Tips and Steps for Purchasing a Home

Tips and Steps for Purchasing a Home

Step No. 1:  Choose a real estate agent – The first step in the home-buying process is to find an agent you feel comfortable working with on what will likely be the largest financial decision of your life.  Ask friends and family members for referrals, and interview several real estate agents.  When making this choice take into account an agent who communicates, has your best interest at heart, and puts your needs first.

Step No. 2:  Find a lender – Once you’ve chosen a real estate agent you trust to be your advocate, ask them to recommend lenders, either an organization or a person who will lend you money so you can buy your home.

Step No 3:  Clean up your credit – Now that you have a great lender, you can ask for guidance on any credit score issues you may be facing.

Step No. 4:  Apply for mortgage pre-approval – A lender will help you determine exactly what you can afford and, therefore, which houses you should be considering.

Step No. 5:  Create a home wish list – Once you know what your purchasing power is, talk with your real estate agent about your ideal home.  Come up with a few “musts,” as well as “wants” you’d ultimately be willing to compromise on.

Step No. 6:  Search the listings – Now comes the fun part: searching for homes that meet your parameters.  When you begin touring homes with your agent that are on your short list, take along a notepad and jot down your thoughts as you approach each home.

Step No. 7:  Make an Offer – Once you have identified the home you want, your real estate agent will write up the offer you are comfortable with and guide you every step of the way.

Step No. 8:  Get a final mortgage approval – Once your offer to purchase is accepted, you’ll work with your lender to get final approval for your home purchase by the date specified for the closing.

Step No. 9: Do your due diligence – The due diligence process usually includes having a home inspection done to see if there are any issues with the home that you will want to be corrected by the seller. Ask your agent for referrals for a Home Inspector.

Step No. 10:  Attend the closing – Once all of the steps above are completed, you’ll be on your way to the closing table. Once the documents have been signed and the transfer has been recorded with the county, you will be clear to move into your new home!

 

Laurie Adams

Real Estate Agent

Verrado Realty

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