Buying a home is a complex and stressful process. Thankfully, we’ve arranged it into an easy 10 step list.
Get a Licensed Real Estate Agent
Buying a house can be a financial challenge and an emotional decision that requires a team of reliable professionals. Contact a real estate agent that can help your needs and answer all your questions. They will handle all the necessary paperwork, financing, inspections, pricing, and negotiations.
Get a mortgage pre-approval
Most home buyers need to finance their home purchases. Once you contact a mortgage lender they will show you what is the best lending program that suits your needs.
Look at homes
After learning your price contact your agent so they can narrow your priorities and make an informed decision about which home to choose.
Choose a home
While nobody knows what will happen to housing values over time. If you choose a house that meets your requirements and needs, you’ll be happy in your choice for years to come.
It’s important that you realize the cost of financing your home is usually greater than the price of the home itself. With interest, closing costs, and property taxes affecting final price as well. Also, get as much information as possible about your mortgage options and other costs.
Make an offer
Your agent will review the market value of your house and surrounding houses so that you can make a smart and educated offer. Your agent will also check for any Home Owners Association fees before making an offer.
Get an inspection
Your agent will recommend an inspection from a licensed inspector. They will examine the house and let you know of any faults that may cost you more in the long run than the inspector did.
No car owner would drive around without auto insurance, so it makes sense no home owner would skip out on real estate insurance. Real estate insurance protects home owners from disaster and all mortgage companies will require one to protect your investment.
There are different title companies, as well as attorneys, that will act as a third party for the closing process. Depending on the location of where you are located, closings can be referred as settlements or escrows. In practice, closings bring together a variety of parties who are involved in the real estate transaction.
Congratulations you are now a home owner! You must now transfer the utilities (water, gas, electric, etc) into your name and schedule your moving date with a moving company so you can start living comfortably in your new house!