Step-by-Step Guide for Home Buyers
Call me first, and I'll guide you each step of the way, making your home purchase as easy and straightforward as possible.
Step 1: Get Pre-Approved for a Mortgage
- Gather Financial Documents: Collect the most recent two of each of the following: tax returns, pay stubs, and bank statements.
- Contact a Trusted Lender: Apply for pre-approval to understand how much you can borrow and show sellers you're a serious buyer.
Step 2: Define Your Needs and Wants
- List Priorities: Determine your must-haves (e.g., number of bedrooms, location) and nice-to-haves (e.g., backyard, proximity to schools).
- Consider Future Needs: Think about how your needs might change in the next 5-10 years.
Step 3: Start House Hunting
- Sign a Buyer’s Agreement: Licensed REALTORS® are required to have written agreements in place prior to showing listings outside of our own.
- Attend Open Houses and Private Tours: We'll visit properties that match your criteria and capture your interest.
- Use Online Listings: You'll have access to the most up-to-date and accurate websites and apps to browse homes.
- Keep Notes: I'll provide you with listing details and supplemental information, eg, disclosures, HOA restrictions, etc.
Step 4: Make an Offer
- Analyze Market Value: We'll review recent comparable sales data and market conditions in light of pricing.
- Negotiate Terms: I will strategize with you to establish the price and terms that best position you for success.
- Submit Offer: We will present a written offer including the price, contingencies, and closing date.
Step 5: Conduct Home Inspections and Appraisal
- Hire an Inspector: Schedule a professional home inspection to identify potential issues.
- Review Inspection Report: We will discuss findings and decide if you need repairs or adjustments to the offer.
- Appraisal: Your lender will order an appraisal to ensure the home's value matches the loan amount.
Step 6: Secure Financing
- Finalize Loan Application: Submit necessary documents to your lender.
- Lock in Interest Rate: Decide when to lock your interest rate.
- Receive Loan Approval: Wait for the lender’s final approval.
Step 7: Close the Deal
- Review Closing Disclosure: Check the final terms and costs of your mortgage.
- Attend Closing Meeting: Sign all necessary documents and pay any necessary closing costs.
- Receive Keys: Once the transaction is complete, you’ll get the keys to your new home.