Don’t Miss Your Chance to Move this Summer
If you want to move this summer to The Bahamas, but you haven’t been able to so far, it’s not too late. Take advantage of the summer sun and you can still get into a new home before the season is out.
Here’s how to start.
1. Get preapproved.
Whether you’re currently renting or you already own a home, getting preapproval from your bank for a mortgage on your new home is the best first step. Give on of our agents a call and they arrange a meeting with a mortgage officer at your bank and help get you prepared by giving you a checklist of the documentation you will need to take to the appointment:- your financial documentation such as pay stubs, and bank statements, as well as a list of monthly debts and in some cases, references.
Why should you start with a preapproval? Once the mortgage officer reviews and analyses your documents, you will be given a letter of preapproval which will give you an idea of what you can afford to purchase, and when it’s time to get financing for your purchase, the process will be faster and easier — critical for finishing your move before summer is over.
2a. Current homeowners, list your home right away.
While you’re getting your preapproval for your next mortgage, you should list your current home for sale. Summer sales tend to move faster (and sometimes sell for more!) than houses listed during other times of the year. So if you list now, you might be able to fund your next purchase and get into a new home before the summer is over.
Looking for the perfect listing agent? Your search is over! As your local real estate experts, Morley agents can’t wait to sell your home for top dollar on your timeline. Get in touch to get started.
2b. Renters, take a look at your lease.
While you’re getting preapproved for a mortgage, you should look at the details of your lease. When does it expire, and what are the penalties if you want to vacate early? Also, make sure you give your landlord enough notice. Most lease agreements stipulate that you give at least 30 days' notice, in writing, before you move out. Make sure that you understand the terms of your lease so that you don’t end up with any unexpected expenses when you move out.
3. Make your must-have list.
Before you start shopping, you should make a must-have and a must-not-have list. Knowing what you want and don’t want in a property will help your real estate agent find you the perfect home faster. Your list should include desired amenities like location, size, number of bedrooms and bathrooms, and any other features you need your property to have before you’ll consider it. You should also know your price range (based on your preapproval letter), and anything that you absolutely don’t want. Try to be specific enough to narrow down the scope of your search, but flexible enough that it’s not impossible to find your new home.
4. Start shopping with your real estate agent.
Get in touch with one of our Morley agents with your ideal timeline and wishlist. You’ll also want to provide the amount on your preapproval letter to help start finding you the perfect property. Once you’ve found a home that you want to buy, your Morley agent will help you construct a highly competitive offer so you can close the deal quickly. You’ll be living in your new place and living in your new lifestyle before you know it!