Buying process

The steps outlined here are general. Every transaction will have its specific issues. These issues can be best explained by real estate agent. That’s why never hesitate to ask as much questions as you want. You are making a long term commitment when buying a home and having right information every step along the way is essential for a successful transaction. Please contact me if you have any questions.

Step 1 Determine your wants and needs

Consider what the main reasoning for your move is. What types of the house do you want? Do you want new or resale home? Do you want a good school, shops, and hospitals near by? How far are you willing to travel for work? How much do you want to gain after the re-sale? If you can’t easily make up your mind don’t worry! A lot of people are unclear of what they want in the beginning. Realtor® can help you to identify your needs precisely.

Step 2 Decide on a budget and Get pre-approved for a mortgage

Consider how much are you willing and able to spend on a new house. You might want to check your credit report and talk with a mortgage consultant to familiarize yourself with a mortgage industry and get pre-approved. Pre-approval helps you in a couple of ways. You will know precisely the amount of mortgage you can afford. Furthermore, while making an offer for a property you have a better chance over a candidate that doesn’t have a pre-approved mortgage.

Step 3 Start searching for a home

You can do it yourself or with a help of an agent. If you do it yourself you can pick up some free magazines, surf internet, or even drive by to preview the neighborhoods and houses for sale.

If you will decide to work with an agent you need to know that it doesn’t cost anything, and a lot of times agent can show you more properties than you can find by yourself. However, before working with one you should understand whose interests he or she represents. Agent can represent buyers, sellers or both. You should always make sure that agent represents and act on behalf of your best interests.

Step 4 Evaluate the houses you like

Before making a decision to put an offer you should consider the specifics associated with the property. Some of the common questions you should ask are:Resale Value? Contract specific clauses (home inspection, toxic wastes etc.)? Is it a site built, modular, or manufacture home? Restrictions? Can others use the property? Is the reported square footage accurate? Property taxes? Again, if you find it too complicated a Realtor® can help in answering all of these and other questions you might have.

Step 5 Perform a home inspection

You should know when the home inspection can be accomplished. Some contracts allow home inspection only after the sale is finalized. Furthermore, consider important types of inspections for your specific area.

Step 6 Make an offer

Familiarize yourself with similar properties sold in the near past in the same neighborhood. You also have to take into account some new conditions (construction of a big mall for example) and house specifics in order to make a reasonable offer.

Step 7 Closing

Usually is done after three months, the event transfers ownership of the property to you. You are Done!

If this all sounds too complicated or time consuming for you - consider working with a Realtor®. Please continue to read to know what an agent like me can do for you absolutely free. I also encourage you to read myths about working with agent, so you understand better how to find a right one for you.