Buying
The buying process starts well before you go out and look at houses. Saving for a downpayment and starting to think what kind of house fits your needs are things that normally start materializing some time before the actual search starts.
1. Analyze your needs.
Create a wish list and understand how much you can afford.
2. Choose the right agent to work with.
There's a reason why 87% of homebuyers use a real estate agent when buying a home. According to the National Association of Realtors®, a good agent can be the difference between a successful, smooth purchase and a stressful one.
3. A knowledgeable agent helps you:
- Understand and guide you with your needs and wants
- Educate you on the current local market climate and guide you in putting together an impactful offer that would make it to the finish line
- Identify properties that could be a good fit for you
- Advocate and advise you during the purchasing process
- Handle all negotiations & legal forms for you
- Advise you on how to handle repairs and connect you with a trusted service provider
But most importantly, your agent will bring all their experience and local knowledge to the table. This is invaluable in guiding you to choose the right place, get it and close on it successfully.
4. Set up a consultation with your agent and work on your wishlist.
– Talk to a lender(s) and understand your financing options. Then get pre-approved.
5. Shop for your dream home-let the fun begin! Visit homes until the right one comes along.
6. Make an offer and negotiate terms and conditions to get the property under-contract.
7. Your due diligence period begins right away.
This is the time to inspect the property and negotiate and crucial repairs. Your loan application also starts at this time and some additional information may be required by your lender to get the process started.
8. Your due diligence is done.
The lender will order appraisals and the title search will commence.
9. Receive Appraisal and review value of property.
10. Request proof that repairs have been completed.
11. Plan on transferring utilities to your name as of the closing date.
12. Get a Preliminary Closing Disclosure from your lender.
Plan on having the funds available before closing.
13. Receive wire transfer information from Closing Attorney.
Plan on having the funds available before closing.