Although there is no such thing as a routine Ogden real estate transaction, there are some general guidelines that can help you know what to expect and how to proceed when you are ready to buy or sell a home in Ogden.
First, before you even begin looking for your dream Ogden home or St. George lot, go shopping for a mortgage. Find out how much you can borrow. This narrows down the field and time spent looking at properties. Find something you can comfortably afford, not a number you have been talked into.
Once you are pre-approved, there is less risk that the purchase won’t go through and you will appeal to 84123 zip code area home sellers, a plus if there is more than one offer made on the house you want.
Come up with a down payment, usually 15-20 percent of the asking price. The bigger the down payment on the Ogden property, the more of the house you actually own come closing day.
If your house depreciates after you buy it, or you face an uncertain job situation in the future, you could end up owing the lender more than your house is worth, especially if you used an interest only mortgage or other alternative loan. If you’re are forced to sell the home in the future, you don’t want to be upside-down.
Do some research to determine what Salt Lake City homes for sale are selling for in your neighborhood and the listing prices of the homes that appeal to you. When you zero in on an area and house you like, find comparables or recent sales of homes similar to your target house.
Find a real estate agent in Ogden that you can work with. Interview and look at a few that come highly recommended by family members or friends.
I’m Chris Johnson and I am devoted to representing your interests, whether buying or selling in Ogden, and can answer questions and give critical advice.
Finding a licensed, knowledgeable agent you trust is one of the most important things you can do during the Ogden real estate transaction process. You want someone who will protect your best interests in this important financial transaction.