Buyers Meeting Prep: Making Informed Financial Decisions

If you’re thinking about buying a home, then you’re also pursuing an investment—an asset to be stewarded over time. Let’s proceed in a way that satisfies your needs financially as well as logistically and aesthetically.

We will have an in-depth meeting to lay out your priorities but before we do, there are several steps for you to take.

Big-picture brainstorm

You and I will touch base by phone for about twenty minutes to lay out your big-picture goals. We’ll brainstorm key questions we need to answer. For example:

  • Given the season and pace of the market, might you have a better edge if you dive in now and break your lease, or hold off until you have more funds from an upcoming bonus?
  • Do you need to sell to buy? If so, what’s the best way to time each transaction?

From this short conversation, you’ll be ready to fill out the buying questionnaire and explore your financing options.

Buying questionnaire

Buyers find it useful to lay out the details they know at this juncture (e.g., number of bedrooms) and don’t yet know (e.g., alternative sources of downpayment money). Where two people are buying together, it helps them identify shared (or diverging) needs and concerns.

My buying questionnaire will help you explore all of these questions and it will guide our discussions going forward.

Financing options

Even if you’re buying with cash, you will want to explore financing options and get a loan preapproval. Talking with a loan officer can help you determine the best ways to structure your financing given:

  • the funds you have on hand
  • where you’re buying
  • the type of property (condo, single, multifamily)

All of these questions can affect your buying power.

We also want to catch any issues up front that you may need to resolve before getting a loan (e.g., errors on a credit report or which debts to pay off versus keep to improve your credit score).

When you have these things in place, let’s meet for your buyers meeting.