Indiana Relocate Online Resources: Real Estate Tips

Buying a home can be the most rewarding financial decision you will ever make. Whether you're a first-time buyer or more experienced, it's worth your time to review the steps in purchasing your next home.

Search for your "best place to live" based on your preferences: Cnn.com Search Tool

Helpful articles and tips: Real Estate Journal

From MSN's MoneyCentral: 8 Big Mortgage Mistakes and How to Avoid Them

Home Inspections, Home improvement guidance from SoundHome.com.

Real Estate Questions & Answers

(From Inman News, the nation's leading independent real estate news service)

Buying Your Home
Investing in Real Estate
    Evaluating what to invest in, tax considerations,
    and how to do it.
Owning Real Estate:
    Maintaining and improving your home, staying financially
    healthy and other ownership issues.
Mortgage Loan Options
Selling Your Home: "How to" Tips.

See additional financial tips on Resources - Calculators.

The Top Home Buying Tips

1. Check your credit reports for errors and correct them.
   Lenders look at your credit scores to see how well you've handled credit in the past. Credit scores are based on information in your credit report, which look at your credit payment history. The three major credit bureaus are: Experian, Equifax and TransUnion. These bureaus gather your payment history from your creditors. Any errors could cost you many dollars in extra interest or a denial of credit.
2. Explore your loan options.
   With credit report in hand, it's time to research the mortgage industry. The traditional 30-year, fixed interest rate loan may not be the best option for your next home purchase. There's a wide range of loan products on the market now with varying costs to you. It pays to thoroughly research which option fits your situation.
3. Get pre-approved by a legitimate lender.
   To get pre-approved means you've had your financial situation reviewed and verified by a lender. It gives you an idea of how much house you can afford. When submitting an offer, the seller knows you are already in a position to qualify for loan. After sitting down with a loan professional, you will also have a clear idea of your price range.
4. Make a list of "absolute must haves" and "wants" for your next home before tackling the market.
   Also know what's a deal breaker: Too many renovations needed, more than a 30-minute commute from your work, too many steps? Share your list with your real estate agent. It will help narrow your search.
5. Use a Buyer's agent - a realtor who's working for you (not just the seller).
   Now that you have an idea of your price range and your dream home list, choose your real estate agent. We recommend you use a Buyer's agent, who will be focused on getting you the best price. A Seller's agent will, of course, be looking out for the best interests of the seller. When it comes time to make an offer, your Buyer's agent will help you determine the best price and terms to offer for a property. When you're relocating to Indiana, the real estate agent we match you with will be representing YOU as a Buyer's agent. Your Buyer's agent will be paid out of the Seller's agent's commission.
6. Don't buy a "too large" home.
   Make sure your future home fits your budget and time constraints. Do you want a large yard to maintain? Do you have the resources to make those monthly mortgage payments, as well as taxes, insurance, utility bills, neighborhood/condo association fees and maintenance costs?
7. Get a professional home inspection and property survey.
   After you've made your offer, a home inspection will give you a professional's opinion about the condition of your intended property. It's also a good idea to accompany the inspector during the inspection to ask questions and to get a better idea of the property's condition yourself. Keep in mind that most properties will need some kind of repair, so don't get too focused on a small repair that the seller may be reluctant to do. Let your realtor handle any negotiations. A property survey is required by your lender to make sure there are no property-line issues (zoning violations or a neighbor's fence placed over the property line). The seller will need to correct any problems.
   Another idea is to look for a seller who offers a home warranty. Read the fine print to see what the warranty will cover, the period of time it covers, and if it can be renewed.
8. Read the fine print before signing.
   Make sure you understand the sale contract thoroughly and ask questions if you don't. Your realtor will walk you through the closing process and make sure you have a clear idea of the costs associated with closing on your new home.
9. Don't run up your credit card bill or move money around.
   As tempting as it is to buy that new car or furniture in anticipation of purchasing a new home, put off that credit purchase. It could damage your ability to get a mortgage pre-approval. Likewise, your bank or other financial source will be taking a close look at your financial situation. Moving money around could threaten your loan approval.

For a free personal relocation package for Indiana, please fill out our Indiana relocation form. There's no obligation.

For personal relocation package for Indiana, please fill out our Indiana relocation form. There's no obligation, and it's free!