Buying a Home
Buying a home can take a lot of time and effort. Our experts will guide you on the path to getting the best house for your lifestyle and budget. Our local gurus will make the buying process manageable and give advice on getting the best deal.
Decide on Your Location
If you haven’t already decided on your preferred neighborhood or location, this is the time to make those ideas concrete. Contemplate if you want to be close to work, school districts, or in communities with particular amenities. All these considerations will affect where you will buy and the price .
How much House
Can I Afford?
On average, lenders recommend that home buyers look for properties that cost no more than three to five times their annual household income. Depending on your lender, a 20% deposit may be a requirement. Think about securing a preapproval letter from your mortgage lender before setting off on tours. This letter can be a distinguishing factor between your offer and a competitor’s. Sellers will lean toward a less risky, quicker purchase process, and prefer buyers with official loan approval.
Use the MLS to find
The MLS is used by local agents more than other online databases. Therefore, it’s generally more accurate in currently available housing versus showing properties as “available” when they may already be under contract. The MLS is a great tool in carving out your location and filtering by property type and price range.
Making an Offer
Signing and delivering an offer is easy with an expert real estate agent. Let our experts write, deliver and negotiate on your behalf. A home inspection is likely to follow an accepted offer. After the home inspection is complete, discuss with your agent if there is anything you would like the seller to fix before you finalize the offer.
Lenders have a wide range of loans to choose from. Don’t be afraid to ask questions or make requests. If you need a lower down payment or lower monthly payments, be sure to tell your loan officer. Everyone has his or her own priorities when choosing a mortgage, be clear about your own.
The lender will arrange for an appraisal on the property to determine “fair market value” of the home. The appraiser is a third-party vendor and is not associated with your lender or real estate agent. They are simply there to let you know whether the price is fair, considering market variables.
Your lender will coordinate with a title company to handle all the paperwork associated with your home purchase. After you’ve signed all the paperwork, it will take a few days for funding to be completed. Once the funding has changed hands, you will be ready to move into your new home!