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BUYERS

Purchasing a property is most likely the biggest financial decision you will ever make. Whether this is your first purchase or you are an experienced buyer, this decision must be made carefully.

Guide To Buying A Home

A home purchase can provide many advantages. Not only can it be a great investment that can provide several benefits – such as tax write-offs, equity build up, and value appreciation – but for many it is an accomplishment that gives them a sense of pride.

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Hire Your Agent. Choosing an agent is an important factor in the home buying process. Your agent is there to provide you with the support you need throughout the process. A good agent will explain the steps of buying a home in detail, if necessary, from start to finish. They are there to show you homes, provide a market analysis to make sure you are making the right offer, and handle all of the negotiating and paperwork behind the scenes so that you don’t have to worry about deadlines, and which forms need to be included.

Secure Financing. Too often transactions fall through at financing. Work in advance to make sure your deal doesn’t die at closing. Ask your agent to introduce you to their preferred lender who will work with your agent to make this aspect of the home buying process free from stress.

Your lender will review your financials with you and discuss the best options available to you with respect to the purchase price and type of loan. They will negotiate for you to get you the best interest rates and terms, and keep you informed during your purchase.

Set Your Priorities Early. Determining what you are looking for in a home is very important to pinpoint early on in the process. Is it the home, the location, the schools? Do you want a fixer-upper or a home that is move-in-ready?

Your agent can help you find the home that’s right for you and even help you decide on the area and type of home you are looking for. Having them set up a search on MLS with your wishes will help in finding your dream home.

Make an Offer. Don’t make contact with the seller. Make sure you contact your agent to help you with all questions and negotiations. Studies show that communication between a buyer and seller results in a more complicated closing process and fewer contracts that close.

Your agent can give you comparable homes in the area to help you decide on your offer amount, and get answers to any relevant questions that may affect your offer amount. Look to your agent to explain and guide you through this process, including paperwork and deadlines that have to be met.

TIP: Decide on your bottom and top line prices and what your biggest priorities are before the negotiation begins.

Manage Your Own Mindset. Remember, negotiating is about compromising. Buyers and sellers have to remember to take the emotion out of the sale. Otherwise, negotiable items can ruin the deal. Lean on (and listen to) your agent for objective support throughout the transaction. It’s their job to help you ensure you are making the best business and life decision.

Due Diligence. After your offer has been accepted, it is time to hire a home inspector. Ask your agent to refer you to their preferred inspector.

A qualified home inspector will examine the property’s visible and accessible areas and identify and positive or negative conditions, and conditions that need further specialized attention.

Once the inspection is complete, the home inspector will provide you with a comprehensive report detailing any issues with the home. It is important to remember that no home is perfect – even just built new homes will have conditions that need to be addressed, and the homeowner will fix not all items from the inspection.

Close. You are almost there. The last step is signing the closing documents with the title company. Plan on spending one to two hours with your escrow officer going through paperwork and signing documents. Once everything is complete, the escrow office will fund the loan and record the documents. This can take anywhere from a few hours and up to business 48 hours.

Once the title has been recorded and the loan has been funded – the home buying is complete. Congratulations!!!!

Reasons to Buy a Home.

Equity: When you pay rent, you don’t own anything. When you pay a mortgage, you increase your degree of ownership in your home with every payment.

Tax Deductions: You can deduct mortgage interest as well as your property taxes.

Creative Control: This is your home now. Decorate it in your style – change the color of the paint, add more pictures on the wall…anything you like!!

Guide To Buying A Home

Guide To Buying A Home

Guide To Buying A Home