Your Financial Game Plan

There are many approaches to purchasing property, and your financial game plan provides detailed coordination for accomplishing your objectives. Being pre-qualified with your mortgage lender or being in a position to perform as an all-cash buyer will put your best foot forward, but there are other options and considerations to keep in mind.

Ours is an active market, and it helps to already have your ducks in a row so that you will not miss out on an opportunity to purchase the perfect property because you have to pause to get financing in place. Many of my clients arrive for their first property tour having already consulted extensively with their financial advisor or other financing professional.

In our unusually diverse market, a local lending source is often able to be more flexible than one from further afield. Choosing to go with a local lender may influence your purchasing process in a positive way, and is worth considering if you do not already have your financing lined up.

If you are first-time buyer, or have not purchased real property for several years, you may have access to free homebuyer classes that offer certificates that can help reduce your closing costs. If you are a more seasoned buyer, you may have several options for making the purchase, whether as an individual, as part of an LLC, in joint tenancy with right of survivorship, or as a type of living trust, to name a few.