1) You Decide To Buy A Home
There are solid financial reasons to support your decision to buy a home, and, among these, equity buildup, value appreciation, and tax benefits stand out.
It’s very likely you can afford to buy if you are paying rent
There is never a wrong time to buy the right home
Find a good buy and make sure you have the financial ability to hold it for the long run
The lack of a substantial down payment doesn’t prevent you from purchasing a home
Your credit score doesn’t need to be perfect to buy a home
The best way to get closer to buying your dream home is to buy your first home now
Call me to find out if you are eligible to purchase a home – you won’t know unless you try
It is the responsibility of your real estate agent to coordinate all the professionals involved in your home purchase and to act as the advocate for you and your interests throughout.
Educates you about your market area
Listen to your wants and needs
Guides you to homes that fit your criteria
Coordinates the work of other needed professionals
Negotiates on your behalf
Checks and double-checks paperwork and deadlines
Solves any problems that may arise
The thought of home ownership is exciting while the idea of taking on a mortgage may be downright terrifying. It only takes a few days to get financing preapproval and will give you more power when you submit an offer.
Choose a loan officer or mortgage specialist
Submit a loan application
Get preapproved, NOT prequalified
Determine how much you want to spend
Submit an accepted contract to lender
Loan officer orders an appraisal on home
Obtain funding at closing
Hopping in the car to look at homes is probably the most exciting part of the home-buying process; however, driving around is fun for only so long. That’s why it’s important to carefully assess your values, wants, and needs, before jumping in the car.
Drive through the neighborhoods to determine the area
Research the school district for kids and resale value
Determine the lot size and size of home; one or two-story
How many bedrooms and bathrooms
New home construction or resale home
Make a list of must-have features and amenities
Have a wish list of items not on must have list
Drive by homes before scheduling appointment
You found your dream home, so now what? Time to write an offer and put on your businessperson hat. You need to approach this part of the process with a cool head and a realistic perspective of your market. The three basic components of an offer are price, terms, and contingencies. Your agent’s market research will guide your decision on the fair price to offer and the terms to be included in the offer.
A schedule of contingencies that has to happen before closing
Items that convey with the house when the seller leaves
Home warranty company, plan, and amount for the seller to pay
How much earnest money to put down for serious offer
The days and amount for the option period
Seller paid closing costs, if any, to be written into the contract
Lender determines a realistic closing date
Unlike most major purchases, once you buy a home, you can’t return it if something breaks or doesn’t quite work like it should.
Your agent should schedule the home inspection before going under contract
Days for option period needs to accommodate inspection and repair negotiations
Your inspector will bring to your attention any concerning issues
Don’t sweat the small stuff that can easily be fixed
Get a second opinion for any major issues and walk away if confirmed
When you hear the words “Clear to Close,” it will be music to your ears. Those words are the lender’s confirmation of your continued credit-worthiness and of the home’s value. This entails a survey, appraisal, title search, and a final check of your credit and finance. Although it’s not a done deal until funding, you should be able to rest easy at this point.
Schedule your closing with the title company
Wire the required funds to close the day before
Conduct a final walk-through
Review the closing statement for all the contract terms
Bring your Driver’s License to the closing