Are You Ready, Willing and Able to Buy a Home in Charlotte NC?
Are you thinking about buying a home in Charlotte NC? If so, are you ready, willing and able to buy a home? In today's real estate market, it make sense financially, logistically AND emotionally to be capable of closing the deal BEFORE you find your dream home. It is heart-breaking and often costly to find the perfect home (willing), only to find that you are not ready and able to buy that home!
So what is a ready, willing and able home buyer?
A READY Home Buyer
- A home buyer who has spoken with a lender and obtained pre-approval (BEFORE looking at homes!) A good lender will pull credit, verify income and assets, and help the buyer determine a comfortable budget for their new mortgage.
- A buyer who is gainfully employed and can qualify for a mortgage, or who has enough money to pay CASH for the home.
- A buyer who doesn't have home he MUST sell first in order to buy another one. Sellers are much less likely in this market to accept a contingent offer on their home for sale, especially if the buyer's home is not even on the market!
- A buyer who is SERIOUS about about buying a home, and is not out "just looking" to see what's out there.
- A buyer who has identified his/her needs and wants in a home or neighborhood, and has shared those ideas with a trusted Realtor. A buyer who is willing to prioritize needs and wants will be able to focus on the right neighborhoods and homes.
- A buyer who will make an offer on a home when he/she finds the right one. Buying a home is often the biggest purchase someone will ever make. A willing buyer understands the process and is emotionally ready to sign on the big closing day!
- The most important - the buyer is pre-approved for a mortgage or has loan commitment for the purchase price of the home. An able buyer doesn't just assume that he/she can afford a home!
- An able buyer has provided pay stubs, tax returns, bank/investment statements, verification of employment, credit report...and has passed muster with the underwriters! This process can take a while, and an able buyer has provided all the documentation requested by the lender
- The buyer has sufficient funds for a down payment and closing costs, either through savings or other liquid assets, or through a gift that does not have to be re-paid.
- The buyer is prepared to move forward with the terms and conditions of the purchase contract - including meeting deadlines for closing date and due diligence date.