Now is the best time to purchase a home!! Rates have never been this low for 30 years and the housing prices are down!
The best part of my job that I truly enjoy and feel so blessed to be able to do is to help someone to purchase their first home! Below are the steps that you should do in order to make your home buying process as stress free as possible.
- Find a Realtor! Find a Realtor! You can do this by asking your family and friends who they used when the bought or sold a home, by internet and looking at their website, you can research one Realtor.com or the local MLS. Once you find an agent that you think you would like to work with, contact them and schedule a meeting time to sit down with them to discuss your wants and needs. The Realtor may suggest that you call a lender and get pre-qualified first prior to meeting and that is okay because at your meeting it will be helpful for that Realtor to know you are qualified to purchase a home and the price range. Interview the agent that you meet- ask him or or questions that are important to you and make sure they are a full time Realtor.
- Get Prequalified! I think selecting a Realtor should be the first step of your process because they can provide you with a list of local lenders that are the best and who provide superior customer service to you. Your Realtor will know this information based on past experience verses you contacting a lender cold turkey! Once you have the name of a lender contact them and by one phone call you can find out if you qualify to purchase a home and what price range you will need to look within. Should you decide to shop lenders that is fine, I however would not shop more than 3 because you will find it is a bit over whelming. Ask for a Good Faith Estimate and compare the interest rate, closing cost and your payment.
- Call your Realtor! Call the Realtor that you sat down with and let them know you are pre-qualified and ready to start looking at houses! By knowing your price range, your wants and needs such as how many bedrooms, bathrooms and area’s you would be willing to look and live in he or she can program their computer to send you every listing that matches your wants and needs and the best part is as new listings come available you are automatically emailed that new listing making you one of the first to know about that home! The most important part of having a Realtor is that person will be your Buyer’s Agent which means they represent you and have your best interest in mind! They can help you in finding the home and negotiating the best price.
- Start looking! I can not stress how important it is to Drive by the home that peaked your interest on the internet prior to scheduling a appointment with your Realtor! This will save you so much time and energy because more often than not you can rule out if you want to look inside by what you see on the outside and the neighborhood! Remember your Realtor can show you Every home on the market, not just their listings therefore it is very important to call him or her for every home you want to see!
- Purchase! By now hopefully you will have found a home that will suit your wants and needs! It’s okay make an offer on the home! It will or should be contingent on things that would protect you such as financing and a home inspection.
- Home Inspection! The home inspection comes after you have found a home and have written a contract that has been accepted! Ask your Realtor for recommendations on who to use for your inspector! The home inspection will look for structural items, heating, cooling, electrical and plumbing! This isn’t the time to look for cosmetic items, they need to be addressed while writing your offer!
- Closing! Hopefully your contract has been accepted and you are finished with the home inspection and well on your way to closing! Don’t forget to call and have the utilities changed into your name and you will also need Home Owner’s Insurance in place on the day you close. Typically buyers will check with the insurance agent their car is insured with but I would also check a few other places to compare rates. Your Realtor may have recommendations for Insurance Providers as well .
- Congratulations! You are now a happy home owner. Remember to do the routine maintenance on your new home such as changing the filters! This will help you with your electric bills but also prolong the life of your furnace.
Please keep in mind that this was a brief overview of how to purchase a home! Should you have more questions you would like for me to answer please feel free to respond to this blog, e-mail or text me and I will be happy to help you! Or if you are looking to purchase a home and would like to sit down with me please contact me and I can help you get started!
Brandi Tyree, 434-942-7003