I’ve got some very valuable information to share today with all the homebuyers out there. This is the first installment into a two-part series that will teach you what you need to know as you move through the home buying process.

One of the biggest mistakes I see buyers make is going out looking for homes without being pre-approved. People want to see homes immediately, but it’s much wiser to have a conversation with a loan officer first. If you’re not pre-approved, you won’t be able to make an offer that anyone takes seriously. If a listing agent doesn’t see a lender letter with your offer, it will not get accepted in this market.

“The listing agent is working on the seller’s behalf, not yours.”

Why do you want to get this pre-approval? First and foremost, you want to know exactly how much you can afford. Whether it’s $250,000 or $500,000, it’s important to understand what that will equate to on your monthly payment. If you tell me you’re comfortable with payments up to $3,000 per month, even if you’re approved for a much higher amount, you’ll know the price of the home you can afford based on the monthly payment. You’ll also be able to find out what you’ll need for your down payment, closing costs, and what interest rate you’ll pay throughout the life of your loan.

Once you have everything squared away with your lender, it’s time to sit down with a great agent like myself who can explain the process in a buyer’s consultation. We’ll walk you through the process so that you’re not kept in the dark.

One of the biggest no-nos when it comes to buying a home is working with a listing agent to help you buy. A lot of people think they’ll just call the agent that’s on a sign in a home’s yard, but there’s something you need to understand about these agents: They’re working on behalf of the seller and in their best interests. You need someone on your side to advocate for you and make sure you get the best price and terms possible on your purchase.

If you have any questions for me in the meantime or need help buying or selling a home in the Austin area, don’t hesitate to reach out and give me a call or send me an email. I look forward to hearing from you soon.