Before you begin looking to buy a house, it’s really important that you find a mortgage broker or bank who will handle your loan. Once you decide who or where that will be, you need to get a pre-approval loan in writing. Since we’ve been in this business for over a decade, we can help you find the best lender for your needs.
Your lender will look at your financial documents and determine a general loan amount you will qualify for. Make sure that all your financial documentations are in order, your mortgage broker will give you a list of what documents they will need. When we have our initial meeting with you, we can help inform you on what you’ll need to get everything in order.
The House Hunt
Now that you understand your buying power, it’s important you determine what factors will make or break your dream home. Sit down and really understand what you want in a house. As you begin this process, we are happy to help provide any guidance you need and to provide any information you need on the home buying process or market in your desired area.
Be reasonable with your wishlist based on the area and price you are working with. It’s important to get an understanding of what you can get within your price range and adjust your wishlist accordingly. As your agent, we will be a great resource for understanding the market in your desired area.
Once, we have a good understanding of what you want, we will begin setting up tours for homes for sale in your area that match your needs/wants. In some cases, it may take several tours before you find the house you want to buy.
Making an Offer
So, you’ve found the home of your dreams and are ready to go for it. You and your agent will work on putting together an offer. In this offer, you’ll have to define the price you are willing to pay for the house and the contingencies you are ok with excusing and those that you want to keep in place. Some contingencies are for: your loan, appraisal, inspection and/or sale of buyer’s property. To better understand contingencies, we will talk you through the many types and those most relevant to your contract.
After you submit your offer, the seller can either accept, decline or counter your offer. If your offer is countered, you will be given a set amount of time to respond. Take the time to consider the counter and you can either accept the counter or counter the seller’s counter. As your agent, we will make sure to flag any important considerations in the counteroffer and information on market conditions before deciding how to respond.
Getting the Home
Once you reach an agreement with seller, the contract is said to be ratified. For the next 30 – 45 days, you’ll be in escrow and will need to go through a couple more steps before finally owning your dream home. Our team will help you navigate this next step as you go through an appraisal, inspections and lifting your contingencies.
After all is said and done, congratulations, you’re a homeowner!