Buying Tips

A little overwhelmed with buying? Here are 8 easy steps to purchasing a home:

  1. Decide to buy.
  2. Hire your agent.
  3. Secure financing.
  4. Find your home.
  5. Make an offer.
  6. Perform due diligence.
  7. Close.
  8. Protect your investment.


 

1. Decide to buy. Although there are many good reasons for you to buy a home, wealth building ranks among the top of the list. Home ownership is one of the best investments most people ever make. There are solid financial reasons to support your decision to buy a home, and, among these, equity buildup, value appreciation, and tax benefits stand out.
 
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2. Hire your agent. The typical real estate transaction involves a lot of separate individuals whose actions and decisions have to be managed and organized to get a home sale closed. It our responsibility to expertly coordinate all the professionals involved in your home purchase and to act as the advocate for you and your interests throughout. We will educate you about the market, analyze your wants and needs and guide you to homes that fit your criteria. Once you decide on your future home, we will negotiate on your behalf, complete needed paperwork, coordinate the work of other needed professionals and solve any problems that may arise.
 
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3. Secure financing. While you may find the thought of home ownership thrilling, the thought of taking on a mortgage may be downright chilling. Many buyers start out confused about the process or nervous about making such a large financial commitment. The process to securing the financing for your home includes;

  • Choose a loan officer (or mortgage specialist).
  • Make a loan application and get pre-approved.
  • Determine what you want to pay and select a loan option.
  • Submit to the lender an accepted purchase offer contract.
  • Get an appraisal and title commitment.
  • Obtain funding at closing.

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4. Find your home. Shopping for a home can start out as a fun process. However, looking for a home is only fun for only so long. If weeks go by without finding what you’re looking for, the fun can fade pretty fast. That’s why we say that looking for your home begins with carefully assessing your values, wants, and needs, both for the short and long terms. Think what, where & why!
 
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5. Make an offer. When searching for your dream home, you were just that – a dreamer. Now that you’re writing an offer, you need to approach this process with a cool head and a realistic perspective of your market. The three basic components of an offer price, terms and contingencies.
 
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6. Perform due diligence. Unlike most major purchases, once you buy a home, you can’t return it if something breaks or doesn’t quite work like it’s supposed to. That’s why home owner’s insurance and property inspections are so important. A home owner’s insurance policy protects you in two ways - against loss or damage to the property itself and liability in case someone sustains an injury while on your property. The property inspection show expose the secret issues a home might hide so you know exactly what you’re getting into before you sign your closing papers.
 
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7. Close. The final stage of the home buying process is the lender’s confirmation of the home’s value and legal statue, and your continued credit-worthiness. This entails a survey, appraisal, title search, and a final check of your credit and finance. Your agent will keep you posted on how each if progressing, but your work is pretty much done. You just have a few preclosing responsibilities:

  • Stay in control of your finances.
  • Return all phone calls and paperwork promptly.
  • Communicate with your agent at least once a week.
  • Several days before closing, confirm with your agent that all your documentation is in place and in order.
  • Obtain certified funds for closing.

As long as you have clear expectations and follow directions, closing should be a momentous conclusion to your home-searching process and commencement of your home-owning experience.
 
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8. Protect your investment.  Attention to you home’s maintenance needs is essential to protecting the long-term value of your investment. Two simple things to remember:

  • Keep it clean: Perform routine maintenance on your home’s systems, depending on their age and style.
  • Keep an eye on it: Watch for signs of leaks, damage, and wear. Fixing small problems early can save you big money later.

Throughout the course of your home-buying experience, you’ve probably spent a lot of time with us and you’ve gotten to us fairly well. There’s no reason to throw all that out the window just because the deal has closed. Even after you close on your house, we can still help you with various things like find contractors to help with home maintenance or remodeling and keep track of your home’s current market value.  And lastly, you can help us! The best compliment is a referral!
 
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