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Buying a home is likely the largest investment you’ll ever make, we'll make sure it's done right.
Buying a home is not like buying a car, a mutual fund or other commodity. It can be a life-changing event. Real estate agents fully understand the real estate process – and just as important, they understand the local market.
Of course they know the right steps to take, but they can also help you avoid a misstep in your home purchase. If a new freeway is going to be built a few blocks away, they’ll probably know it. If you’re unsure about school districts, they’ll be able to direct you to answers. If you’re unsure of a builder’s reputation, they’ll know how you can confirm it.
Your REALTOR® also performs another important function: minimizing the emotion involved in a home transaction. You may be in love with a home, but your agent can point out factors that might not make it right for you.
Make a list or brainstorm about the features and amenities that you find most appealing in a new home.
Your REALTOR® can help you shop for the best interest rate and terms and, if you wish, suggest mortgage lenders.
Your REALTOR® can assist you with a list of reputable lenders. Your lender should be able to provide you with a pre-approval letter, along with a “good faith estimate” of all closing costs associated with your mortgage.
It is important as a buyer that you establish some kind of financing before you make any serious home offer. The “pre-approval” process allows lenders to take a look at your finances and credit history in order to make a general assumption about your loan amount.
The pre-approval process is when a lender looks at all of your finances and determines the amount of money you could afford for a mortgage. Doing your homework about loans will save you both time and money. There are thousands of loans out there to choose from, but it is important to keep in mind several key factors that will help you along the way:
Some things to consider while compiling your criteria:
Right here on ServiceRealEstate.biz you can find listings that meet your criteria. Identify properties that seem to be fit needs and wants, take an afternoon and go on a driving tour. See what’s available in your price range and explore neighborhoods. Looking for a home in an area where you feel comfortable is key.
At this stage, try not to become emotionally attached to a home. Your offer may not be accepted for any number of reasons. Have backup homes in mind. Be prepared to negotiate through your agent with the sellers.
Closings usually take about 30-45 days to complete. This mainly depends on the buyer’s financing availability, successful home inspection completion, and various lender conditions (ex. title search, title insurance, termite inspections, surveys and appraisals).
The closing process is the transfer of the title of the property from the buyer to the seller. The seller will receive the keys to the home or the deed to the land, while the seller receives payment for the property. This takes place the day after closing and is called Recording. The amount the seller receives is based upon the amount that is still owed on the mortgage, any outstanding fees or taxes, and any additional closing costs. All legal papers are filed with the local record office.
It is this step where the buyers and sellers do very little. It is important that the buyer take a final walk through the property to make sure the property’s condition as not changed. It is equally important for both the buyer and seller to make sure the paperwork they are signing reflects the agreement of the original sale.
