BUYING
A HOME
Buying a home is one of the most important decisions that we make in our lives. Whether as a first home or beyond. There are many factors to consider, from your financial situation to your lifestyle. Having the right agent on your side will help not only simplify the process but can also ensure that you're making the right decision. Below is a blueprint to help prepare for buying a home.
Step 1: Determine Why You're Buying
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What are you looking to accomplish in buying a home? Are you ready for your first home or are you looking to move on to your next? What kind of timeframe are you thinking? Once you've got an understanding of why you're buying, share these goals with your agent so that they can adjust the strategy.
Step 2: Getting Preapproved
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Once you've determined that you're ready to buy, preapproval is a key part of the process. Having a lender look into your financial situation will give you clarity into what you can afford in terms of the purchase price, monthly payments & downpayment. The fact is that not all banks are the same. Depending on your situation, we can recommend lending partners that will provide the best products for you.
Step 3: Find Your Home
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Once you're preapproved & have a budget set for buying, you're ready to start shopping for a home. Based on your initial conversation, your needs & goals, we'll start to qualify properties as they come on the market and private exclusives. Viewing homes is an exciting process and a great learning experience. Take notes of what you like and what you dislike - the more that you share with us, the better we can qualify new listings.
Step 4: Submitting Offers
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After you select a home that you're interested in, we'll start by reviewing disclosures. Many homes that come on the market will likely have inspections completed ahead of time. If you're searching for a condo or townhome, we should also have access to review the Homeowner's Association Docs that shed light on the health of the association. When we're ready to submit an offer, we'll connect with the listing agent to learn more about the seller's goals & what it will take to secure the home. Depending on the house's list price, interest level & condition, we'll submit a winning offer.
Step 5: Offer Accepted & In Escrow
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Once you have your offer accepted, we'll go into the escrow period. This is the time that you'll submit your Earnest Money Deposit (typically 3%), complete inspections, have an appraisal completed & finalize your loan amount. Toward the end of this period, you'll pay the remainder of your downpayment & any closing costs & sign the paperwork.
Step 6: Closing Escrow
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Following the signing, paying your downpayment & closing costs, the county will transfer the deed. After this, you'll receive your keys, complete the transfer of utilities (gas & electric, water, sewer trash) & being the move-in process.
Congratulations, you're officially a homeowner!
