It’s always good to be prepared! Here are some elements that make up the beginning of a smooth and successful home purchase.
#1 – The Down Payment
Be sure to have a down payment. Many first-time home buyer programs allow for a lower down payment than the average buyer. Talk to your mortgage rep about these programs to find out how much you will need.
#2 – The Real Estate Agent
A trusted real estate agent can help you through every step of the process. It’s important to work with someone you know you can trust.
#3 – The Real Estate Attorney
A real estate attorney can answer your questions about the technical side of buying a home. They will be your lifeline during the closing process.
#4 – Mortgage Pre-Approval
A pre-approval is crucial for knowing what you can afford and what you’ll be approved for. The pre-approval will give your price range so your real estate agent can begin finding houses for you to see.
#5 – The House Search Checklist
You’ll need to determine what you do and don’t want in a new home. The more specific you are, the easier it will be for your agent to find you homes in your price range.
#6 – Understand The Possibility of Many Offers
Although your first offer on a property can work out, be aware that you may need to make several offers on several properties before one is accepted.
#7 – The Waiting
This is not supposed to be a quick process! Waiting is normal. While you wait, your real estate agent, mortgage rep, and real estate attorney are usually working hard to make sure your transaction goes smoothly!
#8 – The Closing
All the legal documents will be transferred and signed during a real estate closing, making the house officially yours. Consult with your real estate attorney before the closing to ensure they have everything they need.
#9 -The Paperwork
Be prepared for paperwork and to save ALL important documents.
#10 – The Extra Expenses
Besides the home cost, be sure to budget for moving expenses, new furniture, and anything else you’ll need as you settle into your new home.
Ready to purchase a new home? Let us know! We can help with the home buying process.