The thought of buying a house can be a happy thought or can be a doubting and stressful one. It’s up to you to get educated and understand the process and what it takes to make it a successful and rewarding experience. We are here to guide you and walk you trough each step of the way taking you to your new HOME.
If you have any questions please call me at (954) 703-0280.
These are the 10 steps you will take to buy a Home
1. Save your down payment.
Many people believe you need 20% down payment to buy a home. There are loans available that allow buyers to put down as little as 3% or 0% with a VA or USDA loan. Unless you are living with your parents rent -free, you are paying a mortgage-either yours or your landlord’s. As an home owner your mortgage payment is a form of “forced savings” that allows you to have equity in your home that you can tap into later in your life. As a renter you guarantee your landlord is the person with that equity.
2. Know your Credit Score.
Your credit score is a numeric representation of your history and ability to pay back debt in the past. Different home loans have different credit requirements. Don’t let this scare you, if you are ready and willing to buy,you may be surprised at the ability to do so.
3. Find a Real Estate Agent.
Once you have a handle on your credit score and down payment savings, contact us (954) 703-0280 We will guide you through the process of buying your first home. We will help make your buying experience an educated one. There is more to real estate than finding a house you like on line. Buying a home is definitely not something you want to DYI(Do It Yourself!) And our services to you are FREE! We are paid by the seller.
Knowing your budget will give you the confidence to know your dream home is within your reach. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence in any market. Geting Pre-approved is also going to show home sellers that you are serious about buying, and it often makes the difference in getting your offer accepted over somebody’s else offer.
5. Start Home Shopping.
In this day and age being able to shop for anything anywhere, it is very important to know what you are looking for when you start your home search. Make a list of what you want vs. what you need in your new home.
Must-Haves’- If the property does not have this items, then it shouldn’t even be considered
Should-Haves’- If the property hits all of the “must-haves” and some of the “should-haves” it is a consideration
Absolute-Wish List ‘- If we find a property in our budget that has all of the “must-haves” and some of the
“should-haves” , and any of these, it’s the winner!
Having this list before you start your home search will save you time and frustration and will let us, your agent what features are more important to you before beginning to show you homes.
6. Make an Offer.
You found the perfect home and you are ready to buy. We will be by your side, helping you determine an offer price that if fair. We will look at similar homes recently sold in the same neighborhood, the condition of the house and what you can afford. Once you’ve determine your price, we will draw up an offer-a purchase agreement and submit it to the seller’s real estate agent. The offer will include the purchase price and terms and conditions of the purchase.
7. Get a Home Inspection.
Once your offer is accepted you will have a time frame (7-10 days) to do a home inspection to ensure there are not any hidden issues with the home. You will receive a report of the home inspector’s findings. At this point you have a chance to renegotiate or withdraw the offer without penalty if the report reveals any significant material damage or ask the seller to fix anything on the property before closing.
8. Get a Home Appraisal.
Your lender will order a home appraisal to ensure that the property is worth the price that you have agreed to pay for it. The bank will only issue a loan for the appraised value. The appraisal will let all the parties involved know that you are paying a fair price for the home.
9. Close The Sale.
Once the loan is approved the lender will coordinate with your Title Company and schedule a closing date. This is the day you sign all paperwork to complete the purchase and get the keys to your new home.
10. Move In!
CONGRATULATIONS! You are a homeowner! Time to celebrate!
I hope that you enjoyed this post!
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