Preparation

Decide
To Buy

Preparation

Choosing A
Real Estate
Agent

Time to Go
Shopping

Escrow
Inspections
& Appraisals

Moving In

Before you start shopping for your property, it is a good idea to make some preparations.Build Your Green File.
A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:
A green file contains all your important financial documents. You will need it to secure financing for your property. The typical green file should contain:
- Financial statements
- Bank accounts
- Investments
- Credit cards
- Auto loans
- Recent pay stubs
- Tax returns for two years
- Copies of leases for investment properties
- 401K statements, life insurance, stocks, bonds, and mutual account information
Check Your Credit Rating.
Your credit score will have a huge impact on what type of property you can buy, and at what price.
Be Careful With Your Finances.
Now is not a good time to make sudden career changes or large purchases. You want to approach your property purchase from a position of financial stability.