Home Buying
1. Find an Agent
Choose a local Realtor or real estate team who is knowledgeable about the neighborhoods you are considering, knows values and who you can trust for advice.
2. Get Pre-Qualified
Before beginning your search, your first step is to get pre-approved for a mortgage loan (unless you will be paying all cash). We can connect you to a mortgage broker. Based on your income and credit history, the mortgage broker will determine how much the bank will lend you, which will help you determine the price range for your search.
3. Your New Home
Sit down with your Realtor to discuss your ideal home. For example: What is your target price point? What are your favorite areas and neighborhoods? Do you have an ideal square footage, floor plan or number of beds/baths in mind?
4. Visit Properties
Attend showings with your Realtor and tour.
5. Make an Offer
Once you have found the perfect house and it’s time to submit an offer, your Realtor will help you evaluate the property’s value and terms to set forth in the agreement.
6. Negotiate
Reach an agreement with the Seller on price and terms. If your offer is lower than list price or the Seller has multiple offers then the Seller will likely return with a “counter offer” for price and or terms. You can choose to accept, reject, or make another counter offer. Your Realtor will provide advice on pricing, terms and negotiating strategy throughout.
7. Complete the Loan Application
Loan Processing will likely take 30–45 days. It may take less time depending on how quickly you get all the required paperwork to your lender.
8. Perform Property Inspections
It is the duty of the Buyer to determine the condition of the property. I always suggest that my client be present at the inspection, its important for the professional inspection company to go over all the details.
9. Release Inspection Contingency
Negotiate credits and repairs with Seller, if any, and release inspection contingency.
10. Secure Loan Approval
Make sure to check with your lender before releasing the Loan Contingency.
11. Final Walk-Through with Your Realtor
This is where you go view the property one last time before closing. You typically want to view the home without any furniture. You check that the home is in the same condition as when you first saw it. You also verify that repairs if any have been done.
12. Closing
Congratulations, you’re now a homeowner in paradise!