Deciding to buy a home can be an exciting and daunting experience. Many home buyers may ask themselves, where do I start? Here are some steps home buyers should take to get the process rolling.
- Get Preapproved – Talk with a lender about your current financial status to see if you can get preapproved for a loan. This process is so important because it will allow you to find out how much of a loan you can afford, what type of a loan you have access too, and the amount you are preapproved for. This is a great place to begin, because it will help you navigate which homes are in your price range before you begin searching.
- Find a Real Estate Broker – Did you know that typically real estate agents fees are paid by the seller? This means you can utilize a real estate agent many times with no out of pocket costs. Real Estate Agents have access to hundreds of homes that are on the market, have connections with other agents and love to help buyers find homes. They can really help you pinpoint the house of your dreams. Your agent will begin the home search process, many times by sending you e-mails with homes that match a criteria you provided (price, home size, location, etc.).
- Explore – Unsure of where you want to live? Take a drive and explore neighborhoods that interest. Consider items like how close the schools are to the neighborhood, parks near the area, commute time, and the general feel of the neighborhood. Researching an area on-line is great but actually looking at a neighborhood first hand can give you an idea if it is a good fit for you.
- Narrow Down the Search – After looking into neighborhoods and searching for home, you may begin narrowing the search down based on price, home size, number of bedrooms, number of bathrooms and of course location.
- View the Homes You Like – Now that you have narrowed down the search you may have a handful of homes you are interested in truly exploring. Your Real Estate Broker can arrange for showings, open the home so you can see if the home is a good fit for you.
- Make An Offer – Now that you have searched and found the home of your dreams your Real Estate Broker will submit an offer to the sellers.
- Accepted Offer & Escrow – Hopefully, your offer will be accepted and escrow will be opened. When you work with a Real Estate Broker, their job is to see your home through escrow this includes any negotiations, inspections, and serving as a liaison between escrow companies, lenders, listing agents on behalf of you the buyer. Real Estate Brokers are experts at helping the closing process go smoothly. Currently a typical closing period is 45 days from the accepted offer (with a conventional loan).
- Home Sweet Home – At the end of escrow the title will be transferred to you the buyer and the home you have dreamed of is finally yours.
If you are looking to buy a home and need help with the process then feel free to contact us: