Buying a home can be both exciting and rewarding, and possibly one of your biggest nightmares. Here are some tips that may make that home buying experience less stressful...

Probably the most important step in the process since you and your Realtor will be partners in what may be the single largest purchase of your life. Trust and faith in this relationship will be paramount. Your Realtor will be handling any and all issues that come up with your purchase and will protect your interests. He/She should be driven to understand your needs, your wants, at the purchase price you have in mind. Don't settle for just anyone, demand a full-time professional. Don't be embarrassed or afraid to ask for references. A reputable Realtor will welcome your concerns. And be sure the Realtor has full knowledge of the area and communities you're interested in seeing.

Discuss your exact needs (bedrooms, baths, garage size, kitchen layout, lot size, etc.), what locations or communities you're interested in, your price range and your time line. Usually, it takes 30 to 45 days from the signing of the sales contract to settlement.

Define what your availability is for inspection of properties and the mode of communications between you and your Realtor, for example, e-mail, day and evening phone numbers, etc. Also be specific as to what times you do not want to be contacted. Knowing this upfront can save some possible phone calls at inappropriate times.

Ask your Realtor to explain the various financing options and give you references for lenders, not just one, but up to three. He/she should explain the differences between the various loan programs available and answer any questions you have.

Have your Realtor provide you with copies of all the expected paperwork ahead of time so that you will have some understanding of what to expect and have the agent explain each form and its purpose.

Have your Realtor explain the difference between responsibilities of a Buyer's Representative and a Seller's Representative and then sign then be prepared to sign the Buyer Broker's Agreement.   » See why you want to work with a Buyer's Broker

Keep in mind that viewing too many properties in one day may cause them to 'run together' and keeping track of the specifics of each property you have seen can tend to become difficult. Take that list of your specific needs and check off those items as you see them in each property you view. Have your Realtor provide you with printouts of the properties prior to your inspection. Make notes on those printouts so that you can 'connect' your wants to the specific property for later review. Be sure to tell your Realtor which properties you liked and which properties you have eliminated.

When making an offer on a property, it is important to decide ahead of time how much you are willing to pay at what terms for the house. You already know what the fair market value is, now you have to decide:

• what price will you offer
• how much earnest money deposit you will offer
• what personal property you wish to have conveyed (everything is negotiable)
• how much you are asking the seller to pay towards your closing costs
• when you plan to settle
• what inspections you plan to have done

When negotiating with the seller, remember not to take anything personally. Try to put yourself in the seller's shoes and be somewhat reasonable. Figure out what's not negotiable and be willing to give a little on the things that aren't. Your Realtor should be able to provide you with ample advice as to how to structure your offer. Once your offer has been presented, the seller will either accept your offer outright, reject your offer outright, or counter your offer. The counter process can go back and forth many times. It's important for all parties to keep their cool and focus on the goal.

When you present your offer to the seller it is a usual custom to ask for time to be allowed to have inspections done to the property. I cannot express the utmost importance to allow time for home inspections. In doing so, you have written what is called a contingent offer. Offers can be contingent on your loan approval from your lender, property inspections, the receipt of acceptable homeowners or condo association disclosure packets, the sale of property, to name a few. It is important that all deadlines be met and that all contingencies are removed exactly the way the contract specifies. Your Realtor is responsible for making sure this is done correctly.

Your sales contracts should give you the right to one final inspection prior to settlement. This final inspection offers you a 'last chance' to find any outstanding problems and have the seller correct them. Most contracts read that all electrical and plumbing systems, appliances, heating & air conditioning must be in working order at time of settlement. These are the items you check at walk-through. You are also checking for any other items that the seller previously agreed to fix or replace. If anything is found to be defective or missing, you have several options:

• the seller can remedy the problem prior to settlement
• the seller can credit you the amount of money it would take to hire someone to remedy the problem
• the seller can promise to correct the problem and place into escrow with the attorney, the amount of money you will need to pay someone else if the seller does not perform as promised

On new home purchases, the process is a little different. The builder will generally do a walk-through with you approximately 1-2 weeks prior to settlement resulting in a "punch-out list". Hopefully, they will get everything on the punch-out list completed prior to settlement. If not, most new homes contracts allow the builder to complete whatever minor items have been noted in a "reasonable" period of time, generally 3 months.

This is commonly known to be the day you "sign your life away"! You will be signing, what seems to be a never-ending stream of papers, including all the loan documentation. The person conducting settlement will be able to explain every document to you as you proceed in this process, in a satisfactory manner. Never feel intimidated! If you don't understand something then...don't sign it. Your Realtor should be able to explain everything. If you like, you can request blank copies of the documents you will be signing in advance so that you can carefully review them. You will decide at settlement whether your want owner's title coverage or just lender's. You will have to present whatever down payment & closing cost funds you were expected to pay. This check must be certified - they will generally not accept a personal check.

Let Nasi guide you through the maze and make that important purchase as hassle free as possible. E-mail or call today at 302-249-7917 or toll free 1-877-310-SOLD.