtures or finishes that might deter a buyer. Beyond that, you’ll discuss updates that can add value while offering a solid return on investment.

You don’t necessarily want to put in a whole new kitchen or all new baths, because you probably won’t get the money back in the sale price. However, if your home is severely out of date, you may need to give it an overhaul in order to realize a sale price comparable to those of other, more updated homes in your area.

3. Is bigger always better when it comes to pre-sale home improvements?

Actually, no. According to the National Association of Realtors® (NAR), some of the most cost-effective improvements with the highest ROI include those items related to curb appeal. A new front door or a fresh coat of paint can make a huge difference in the way that the home is perceived. In addition, interventions like deep cleaning or decluttering cost little or nothing, yet can have a big impact on potential buyers.

Don’t forget the outdoors, which offers some of the most affordable improvements with the highest ROI. Get your lawn in check, plant a new tree, and spruce up the landscaping to improve both curb appeal and the home’s value at sale time.

4. What if I don’t want to make any improvements to my home before listing it?

For a variety of reasons, you may be unable or unwilling to make changes or improvements to your home, or you may not be in a financial position to do so. You are certainly not required to make any improvements and an agent can list your property for sale as-is, indicating to potential buyers that you do not intend to negotiate on repairs or damages.

Keep in mind that an as-is sale can affect your ability to get top dollar for your home, even if it is in good overall condition. In addition, many mortgage lenders require certain baseline repairs to major systems, so if there are plumbing, electrical, or structural issues, you may be required to make needed repairs in order to get your home sold.

5. How will you pre-market my listing?

The home sale doesn’t start the day the listing goes live in the MLS. Generally, an agent will start helping you get your home buyer-ready before the first buyer or agent arrives. This may involve staging the home, bringing in a professional photographer, and otherwise advising you on preparing the home for sale. The home may be put into the MLS as a Coming Soon listing and an agent may use yard signage and direct mail to let people know that about your listing.

6. How will you market my listing?

An agent may market your listing in many different ways, depending on the norms for your area, your property’s unique features, and other factors. Marketing may be as simple as signage, photography, and a well-written property description or as elaborate as print and TV ads, drone videography, and outreach to international buyers.

The agent should have a plan for marketing your property and should be able to articulate that plan to you. Do your part to support the marketing plan by properly cleaning and decluttering the space in cooperation with the agent’s recommendations.

7. Can you market my listing without bringing lookie-loos through the home?

If you are interested in limiting access to your home, you have a number of options. Talk to an agent about qualifying buyers who are brought into your home in person. In addition, you may want to avoid open houses, preferring instead to offer a video tour of the home to satisfy curious neighbors and others who just want a peep inside.

8. We’ve agreed on a price and gone into escrow. What happens next?

The buyers will bring in a home inspector to check out the home and recommend any needed repairs or improvements. The inspector may identify a major problem and the buyers may ask for a more in-depth inspection. The inspector may identify only minimal issues and the process may proceed.

An agent may recommend that you absent yourself from the home during the inspection process. If you have some special features you would like to show the buyers or if you want to provide them with service records and information about the home’s systems, ask the agent if you can do so at the beginning of the inspection, then leave for the remainder of their time in the home.

9. The buyers submitted a list of requested repairs. Can I say no?

You are free to say no to any repairs that are requested from your buyers with the understanding that they may choose to walk away from the deal based on their home inspection contingency. Discuss with an agent whether or not you should make some, all, or none of the requested repairs, whether you would be willing to provide a credit at closing toward the repair costs, or whether you should put the home back on the market.

Remember that if the repairs requested are legitimate, the next home inspector will likely identify them as well. Ask a real estate agent how the identification of needed repairs will affect your disclosure and the price of your listing going forward if you decide to put the home back on the market.

10. We did some damage during the move-out. What will happen now?

Accidents happen and it is not uncommon for there to be scuffs on the flooring or paint after the movers have finished clearing out the home. If you notice that this has occurred, or if your buyers see damage during their final walkthrough, the closing can still occur. In most cases, you can either provide additional funds at closing to cover the damage or you can prepay a reliable contractor or repair professional to make the needed repairs on your behalf.

1. STAGING STRATEGIES FOR YOUR HOME

   Staging your home is all about putting the best foot forward for potential buyers. By highlighting its most desirable features, you can draw more interest for your home and leave a lasting impression that is sure to help you sell it more quickly. Here’s what you should keep in mind as you prepare for your next open house or viewing!

   1. Help them visualize it as their own. Make it easier for buyers to imagine themselves making your house their home by removing personal memorabilia, knick-knacks, and photos. Instead replace them with simple décors, such as paintings, nature images, and plants.
   2. Think sleek instead of comfy. Modern-day buyers are leaning toward modern, crisp, clean interiors over comfy, homey looks. When staging your home, keep a minimalist mindset, and incorporate bright colors and metal accents.
   3. Deep clean the small spaces. It's obvious to say you should clean your home before viewing, but don’t forget to cover your bases by deep cleaning the small spots. Take time to scrub porous areas like grout that may hold on to stains and baseboards where small pet hairs and dust love to cling.
   4. Spruce up your landscaping. The first impression your home gives to potential buyers is its exterior. Ensure you have a freshly mowed lawn, neat hedges and shrubbery, bright flowers, and a clean driveway.
   5. Set the mood. A home is so much more than just the way it looks, so you need to appeal to the other senses. Prior to having potential buyers over, set the mood by burning delicious smelling candles and selecting an upbeat, happy soundtrack to play in the background.

    

    

    

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