You’ve decided to buy a home. Now what? Finding the perfect home and getting it to closing requires several steps. The more proactive you are, the less stressful the process will be. As long as you understand and follow each step, you will be a homeowner in no time.
- Find a Realtor
Many buyers aren’t sure when they should start involving a Realtor. It is beneficial to interview agents as soon as you can. Not only can they clearly explain the process to you, but they can also help connect you to reputable lenders. Before searching through every home on SRNRealEstatePros.com, choose an agent who is educated, motivated, and easy to work with.
- Talk With Lender
Be sure to talk with a lender before you get your heart set on any homes. They can explain the financial costs of purchasing your home, help you set a budget, and discuss various types of loans. Even if you aren’t quite ready to buy yet, talking with a lender early on can put you in a better position when the time comes to make your move.
- Get Pre-Approved
Once you find a lender that you trust, work on your pre-approval with them. The lender will ask for documentation of things like your work history, financial statements, and credit score. Your pre-approval will help you determine which price range you will be comfortable looking in. Most listing agents also require a pre-approval or proof of cash funds to be submitted with an offer.
- Search for Homes
After you have your finances in order, your home search can officially begin. Some houses move quickly, so it is important to stay up to date on all new listings. You can either set an automatic search up yourself or ask your Realtor to set one for you. Remember that listing photos can be deceiving. If you see a house with potential, it is worth scheduling a showing to see it in person.
- Write Offer
Hopefully, you will walk into a home and know it’s the one quickly. Let your Realtor break down the price for you. A good agent should explain how much room they think there is to negotiate and why. Make sure you read carefully through the documents before you sign. Your offer will either be accepted, countered, or rejected.
- Order Appraisal
Once you get an accepted offer, it’s time to circle back around to your lender. You must let them know of the offer so that they can start your full loan approval process. The process includes ordering your real estate appraisal. In short, an appraisal will help verify that you don’t overpay for a home.
- Inspect Home
It’s always wise to inspect a home before you buy. You never know what a trained eye may find. Ask for recommendations and read reviews to make sure you’re hiring a quality home inspector. Your inspector can perform a basic inspection or an upgraded package to screen for concerns like mold, radon, and water damage.
- Schedule Close
As soon as everyone has completed all agreed-upon tasks, it’s time to schedule your closing. You, your lender, and your Realtor will all coordinate to make sure the timing, paperwork, and funding are in order. Once you have a closing date, you need to set up utilities to transfer into your name and have a final walkthrough of the house.
When it comes to buying a home, don’t stress. Start with a great Realtor to talk you through the big steps and the details. You’ll be at the closing table before you know it.