WHAT IS THE HOME BUYING PROCESS? WHERE DO I START?

Again, buying a home may be the biggest financial move you’ll ever make, so before you jump in head first you will want to be sure your finances are solid.  This is where you meet with a lender to determine the best type of loan for you and your budget, what you can afford, and what you are comfortable with paying each month.  Putting back $500-$1000 for the earnest money.  This step is so important.  You may qualify for a large mortgage but is that actually what you want to commit to each month? Pre-qualifying with a lender also gives you the confidence in making an offer on the home of your dreams.  It takes out the worry of “Can I afford this home?” because you already did your homework and know exactly where you stand financially.  

3.  Find a Realtor.... hint, hint —–>    Working with a real estate agent is a must in today’s market.  The competition is fierce when buying a home.  Your agent is your advocate in searching for just the right home.  They are your voice in negotiating price, making offers, negotiating repairs, and scheduling home inspections and appraisals.  Making sure everything is done in your best interest.  The agent works for you.  I treat my clients like family, keeping in mind how I would treat my own family in this transaction.

Finally, some fun things to do!!  What do you want in your new home?  A list of must-haves and nice-to-haves should be at the top of your list.  Location, location, location…. what areas do you want to live in?  For some, the school system is a top priority, and for others its proximity to work.  Do you want a single-family home or a condo?  One-level or multi-level home? Do you want an HOA (homeowners association)? Whatever your needs are, making a list keeps you focused on what you want and need in a home.

5.  You found it!!!

A roller coaster of excitement starts here… So your agent… has successfully submitted your offer and it has been accepted…. what now?  Your accepted offer is now a contract with the seller and all the paperwork your agent has prepared for your home purchase goes to your lender and title company for processing.  The title company works for you by searching for and eliminating issues that might jeopardize your ownership rights. Title company and lender work hand in hand to ensure a legal transfer of property.  At this point, you will write the earnest money check. Earnest money is a deposit you’ll make toward the purchase of the house. It goes into an escrow account, and when the sale is completed, most buyers use it as part of their cash to close. Earnest money shows you are serious about purchasing this home and makes your offer more appealing to sellers.