Let the Journey Begin!
 |
| Get out your pen and paper! |
Step 1. Get pre-approved -- I know that many of you are not even sure where to begin when it comes to buying a house. So the first thing that you need to do is figure out if you're even financially prepared to make, what will likely be, the biggest purchase of your life! One of the biggest setbacks that I see for many buyers is that they feel ready to be home owners but their financial situation isn't quite prepared for them to make a purchase. So, get in touch with your local bank, or ask your friendly Realtor for a few names of some quality lenders. This step will keep you from being extremely disappointed. Getting pre-approved will also put you in a better negotiating position once you've found that house of your dreams and you're ready to make an offer.
Step 2. Make your list of "needs" -vs- "wants" -- Once you have your pre-approval sit down and make a list of what it is that you need in a house and what it is that you want to have in a house. For example, if you are a family of five you probably need more than one bathroom. Where as if you're just a single person then more than one bathroom in your house is more of a want than an actual need. Also, when making your list don't forget to keep your furry little friends in mind. Do you need a fenced in back yard?
Step 3. Make an appointment to speak with a local Real Estate Agent -- Call up a local Real Estate Agent and ask to sit and speak with them about assisting you in your home search. Ask them about their experience level, their background in the industry. Ask your potential Agent about their knowledge when it comes to the type of loan that you're going to be getting. Ask your agent if they are full time or part time, do they work on a team. Find out about their company and what fees (if any) they charge potential buyers. Ask as many questions as you need to, and even consider interviewing more than one Agent. This will help to ensure that you'll be getting someone who fits what it is that you're looking for in a Real Estate Agent. And it's always a good idea to ask for references. Any good agent has multiple people that you can call and speak to.
Step 4. Begin looking at houses -- Now that you've chosen your Real Estate Agent, signed your Buyers Agency Agreement and have your pre-approval you're all set to begin looking at houses in person. I am certain that you've probably already been looking at many different styles and priced homes online. In fact, 90% of today's buyers begin their search online, so you're not alone! Also be sure to give your chosen Real Estate Agent your list of the needs and wants that you have in a home. This will help him or her to narrow down the search of houses that may suit you.
Step 5. Ask questions & Listen to Advice -- Since you're now looking at houses, you'll probably be able to tell rather quickly what it is about each home that you like and what it is that you don't really care for. Be sure to keep telling your Agent what you like and don't like about each house. Ask questions: What are the taxes, what's the average utility bills, what appliances (if any) are included in the purchase. And be sure to listen to your Agent, because he or she should be giving you valuable information as you tour through each house. Also .....and this is really important.....if your Real Estate Agent tells you that a home will sell quickly that's because it probably will! Agents are not like car salesmen, we are not looking to get you into just any old car. We are looking to get you into a home that you can love and be happy with for a long time. So if you have an Agent who says, "this house wont be here come Monday" or "the listing agent told me they are expecting an offer" then you need to listen, and at quickly, especially if you love the home. Because sadly, unlike in the auto industry, if you think overnight and the car is gone the next day they can order you another one just like it from somewhere else around the country.....but with houses, it doesn't work that way. Each home is unique and most won't really appeal to you very much at all. So when you find one that makes you smile, and that you are saying "oh i could put the couch here", then maybe it's time to act quickly!
6. Make your Offer -- Now that you've found the house that you love and you've decided to write the offer things can get a bit tense. However, don't stress to much! This is exactly why you chose a Real Estate Agent to help you. Your agent should do a CMA for you so that he or she can tell you what other like homes in the area have sold for recently. This will help you a little bit in deciding a good jumping off point for your offer. But remember, the days of getting insane bargains because there are no buyers isn't around any more. Frankly in today's market there are less houses for sale and more buyers looking to purchase. (especially at certain price points -- yes this means the first time home buyer price point) So listen to your agent, ask about a home warranty, ask for whatever appliances you hope to get with the property and if you need some help with your closing costs ask your Real Estate Agent what price you should offer if you need those too! Your agent will be your number one source for knowledge and help in this buying process, especially in making the offer and doing your negotiations.
7. Accepted Offer = Contract -- Once your offer has been accepted you will now be what is called, "under contract". During this period of time you'll need to be sure to work diligently to get your loan officer anything that he or she needs to get your loan approved. You'll also be getting your inspections and appraisal done on your future home. But don't be afraid to contact your agent. He or she should be in contact with you at least once a week to keep you updated on what is going on with your purchase and inform you on any deadlines that are about to be up. (inspection, title search, loan commitment, appraisal etc).
8. Relax -- Remember to breath through the entire process. Buying a home is stressful, trust me I know. But do your best to keep smiling and trust that your real estate agent is working hard to make sure that everything is happening exactly as it should be.
Yes, this journey can be a long one. Yes, buying a house can be difficult. Just know that you're not alone. There are professionals out there to help you. Real Estate Agents are professionally trained and educated to assist you in the buying process. We are here to do almost anything you need us to in order to be sure that you find a house you will love living in for a long time to come.
So if ever you, or anyone you know needs assstance in Buying a home I would love to be that Agent you choose! I am an Accredited Buyer Representative, a Military Relocation Professional and a Pricing Strategy Advisor.
If ever there is anything that I can do to help you please feel free to get in touch with me!
Keasha M Drury,
Helping you Home
573.837.2261
Comments
Post a Comment