Buy A Home

Eight Steps To Buying A Home

Eight Steps to Buy A Home

When you are starting to consider the home buying process, there are lots of steps involved. I have created an outline of easy to understand steps and when you hire me as your Realtor and I will be there every step of the way to navigate the process.

Step 1

Making the decision to buy.

While there are many good reasons for you to buy a home, wealth building ranks among the top of the list. We call home ownership the best “accidental investment” most people ever make. But, we believe when it is done right, home ownership becomes an “intentional investment” that lays the foundation for a life of financial security and personal choice. 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.
Step 2

Hire the right real estate agent.

The typical real estate transaction involves at least two dozen separate individuals-insurance assessors, mortgage brokers and underwriters, inspectors, appraisers, escrow officers, buyer’s agents, seller’s agents, bankers, title researchers, and a number of other individuals whose actions and decisions have to be orchestrated in order to perform in harmony and get a home sale closed. It is the responsibility of your real estate agent to expertly coordinate all the professionals involved in your home purchase and to act as the advocate for you and your interests throughout.
Step 3

Secure financing.

While you may find the thought of home ownership thrilling, the thought of taking on a mortgage may be downright chilling. Many first-time buyers start out confused about the process or nervous about making such a large financial commitment. From start to finish, you will follow a six-step, easy-to-understand process to securing the financing for your first home.
Step 4

Find your home.

You may think that shopping for homes starts with jumping in the car and driving all over town. And it’s true that hopping in the car to go look is probably the most exciting part of the home-buying process. However, driving around is fun for only so long-if weeks go by without finding what you’re looking for, the fun can fade pretty fast. That’s why we say that looking for your home begins with carefully assessing your values, wants, and needs, both for the short and long terms. Important questions to ask yourself about your home:
Step 5

Make an offer.

When searching for your dream home, you were just that-a dreamer. Now that you’re writing an offer, you need to be a businessperson. You need to approach this process with a cool head and a realistic perspective of your market. The three basic components of an offer are price, terms, and contingencies.

  • Price – the offer price must fairly reflect the true market value of the home you want to buy. I will provide you with solid market research that will guide this decision.
  • Terms – the other financial and timing factors that will be included in the offer. Terms fall under five basic categories in a real estate offer:
Step 5
Step 6

Perform due diligence.

Unlike most major purchases, once you buy a home, you can’t return it if something breaks or doesn’t quite work like it’s supposed to. That’s why home owner’s insurance and property inspections are so important. A home owner’s insurance policy protects you in two ways:

The property inspection should expose any issues a home might hide. That way you know exactly what you’re getting into before you sign your closing papers. Your major concern is structural damage. Don’t sweat the small stuff. Things that are easily fixed can be overlooked.

If you have a big problem show up in your inspection report, you should bring in a specialist. If the worst-case scenario turns out to be true, you might want to walk away from the purchase.

Step 7

Close.

The final stage of the home buying process is the lender’s confirmation of the home’s value and legal statue, and your continued credit-worthiness. This entails a survey, appraisal, title search, and a final check of your credit and finances. During the process when you buy a home, I will keep you posted on how each if progressing, but your work is pretty much done. You just have a few preclosing responsibilities:
At the Title Company, you will do the following:
As long as you have clear expectations and follow directions, closing should be a momentous conclusion to your home buying process and commencement of your home-owning experience.
Step 8

Protect your investment.

Throughout the course of your home-buying experience, we will have spent a lot of time together and gotten to know each other fairly well. There’s no reason to throw all that trust and rapport out the window just because the deal has closed. In fact, I want to keep in touch, there are many things the I can still help you with. Even after you close on your house, I can still help you:

Attention to you home’s maintenance needs is essential to protecting the long-term value of your investment. Keeping it clean: Perform routine maintenance on your home’s systems, depending on their age and style. Keeping an eye on it: Watch for signs of leaks, damage, and wear. Fixing small problems early can save you big money later.