The first and very necessary step to buying a home is to understand what you can afford. A licensed lender will help evaluate your financial standing and provide a pre-approval. To do this they will review hard copies of your income, assets and credit history to determine how much the bank will lend you, which will help you determine the price range for your search. Having a pre-approval letter in-hand is absolutely necessary today not only to be able to view homes but it needs to be presented with any written offer. It’s an absolute must!
Do you need to sell your current home first before purchasing a new one? There are many financing options available today to bridge the gap between the home you have and the home you want. We can certainly discuss this.
You can start your search for the perfect home right here with up-to-date MLS listings in your favorite neighborhoods. Create your free account to save your favorite properties, receive automated listing alerts, request showings and more! As your REALTOR®, I will also search for homes on your behalf. When you find a home that you like, we'll schedule a showing tour for you to preview the property in person.
You have found a home you love and are ready to move forward with a purchase. There is a lot to consider when making an offer. We will review area comps, discuss your offer options and advise you on constructing the strongest offer possible. Then we will write up the necessary documents for you to sign. We will also discuss the closing date, sale contingencies, and any exclusions. Once an offer is submitted, the seller may accept, reject or counter the offer. If the seller returns a counter, we will enter a negotiation period until an agreement is reached, or the offer is rejected by either party.
If your offer is accepted, you will have chosen an attorney to represent you. Both seller and buyer attorneys will review the contracts and make the normal revisions. After completion of attorney review, you are considered under contract. The purchase will not be complete until closing, but the home cannot be sold to anyone else while the contract remains in effect. At this time it will be necessary to make your earnest money deposits and apply for your mortgage.
Inspecting the condition of your home is a vital part of the home-buying process. A licensed home inspector will conduct a comprehensive evaluation of the entire property and report any problems with the condition of the home's structure or systems. The inspector will also investigate potential issues such as pest infestations or mold.Depending on the type of home, additional inspections might be required for other systems. If any serious defects are found we may enter additional rounds of negotiation to resolve any problems discovered during the inspection.
Your lender will arrange a professional appraisal of the home. An appraisal is an unbiased estimate of the true (or fair market) value of a home and is conducted by an independent third party. The appraiser will determine the value of the property for all parties involved. If the home appraises at less than the expected value, and depending on the wording in the contract, you may have the option to renegotiate the purchase agreement or terminate the contract.
Prior to closing, we will conduct a final walkthrough of the home to ensure that the home is in the same condition as when the original offer was made. If any inspection repairs were made we will also take a look at them. The receipts for these repairs are supplied to the attorney prior to the walk through.
Time to celebrate! Your lender will provide a final closing disclosure that summarizes the loan terms, monthly payments, taxes, and other costs associated with the closing. They will also confirm that you are clear to close, and you will sign all of the paperwork required to complete your purchase and loan agreement with your attorney and closing company. Once the paperwork is signed by all parties and your loan is funded, you will receive keys, and you'll be ready to move into your new home! Congratulations!
Let me explore a home solution that works for you, we are here for you.