There may be several reasons that you are considering buying a home……

you are tired of paying rent;

you are wanting to be a home owner for the first time;

you are in need of a bigger home;

you want a bigger yard;

you want to live in a different neighborhood;

you need a smaller home;

you are tired of doing yard work;

you want to be in a  different school district;

you want to be closer to your family;

you want to be closer to work;

you want to be farther away from the city;

you have come into some money and want to invest in real estate;

you want a second home

 

Whatever the reason, the following are steps  to getting that home:

1. Talk to a Lender. The very first thing is to find out what you can afford. Talk to several lenders, compare them and ask for “Good Faith Estimate” so that you can see what kind of fees are included in what they are quoting.  They will be able to tell you what kind of home you can purchase by the information you give them.  Once you have decided which lender you would like to work with, have the lender provide you with a pre approval letter (you will probably need this later when making an offer on a home).  This gives you a better position in making an offer on a home when the sellers know you are already qualified financially.

2. Contact a preferred Real Estate Agent. Search for a good, professional  agent by asking friends, family or work associates for a referral OR search on the internet for an agent that has something in common with you or your needs. You want to make sure that you are working with someone that you like, that you feel comfortable with and that will do a good job for you and that is familiar with the area you are interested in. Even though you can find and buy a house without a professional agent, historically it has been established that a REALTOR can get you the best price, help you sift through all of the paperwork involved and advise you on all aspects of the home purchase. This is what they are trained to do and the service is for FREE! You would be working with a Buyer’s Agent, who is not paid until you purchase your home and is paid through the seller.

3.Sell Your Current Home First. If you have a home to sell before you purchase a new one, your agent may be able to sell your current home as well as finding you a new home. If you are from another area, your agent may be able to refer you to a local agent in your area. The best scenario is to already have your home under contract or to have sold it already. Ask your preferred agent about this.

4. Give a list of Criteria for a home-Absolutes and Must Haves and Wish Lists. Once an agent is chosen,  and you have put your current house on the market or sold it, give them a  list of criteria for  “Home Absolutes and Must Haves and Wish Fors”. Your agent will come up with properties that meet your needs or wants. You may want to explore the areas first on your own, to get a feel for the neighborhoods and eliminate those that you are definitely not interested in or your agent can take you on a tour of the qualifying homes and areas  so that you can eliminate some. Once you have decided which homes you are definitely interested in, your agent will set up appointments to take a look at the inside of the homes.  You will visit the properties and refine the list of homes until you find the right one.

4. Appointments made and visit properties   We will set up appointments to see your top picks and then help you with the process by providing additional information on the property and the area or neighborhood you are visiting. We can be a sounding board for the likes and dislikes of the different properties and can give you a general   idea of the resale values for the ones that you are narrowing down. This is based on an historical trend.

5. Make an offer   Once you decide on the home for you, your agent can advise you from our knowledge of the market to guide your offering price. I can tell you what similar homes sold for, and I will help you write an offer that is likely to be accepted by the seller. Some homes are listed at a price that may be lower or higher than the price at which it will actually sell. From years of experience, I can help you understand the possible costs for any deferred maintenance and repairs before you decide to make an offer. I’ll help you put in safeguards to your purchase offer, such as loan contingencies and physical inspection contingencies. Since this can be an emotional situation, it is especially important to have your real estate agent negotiate on your behalf with the seller.

6. Scheduling inspections, arrangements for closing.  Once the offer is accepted, I will make arrangements for a closing attorney or settlement company, schedule inspections, coordinate paper work for the transaction, follow up on all tasks associated with the buying process, such as repair negotiations, lender  approval flow,  provide vendor lists and utility information for the area, help keep all parts of the contract moving and achieve deadlines within the legal limits required.

Sometimes things do not run as smoothly as anticipated, such as the seller not being able to move out when he is supposed to or something in the new home is not working properly. This is where it is important to have a realtor so that we can handle anything that may arise and make this process a smooth transition as possible. Shortly before the actual closing date, you should receive a closing statement, which will be reviewed with your agent to make sure everything looks correct. We are available at any time with any questions that the buyer may have during the entire process. An agent’s  job is to make this whole process easy for you!

7. Final Walk Thru  Before the actual closing, it is extremely important for the buyer to take a final walk through the house to make sure that everything is in working order or is in the same condition as agreed on during the contractual process.

8. Closing and delivery of Keys. The closing day should be a matter of formality, where you know what kind of funds will be needed at the closing table and you have had time to review the closing statement that the closing attorney or settlement company has provided. You will be required to bring a certified check for funds needed and a picture ID. Your agent should attend the closing to make sure all runs smoothly and that nothing is overlooked.  At the closing, all paperwork is gone over and signed through the advice of the attorney or settlement company. The deed of trust for the home is recorded at the courthouse of the town the house is located in and once that deed is recorded, then the keys will be delivered to you.

ARE YOU READY TO BUY?  CALL OR EMAIL ME WITH ANY FURTHER QUESTIONS AND BE SURE TO ABOUT MY CLOSING AND REFERRAL GIFTS!