Buying A Home

Buying a home is one of the most exciting and sometime overwhelming experiences you will ever go through. When buying, it’s crucial to have all the available resources necessary to make a well-informed decision. Given that buying a home is such a big step, it’s very important to educate and prepare yourself as much as possible. Buying a home includes the following steps:

Contact our Team

It’s important to enlist the help of a trusted real estate professional who’ll be able to provide expert guidance at each step of the buying process. No two transactions are alike, and having a professional represent you though the process of contract negotiations, home inspections, overseeing the appraisal process, escrow documents and closing process will help ease your stress throughout.

Getting Prequalified for a Home

Knowing ahead of time the amount of loan you qualify for can take much of the mystery and guesswork out of the home-buying process. The lender will tell you how much you’ll need for a down payment on the type of loan you apply for and estimate the closing costs.

Searching for your Ideal Home

The key to the home search process is knowing what you’re looking for. Among other things, that means distinguishing between “must-haves” and “like-to-haves”. There are many benefits to starting the search process at a real estate website, such as the one we provide. You can view many homes and their details, take video tours and access neighborhood information. However, it’s also important to view homes in person. While the property details may seem perfect online, homes can be very different in terms of layout, design, area and other aspects. Ideally, you should view homes with the help of a real estate professional who’ll set up a viewing of the homes you are interested in,  notice things you might miss, and provide market analysis.

Make an offer

Once you have found the home you would like to buy, it’s time to make an offer! With the help of your agent a purchase contract will be prepared for presentation to the seller. This agreement will include your terms of the purchase including how much you are offering for the home and any contingencies, such as home inspections or lender appraisal. Upon completion of the Purchase contract your agent will contact the seller’s
agent and present your offer. The seller will evaluate the offer then accept the terms or prepare a counter offer. If a counter offer is given, your agent and the seller’s agent will begin negotiations until both you and the seller agree to the purchase terms. Once all is agreed upon, the closing process begins.

The Home Inspection and appraisal Process

A standard home inspection is a visual examination of the physical structure and major interior systems. It is not a guarantee or insurance policy on the condition of the property. The inspector will review the home and potential problems will be noted in the home inspection report. A real estate appraisal is simply an expert opinion of a certified, state- licensed professional who determines the value of a piece of property. A home appraisal protects the bank from getting stuck with property that’s worth less than they’ve invested. And it protects you, the buyer, from paying too much for a house.

Securing Financing

While your home is in the closing process you will need to return to your chosen lender to finalize mortgage details in order to close the deal. This means finalizing your down payment, interest rate, regular payment schedule and all other financial conditions associated with the closing.

Title and Escrow Process

If you’ve efficiently taken care of everything connected with purchasing your new home, taking ownership should be a positive joy with no surprises. You will need a historical review of all legal documents relating to ownership of the property. This will ensure that there are no claims against the title of the property. It’s also necessary to purchase Title Insurance for protection in the event of errors in the records or mistakes in the review process.

Closing Date

On the closing date you will meet with an escrow agent to verify and sign all the paperwork required to complete the transaction. The settlement will include paying your closing costs, legal fees, property adjustments and transfer taxes. At that point, you’ll receive the property title and copies of all documentation pertaining to the purchase. In most cases, possession date will fall within a few days. Your agent will meet with you and provide you with the keys to your new home!

Find Your Next Dream Home

Start You Search Here

Need A Loan?

Apply Today!
Get In Touch
Follow Us On Social
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram