Your roadmap to a seamless home buying experience.
Buying a home is an exhilarating milestone, and being prepared can make the journey smoother and more enjoyable. Here’s a step-by-step guide to help you navigate the process and make the most of this exciting adventure:
Do you have a clear idea of where you want to buy? Whether it’s a condo, townhome, or single-family house, it’s time to dive into the details. Explore what’s available on the market, and pay attention to asking prices and neighborhood trends. This research will help you understand what’s out there and guide you when you’re ready to start looking at homes or make an offer.
Sure, you could shop for a home on your own, but why not let a pro take some stress off your plate? I like to have a face to face buyers consultation with any new client whether in person or via Zoom, so we can get to know each other. This is usually the biggest financial investment of your life and I take that very seriously. As your agent, I’ll help you find properties that match your criteria, arrange showings, and handle the offer process, explaining every detail. With the new laws in effect I will strategically layout how I run my business and make sure we are the right fit for each other. My market expertise and local knowledge will make your home search more efficient and I certainly hope, enjoyable.
When I say decide on your budget, I mean setting a comfortable monthly payment for yourself, not just what the mortgage company says you can afford. Sure you may get approved for 3 million but do you want to spend 3 million, or spend 600K. Often, lenders might pre-approve you for more than you’re ready to spend. A lender will help you create a full household budget and factor in any new expenses like utilities, HOA fees, or maintenance costs that come with owning a home.
Before you get your heart set on a home or even start your search, meet with a mortgage broker to find out how much you can actually borrow. Your prequalification or pre-approval will give you a clearer picture and strengthen your position when making an offer. This step is crucial because some sellers won’t consider showing you the home or accept offers from buyers who aren’t prequalified.
This is the fun part! I’ll set up showings for homes within your price range and help you evaluate what you like and don’t like. Pay attention to details—test light switches, open doors, and check faucets. Don’t forget to explore the neighborhood for traffic patterns, parking, and proximity to essentials like schools and grocery stores. We look at it all before making an offer.
When you’ve found your dream home, we’ll craft an offer based on many variables other thjan just comparable sales. Depending on the market, your offer might be at, above, or below the asking price. I’ll assist with negotiations and handling any counteroffers until we reach an agreement.
Once your offer is accepted, you have 3 days to enter into attorney review. We will align you with a real estate attorney of your choosing (I’ll certainly share my recommendations) also. You and your attorney will discuss all of the details of the contract to make sure you and the seller are in agreement with language dealing with inspections, closing dates, etc. Once out of review you will be officially under contract and your initial deposit (escrow) will be due.
Your offer will typically include a contingency for a home inspection to ensure there are no major issues. I can help arrange this and schedule it soon after your offer is accepted. If significant problems are found, you can renegotiate the terms or even withdraw your offer if needed.
Now it’s time to choose your mortgage from the options presented by your lender. You’ll have various choices, such as fixed-rate, variable-rate, and different term lengths. Work with your lender to pick the option that best fits your financial situation.
Your lender will arrange for an appraisal to confirm the home’s value. This step ensures that you’re paying a fair price and that the property is worth the loan amount.
Paperwork isn’t the most exciting part, but it’s essential. Your lender and title company will handle the details. Once everything is signed, you’ll be the legal owner of your new home. It might take a few days for the loan to be funded, but once the check is delivered to the seller, you’ll be all set to move into your dream home!
After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.
Reach out to Kimberly Brechka for expert real estate services. Buy, sell, or invest in properties with confidence. Contact her today!