Buying a home is most likely the biggest financial decision you will ever make. It can be an exciting and challenging experience. Having a real estate professional that takes time to understand your needs is important. As an experienced real estate agent, I work hard to assist you through the entire process of buying home, starting with the mortgage and continuing through closing – and beyond!
Steps to buying your home
1. Why Do You Want To Buy
Have you decided to pay your own mortgage and not your landlord’s? Have you outgrown your current home? Are you looking for an investment property? Would you rather live in a different part of town? There are many reasons why! Having a clear sense of your reasons for buying will help you choose the right property.
Buying a home can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to your ultimate goal. An experienced real estate agent works hard to assist you through the entire process of buying home, starting with the mortgage and continuing through closing – and beyond!
The most of the buyers need to finance their home purchase, and a consultation with a mortgage lender is a very important step in the process. Find out how much you can afford before you begin your home search. Work with your lender to select a right loan for you.
4. Home search
You are pre-approved and ready to begin your search. A great agent can help you choose homes that fit your criteria. The right home will meet all your important needs, and as many of your additional wants as possible.
5. Make an offer
When you found a home you love, the next step is making an offer. Your agent will research similar properties in the neighborhood to help you determine the market value, and fair price, for your home. Your agent will explain and guide you through the offer process.
6. Get a Home Inspection
Most of the times, purchase offers are contingent on a home inspection. This contingency protects you by giving you a chance to renegotiate your offer or withdraw it without penalty in case that the inspection reveals the .major material deficiencies. Your real estate agent will help you to arrange this inspection within a few days of your offer being accepted by the seller.
7. Have the Home Appraised
The lender will arrange an appraiser to provide an independent estimate value of the house you are buying. The appraiser is a member of a third party company that is not directly associated with the lender.
The closing process, also known as “settlement” or “escrow,” brings together a variety of parties who are part of the real estate transaction. At the closing, you will sign all the paperwork required to complete the purchase, including your loan documents. After your loan is funded, and the check is delivered to the seller, you are ready to move into your new home.
During the home buying process, as a buyer, you need to stay in control of your finance, keep in touch with your agent and lender, returning all phone calls, emails, complete all paperwork on time. A great communications is the secret to the smooth transaction.