Buying a home is an exciting, yet anxious time. It takes time, patience and persistance to find a new home, get through the closing and finally, move into your new home. Having a general overview of the home buying process will ensure you understand what’s happening throughout the process.
Before you start shopping for a home, it is wise to get pre-approved for a home loan. If you fail to do this, you will likely be looking at homes that are out of your pice range. Getting pre-approved will ensure you are looking only at homes you can afford.
Choose a Real Estate Agent
The agent you choose must be someone with whom you’re comfortable because they will be representing you and will be negotiating on your behalf. You want someone who has experience and a good reputation within the real estate industry.
Choose Your Options
There are going to be certain options you want your new home to have, such as a garage or basement. Choose what you must have. Then make a list of items you would like to have, but could do without. This will give you a starting point when looking for a new home.
Place an Offer
Your agent will help you negotiate an offer. You don’t want to place an offer that’s too low because the seller may not take you seriously and will proceed to the next buyer. That means you lose the home of your dreams.
Attend the Closing
Once the buyer accepts your offer, you will have a home inspection and appraisal. If all that checks out, you will proceed to closing. Be prepared to pay closing costs and the downpayment. You will sign many documents. Once the money changes hands, you’ll get the keys to your new home.