Buyers

Before you consider buying property in Puyallup

Buying a home in Puyallup, WA, can be a fun and exciting journey for any family. On the other hand, bumpy roads can cause a lot of stress. Don’t fret - with the help of the buyer’s agents at Golden West Properties, everything will run smoothly. Our agents are on top of today’s fast-paced real estate market, which will make buying your home a lot easier. Once you decide to buy a home, here are some things for you to consider.

Hire a buyer’s agent. If anything, hiring a buyer’s agent from Golden West Properties will save you a lot of time, and time is absolutely priceless. We can also save you a lot of money as well. Our agents know what you’re looking for, and we can send you listings that aren’t even on the market yet that will fit your needs. This will keep you from wasting your time looking at homes that may or may not have already been sold. Our agents have been trained to recognize when a home is overpriced, so we can negotiate the best deal for you.

Start searching for a home. The last thing you want to do is start searching for a home, and not know what you’re looking for. Before you begin the search, you should figure out exactly how many bedrooms and bathrooms you need, the commute time, the local schools, and more. Don’t overwhelm yourself by looking at more homes than you can handle. Stick to searching seven homes maximum, otherwise your head will spin. Also, try to be open-minded about the homes you are interested in. A distasteful shade of paint may be unattractive, but paint can be changed. Don’t minimize a home based off of some minor downfalls, because you may be missing out on your dream home without even realizing it. Our realtors can help you figure out which homes are worth considering.

Figure out which neighborhood is right for you. Before you decide which home you would like to buy, you need to consider what neighborhood you would like to live in. There are many Puyallup, WA, homes for sale to choose from, but what about the neighborhoods that they are located in? The city is home to the Washington State Fairgrounds, so you should decide how close you want to be to that. If you would like to learn more about the city, check out the City of Puyallup website.

Learn the financing basics. When it comes to purchasing a home in Puyallup, WA, there are two things you need to know about financially. First, the difference between a fixed-rate and adjustable-rate mortgage (ARM), and the difference between pre-qualification and pre-approval. A fixed-rate mortgage, according to Investopedia, “is a mortgage that has a fixed interest rate for the entire term of the loan.” An ARM “is a type of mortgage in which the interest rate applied on the outstanding balance varies throughout the life of the loan.” Your buyer’s agent can help you decide which type of loan is best for your particular situation.

The difference between pre-qualification and pre-approval is larger than you would think. Pre-qualification could suggest that you simply went to an online lender site and put in your information, and were approved to be lended money based solely on credit. However, doing only pre-qualification will make sellers less likely to choose you as the buyer. A pre-approval, on the other hand, is more complex. A pre-approved for a mortgage means that a lender has determined how much you can borrow and the loan programs that you may qualify for, as well as the interest rate you qualify for. A seller will be more likely to choose you as the purchaser if you have filled out a pre-approval rather than a pre-qualification. If you need help with either of these steps, feel free to contact our wonderful realtors.

Start setting aside money. There are a plethora of Puyallup homes for sale, and all of them are at a different price. The question is, do you know how much money you’ll need to save up for your home costs? If you need help figuring it out, use our mortgage calculator tool. Now is the best time to start saving any extra money that you have so that you can build your down payment.

• Down payment. A down payment is the up front portion of your mortgage on your Puyallup home and is typically combined with a home loan to fulfill the total purchase price of a home. Down payments can range anywhere between 3%-20% on average. Sellers are ultimately interested in one thing: money. They want money for their home, and they want it as soon as possible. The more money you have saved up for a down payment, the more likely you will be to get the home. Even if you don’t have much saved up, you still have options. There are many first time home buyer programs that don’t require a large down-payment.
•  Closing Costs. Closing costs can cost anywhere from 2%-5% of your total loan. These costs can sneak up on you and cost you a lot of money if you’re not prepared properly. Paying for mortgage points. Points cost 1% of your mortgage cost and can act as prepaid interest so your buying down your interest rate. These mortgage points can save you money over the course of your mortgage. 
• Move in costs. Unfortunately, when you move to a new home, you will have move-in costs. This can mean anything from moving supplies, to movers, to rental trucks, and more. Make sure you consider these costs before purchasing your Puyallup, WA, real estate. 
• Do a home inspection. A home inspection should be done before you make any sort of offer. Most of the time it is required by lenders to have this step conducted. You can give the seller a “Request for Repair” if there are any repairs that need to be made and more than likely, the seller will go through with the repair rather than finding a completely different buyer. Either that, or you can use the cost of the repair to negotiate a price.

Submit a strong offer. Submitting an offer that is neither too high or too low can be very tricky. Your best bet is to gather expert advice from the experienced agents at Golden West Properties. It’s also important to negotiate a sale, too. A seller can price a home however they please, but a buyer’s agent can tell you exactly how much a particular home is worth. Have your agent help you negotiate a price.

Read the fine print. There are many things that can surprise you after closing if you’re not diligently reading over your contract. Read everything thoroughly, and make sure that you get all of your agreements in writing and included in the contract as well. The Golden West Properties realtors are the perfect people to help you make sure all of your agreements and needs are met in the contract before you sign it.

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