Buying A Home IS Fun!

1. Whether you’re purchasing your first house, moving up to something larger, or downsizing, buying a new home is often both a financial goal and a major event in your life. It’s important to consider your income and the total of your other debt payments (like credit card or car payments) when deciding if you can afford to purchase your own home. Use an affordability calculator to get an idea of how much you can afford.

Think about what you want and need in your new home. How many bedrooms and bathrooms do you need? How much garage space do you need? How big of a yard do you need for Fido? Make a list or two. Really think about what features are essential and which are optional. Make sure you think about not only your current situation, but your future life goals.

Finding an agent who has your best interests at heart, has knowledge of the current marketplace, and has the experience to guide you through the process is of utmost importance! Picking the right realtor makes all the difference and you have come to the right place. Give us a call to help make your real estate goals a reality.

After determining a ballpark figure of how much you can afford, start talking to different lenders and request quotes. Check with us for a list of lenders in your area. You should talk to several lenders so you can compare lender’s fees, interest rates, and service. Always remember, many lenders have different rates, but almost all of them have different fees associated with originating your new mortgage.

Once you have obtained a mortgage pre-approval and made a list of your must-haves, you are ready to begin your home search. Together we will prepare a list of homes to visit. The list will include homes you specifically request to see, and others we have researched that you may not know about. Then the fun begins! We will schedule a time to go see all of those wonderful properties we have on “the” list.

You have found the one! Now it’s time to negotiate. We will provide information showing what comparable homes have sold for recently. This information will help you make an appropriate offer. Make sure to include inspection and mortgage contingencies in your written offer.

Once your offer has been submitted to the seller, there may be a bit of back-and-forth until there is a meeting of the minds on price and terms. We will help you negotiate the best possible terms for your new home. After you and the seller agree, the home will be under contract, and you’ll make an earnest money deposit, which is money that goes in escrow to give the seller a sign of good faith.

A home inspection will identify defects in your new home. It’s good to know what issues a home may have before committing to that big purchase. Once you have selected a home inspector, he / she will inspect the home and provide a written report. Discuss the results with your REALTOR to see if you’d like any of the defects to be repaired by the seller prior to closing. The seller will review your request and decide if they are willing to make those repairs. After an agreement is reached, the sale can move to the appraisal process.

One of the most important steps in getting the financing you need is the home appraisal. This expert opinion from a certified, state-licensed professional, who determines the value of a piece of property provides a third party valuation for the mortgage company and you. It protects you from overpaying for a home and it protects the bank’s investment.

We will help you with any additional negotiations that arise based on the inspection report or the appraisal. Once you are satisfied with the property and final contract, we can tie up loose ends and move on to closing.

During this time you will have to provide extra documentation to your lender and the title company. It is very important to provide any requested documentation as quickly as possible. Any delays may cause a delay in our closing.

After all the hard work and perseverance the day has finally come! At this stage, you will sign all mortgage documents and any other paperwork needed to complete the transaction. The title of the home, in the form of a deed, will also be transferred from the seller to you as the buyer. Congratulations! You have closed the deal – you are officially a homeowner!