The process of buying a house might seem complicated at first. It’s no wonder many people often feel that home buying is overwhelming. But if you dream of owning a home or buying a new one, it’s essential you know what to do and who to turn to, right? Plus, the home buying process is not as scary and complicated as it might seem at first. Just check out these straightforward steps to buy a home, and you’re well on your way!
Steps to Buy a Home
Whether you’re becoming a homeowner for the first time or you’re a repeat buyer, buying a house is a financial and emotional decision that requires the experience and support of a team of reliable professionals. I am here to help get you connected. In the maze of forms, financing, inspections, marketing, pricing, and negotiating, it makes sense to work with professionals who know the community and much more.
Getting a Mortgage Pre-approval
Most home buyers and especially first-time home buyers need to finance their home purchase, and a consultation with a mortgage lender is a crucial step in the process. Find out how much you can afford before you begin your home search. If you don’t know a mortgage lender and would like to get some referrals feel free to ask me and I will get a a list of reliable lenders you can choose to work with.
Looking at Homes
A quick search on my site will bring up thousands of homes for sale. Educating yourself on your local market and working with me can help you narrow your priorities and make an informed decision about which home to choose. Previewing the homes will help you make the decision on which you definitely want to see in person.
Choosing a Home
While no one can know for sure what will happen to housing values, if you choose to buy a home that meets your needs and priorities, you’ll be happy living in it for years to come. You will know the feeling when you find the perfect one for you.
Funding your Home
The cost of financing your home purchase is usually greater than the price of the home itself you have to keep in mind that ( interest, closing costs, and taxes are added). Ask you lender questions, get as much information as possible regarding your mortgage options and other costs. Be in frequent contact with your lender and on time with supplying necessary information they request. Being timely will keep everyone on schedule.
Making an Offer
While much attention is paid to the asking price of a home, a proposal called “The offer” to buy includes the price, terms and dates. In some cases, terms can represent thousands of dollars in additional value—or additional costs—for buyers. Also very important to remember that after the offer being accepted “ time is of the essence”. We are bound by dates and deadlines that have to be met.
Protecting you home is crucial. While financing your home Banks will make sure you get home insurance before going to closing, but cash transactions also need to remember that Real estate insurance protects owners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime.
The closing process, which in different parts of the country is also known as “settlement” or “escrow,” is increasingly computerized and automated. This is the time where the seller and the buyer sign the appropriate paper work, the loan packet, release papers, transfer of deeds and many more papers related to the transaction. In practice, closings bring together all of parties who are part of the real estate transaction.
You’ve done it. You’ve looked at properties, made an offer, obtained financing, and gone to closing. Whether you’re a first-time buyer or a repeat buyer, you’ll want to take several more steps. Change the locks ! Remember after moving into your new place its crucial to transfer all the utilities into your name to make sure there is no disruption to the service. Fill out the address changes with the post office and make sure to make copies of your closing document and keep them in a safe place. And remember I am still here for you ! Call me with anything else there might be that I can help you with.