Buying a house in Knoxville TN for the first time can be very exciting. It can also be very tempting to want to jump right into looking at houses and making offers. However, it’s important that you do your homework first. When searching Knoxville TN houses for sale, there are several steps you should take before making an offer.
1. Improve Your Credit Rating. If you’re thinking about buying a house in Knoxville TN, now is the time to start working on your credit. There’s very little you can do a few weeks before closing. However, if you get started six months before you make an offer, you can very likely improve your credit and reduce your interest rate when it comes time to qualify for a loan.
2. Find a Good Buyers Agent. Working with a buyers agent generally doesn’t cost you anything, because the seller usually pays all the commissions when you purchase a home that is listed in the Knoxville MLS, however, there can be exceptions such as a FSBO seller.
Working with a real estate agent gives you a huge advantage. You get access to years of real estate knowledge and experience, plus you have a trained professional to negotiate on your behalf. You have someone with a wide variety of contacts, from lenders to property inspectors you can call on.
3. Get Pre-Approval for a Loan. By getting pre-approved for a loan you will know just how much of a house you can really afford. It’s important to figure out how much you can really afford and work from there. Once you have a pre-approval letter, sellers are much more likely to seriously consider your offer to purchase.
A buyer who’s worked on his credit, is working with a real estate professional and has a pre-approval letter has a far better start on buying a house than a buyer who doesn’t. Follow these three steps and you’ll be well on your way to living in a great new house in Knoxville TN!
The $8,000 first time home buyer tax credit posted in a previous article, is set to expire November 30th of this year. For more information about living in Knoxville TN including current houses for sale, visit the Knoxville TN houses website @ www.davidhamilton.com.
David Hamilton
Ferguson Realtors
865-310-0636 Cell
865-690-1300 Office
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