top of page

House Hunting - Ready, Set....Go?

The time has finally arrived and your dream of owning your own home is becoming a reality. You are at a point in your life that you have decided that renting a place to live is not in our best interest anymore. What you want now is a place you will call home – your home. This home will be a place where you decide if it’s ok to paint the walls any color you want and not have to ask anyone if you can have a cat and a dog. You’ve been searching online for just the right home, cruising neighborhoods looking for the “that’s it!” house and picturing yourself on your shady new porch. You know there’s plenty to do before you get to the really serious part of house hunting, but it’s hard to resist. You are ready to make the jump into home ownership now…. or are you?

First and foremost, you must make sure that your financial house is in order. Will you be able to afford the purchase and continuing maintenance of a home? Home ownership is a long-term investment and you have to be able to ride the storms if any emergencies should come up. With proper planning and budgeting you will now have a clear picture as to what you can realistically afford. So now the house-hunting can begin…right?

Show me the money!

Ok, so now, you’re in a great place money-wise. You are debt-free, and you have an emergency fund plus a nice down payment and want to get a mortgage—or you are going to pay all cash. What happens next?

If you are planning on paying cash for a home most sellers typically demand a POF –proof of funds from a buyer when submitting a cash offer. A cash buyer is a person or entity who has cash on hand to close. There is no loan involved, no mortgage. Just cash. POF is a document or bank statement proving that a person has the financial ability to perform a transaction. In this case it is evidence that you, the buyer, have the funds to purchase the home from the earnest money deposit to the closing of the transaction. Your real estate agent will advise you as to what exact form(s) will be needed. Having your POF ready even before you go online and begin your first home search is extremely important. Why? Because in some markets, homes get listed and sold in the very same day. You don’t want to waste anytime submitting an offer on the home of your dreams. Like the Scout motto says: Be Prepared.

The same goes for the home buyer who will be financing their home purchase. That’s when you’ll appreciate having prepared yourself by getting pre-approved for a mortgage loan. You don’t want a deal for your perfect dream home to go south just because you didn’t have your ducks in a row. In fact, some sellers won’t even let you see their home without POF or a pre-approval letter.

Now you are READY, SET and prepared to GO out with your realtor and find your home. I promise all this extra effort will be worth it. Good luck and may the POF or Pre-Approval be with you!

All the best,


CENTURY 21 Ocean | Sales Associate

#firsttimehomebuyer #househunting #homebuyertips #mortgage #owingahome #realestate



bottom of page