YOUR FREE HOME BUYERS GUIDE
Ready to Buy Your Next Home?
Here’s a quick guide to explain what happens in the home buying process from start to finish. Don’t worry, I’ll be part of this journey with you every step of the way.
1.We will start by discussing the home buying process and what you need to do to prepare. We will talk about the current housing market, identify your wants and needs, and outline our strategy and timeline for selecting your next home.
2.A very important next step is securing a great lender to work with if you need a mortgage. Lenders will talk with you about all your loan options and costs associated at closing. If you aren’t sure who to reach out to, I have a number of fantastic local lenders I will connect you with.
Your Goal: To secure a pre-approval letter from your chosen lender BEFORE you start previewing properties.
3.To kick off your home search, I will start by setting you up on a property search through the MLS (Multiple Listing Service). Zillow, Trulia and other “free” sites are not accurate and can mislead prospective buyers. You want access to the REAL housing market to receive up-to-the-minute market data, homes for sale, and actual prices homes are being sold for. You will receive email alerts based on your criteria as soon as new properties hit the market. While you are previewing and selecting properties online, I’ll be contacting agents around the market to see if there are additional properties unlisted that could be candidates for you.
4.After we identify some great properties, we will then tour your top prospective homes in person so you can make a decision if they are right for you. We may preview only a few homes or several dozen before you find “the one.” This step can sometimes be stressful for buyers, but my goal is to ensure we have some fun and keep you focused on finding your future home.
5. As soon as we identify the property you want, it is time to draft up an offer. I’ll walk you through each component of the contract so you are informed and negotiate on your behalf with the seller. Once both parties agree to all terms – congrats, you will be under contract!
6.Right after signing the contract, you will prepare two checks. The first is your earnest money check written to the Title company, which generally represents 1% of the sales price. The second check is your Option money check, which is normally $150-$250 made out directly to the seller. As part of the contract, we will negotiate a period of time right after the contract is signed for you to get the home inspected and determine if any repairs need to be done before you move forward. This is called the Option period. Both of these checks can be credited towards your closing.
7. In the first days after your contract begins, reach out to your loan officer and submit any additional documents as soon as possible. We want to insure your mortgage approval is completed in advance of any deadline set in the contract.
8.During the option period, it is important to have the home inspected. You will want to schedule and attend the home inspection a few days before the end of the option period in case we need to negotiate repairs. Inspection costs normally range between $350-$500. A termite inspection can also be done and costs around $85.
9.Keep in touch with your lender until you have full approval of your loan. Once you do, you are now clear to close on the home. Closing is the process of transferring the funds to purchase the home, in exchange for the title, deed and keys. Three days before closing, the Title company will send you a document called the Closing Disclosure, which will outline all the costs you will bring to closing.
10.A day or two before closing, we will visit the property one more time for a final walk through to make sure any negotiated items have been completed and the house is ready for you to move in!
11. We’ll attend Closing Day, where you will sign all the remaining paperwork to transfer the home officially to you and deliver the funds outlined in the Closing Disclosure. Once your contract has been closed and funded, you are now the homeowner of your new property!
Note: Make sure to bring valid photo ID’s to closing (driver’s licenses or passports). You will deliver the funds to the title company either in the form of a cashier’s check or arrange a wire transfer with them.
12.Plan your Moving Day! In the first few days of homeownership, you should focus on getting all your utilities and service providers set up and tackle any minor home design projects before you move all the furniture in. Then relax, your home!
P.S. – Please remember to write me a review online and invite me to your house warming party!