COMPLETE GUIDE TO BUY YOUR FIRST HOUSE
What are you looking for, how to find it and how to work with the experts to help you get there?
You are thinking of buying your first home? Something unique for you and yours, your home?
It’s a great adventure, literally. Buying a home takes a lot of time and money. Is not easy. But, when you receive the keys to your new home, it is usually one of the most rewarding feelings in the world., think of all the memories that can be built in that new place.
What is the key to get there? Know the process of buying a home. Know what tools you have at your disposal. And something important, build relationships with experts which they can help you to get the job done.
To we will show the main steps on the home buying process, also you we will explain the relationships and the experts you will need in the path. Even, we will show you one infographic that describes the home buying process from start to finish.
Are you ready for build this dream? Here we go.
Step # 1 Do your homework
Oh sure, everyone wants to jump straight into the open houses. But before you set foot in a hallway, you need to identify your “want” and “don’t want” list. This list is an inventory of priorities for your search. And there’s a lot to decide – price, home type, neighborhood, and school district, just to name a few.
If you are planning to buy a home with a partner (in life or in real estate),make your list of wishes with them. To be on the same page when buying a home. If that is not the case, it will be harder give agents or lenders the information they need to help you. And risk wasting time looking at houses you can’t sterilize or don’t even want, first.
Step # 2 Start searching
Once you know what you are looking for, the next step is to start looking for housing listings and information online.
Step # 3 Find a great agent
Your relationship with your real estate agent is the foundation of the home buying process. (And your agent = your base). He or she is the first expert you will meet on your trip and the one you will trust the most. That’s why it’s important to interview agents and find the right agent for your specific needs.
Step # 4 Choose is a lender
Once you’ve found your agent (your new best friend), ask him or her to recommend at least three mortgage lenders that meet your financial needs. This is another big step, as you will work closely with the lender throughout the home buying process.
Step # 5 Alijis loan
Once to be there’s decided by a lender (or mortgage broker), it will works with a loan officer to determine which mortgage is right for you. You´ll have into account the percentage often in come you wants spend in to a new home and will provide you to the lender the documentation that proves you’re in come, your employment situation and other important financial aspects. If all goes well, I know to will pre-approve a loan for a specified amount.
Step # 6 Go to Showings Webserver
Now that you have an agent who knows to your housing preferences, a budget, and a lender to finance a home within that budget, it’s time to get serious about viewing homes. Your agent will provide listings to they can like according to the parameters determined (price range, zip codes, features) and also to it will help determine the quality of the listings you find online.
Then comes the fun part: the exhibits, which give you a unique opportunity to evaluate properties. Tor agent to will help navigate all the places, either virtual or in person.
Step # 7 Make an offer
Once you find the house you want to buy, you will work with your agent to come up with an offer that not only specifies the price you are willing to pay, but also the proposed settlement date and contingencies, other conditions that must be agreed upon by both parties. , like giving you the ability to do a home inspection and request repairs.
Step # 8 To Negotiate
Bidding can feel like emotional hurricane, almost like asking someone out. They like me, Am I good enough? Will they say yes? It’s stressful! Some home sellers just accept the best offer they get, but many sellers counter. If that happens, it depends on you decide if you wants what to agent negotiate with the seller or leave. This is an area where your agent can provide real value by using your expert negotiation skills to haggle in to name and get the best deal.
Step # 9 Have the site inspected
If your offer is accepted, you will sign a contract. Most sales contracts include a home inspection contingency, which means that I know will hire a licensed or certified home inspector to inspect the home for any needed repairs and then ask the seller to make them. This mitigates the risk of buying a home that has significant problems lurking below the surface, such as mold or cracks in the foundation. (Nobody wants that).
Step # 10 The Appraisal
When I offer to buy a home, the lender will need to appraise the home to make sure the property’s value is sufficient to cover the mortgage. If your home appraisal is close to the agreed upon purchase price, you’re one step closer to closing, but a low appraisal can add a little problem. Not one you can’t deal with.
Step # 11 Close the Deal
The last stage of the home buying process is the liquidation or closing. This is when you sign the final ownership and insurance documentation and make this all official. There is a prep job you need to take care of first.
When all is said and done. You will have the keys to your new home!
