1. Get Pre approved
- Discuss loan options and budgeting with the lender.
- The lender will check on their credit and alert the would-be buyers to any problems.
- The buyers learn the maximum they can borrow and therefore have an idea of their price range. However, all buyers should be careful to estimate their own comfort level with a housing payment rather than immediately aiming for the top of their spending ability
- Home sellers expect all buyers to have a pre-approval letter and are more willing to negotiate with people who have proof that they can obtain financing.
2. Find a home
Talk with your agent to find out which neighborhood and communities are the best fit for you and get out there and look at them in person.
3. Make an offer – Real Estate agents provides market statistics and data to see how much similar homes have sold in the area. Discuss financial situation/how much to offer and negotiate any closing costs for the buyer if needed. Present offer to the seller’s agent and either accepts or issues a counter offer. Deposit escrow/good faith deposit
4. Schedule Home Inspection– There is no substitution for having a licensed and trained professional inspection the property for safety, overall condition and quality. If anything comes up on the inspection you’ll be able to back out and get your escrow deposit back. Or we can also negotiate to have the sellers discount the price or negotiate repairs. If everything looks good, then an Appraisal is ordered and title search is conducted to make sure we have a clean title.
5. Closing– You made it! A few hours or the day before closing, we conduct the final walk through. Wire any remaining balance and go to the title company to sign all of the paperwork. Finally, you get your keys/owners manuals and you move in!
Your first home is something that you will never forget!