buying a home
STEP 1 – PREAPPROVAL
For most people, the starting point is how much you can afford. Buyers also need to understand how much cash you need to close, the best loan product for you, and your overall financial strategy.
The best strategy may include putting down less for the home, waiting on a refinance to get a lower rate, or getting a renovation loan for the updates you want. Partnering with the right lender is the first step!
STEP 2 – REPRESENTATION
Hiring the right agent will make a massive difference in your home search. Buyers often make the biggest purchase of their lifetime, and having someone they trust to guide them is essential.
One overlooked factor is risk mitigation. We can help you find a home and reduce risks, whether it is litigation, future repair costs, or making the wrong decision based on your reason for moving.
STEP 3 – HOME CRITERIA
Defining your home criteria involves price, location, and condition. But your criteria can also go beyond what you like on the surface. Other things to consider are resale value, long-term family needs, potential repairs and updates, and investment potential.
It’s about looking beyond the next 2-3 years to the next 10-15 years, and how this next home serves you not just now, but well into the next season of life.
STEP 4 – MAKING OFFERS
Presenting offers is more than just the price. Many other factors can make an offer attractive to the seller while still meeting your needs. Other considerations in the initial offer include who is responsible for the title policy, survey, and home warranty. Various addenda can also protect buyers regarding financing, homeowners association, appraisal, and selling your home first before you buy.
STEP 5 – INSPECTION
The home inspection is one of the most important steps and also one of the most challenging for buyers. Understanding what to repair and how to ensure the seller does it correctly is essential to getting to the finish line.
Another critical step is knowing which items are dealbreakers if you can’t reach an agreement. This is where an experienced agent can really help you make the right decision.
STEP 6 – FINANCING APPROVAL
Financing approval has two components. First, you must finalize your personal qualifications. Second, the lender must approve the property. The most important pieces for property approval typically focus on insurability and the appraisal.
To protect you and your earnest money, you must understand the timelines and contract terms to ensure your earnest money isn’t at risk if things don’t work out.
STEP 7 – TITLE COMMITMENT
The title commitment is an important step in the home-buying process that ensures the home is free from any title defects and encumbrances.
The title commitment isn’t just about closing on the home; it also ensures you have coverage if title issues arise after you own the home.
STEP 8 – CLOSING
My commitment is to walk with you from start to finish. The last steps include a final walk-through, reviewing the closing statement, sending funds to the title company, and signing all the closing documents!
Congrats! You made it to the finish line and are celebrating your new home!