The home buying process can be intimidating to a first-time buyer especially. If you find yourself in this group you have come to the right place. Buying a home is a significant life change. But it should also be a rewarding experience.
One way to help make your experience a good one knows the entire home buying process. When you know what to expect
you will gain confidence. When you have faith,
you will feel good about buying a home.
So if you have already made the decision, let’s get familiar with the
home buying process ahead. If you are still
unsure, maybe this will inspire you to move forward.
Be Certain You Are Ready
Owning a home include being responsible for home repairs and maintenance. Homeownership is not only a financial expense but a drain on your free time. If that is something that will cause you to be resentful, maybe you aren’t ready quite yet.
Go Mortgage Shopping
Find a loan officer either online or get a referral from a friend and the first actual step in the home buying process logistically. Gather and bring in all the documents and statements the lender has requested on your first appointment. The lending professional will check your credit, let you know what type of mortgage programs available to you, and tell you how expensive of a home you can afford.
Find a Real Estate Professional
The home buying process can quickly become a nightmare if you don’t have professional guidance. Check out some local agents online. Make sure you read reviews. When you find one you like to set up an appointment to meet them. Make sure you work with an agent that is representing you as a buyer.
Go House Shopping
The best way to start the search for a new home is to look at properties
online. When you find a few in the location,
you desire, with the amenities you want and need, and within your price range
let your agent know, and he will set up the appointments.
Make An Offer on a Home
When you find “the one,” together
with your realtor, he will write the
purchase agreement and submit it to the seller’s
agent. From that point on there may be negotiations that he will guide you
through until you have an accepted offer.
Schedule a Home Inspection
The home buying process is almost complete. Now you hire a home inspector to examine the property. If expense repairs are looming, now is the time to know. NEVER skip this step. It is that important.
Complete the Final Phase of the Loan Application
Your home passed inspection, and
now your mortgage professional will guide you through the final steps of the
loan process. Make sure you get all the documents
into your lender in a timely fashion.
Your loan approval is in your hand.
Before you close, a final examination of
the home should occur. You need to be sure it’s condition has not changed.
Attend the Closing
This is it! The last step in the
home buying process. You sign the papers, you get the keys to your new
property, and you go home and live happily ever after.