Buying a home can be a scary, daunting task, rather you are 21 or 71! Our goal at United Country Exploration Realty is to make it a easy process from start to finish.
Buying a home today is so much different than even a year ago, and light years from buying a home 10-20 years ago!
Many clients ask what do I do first?
Look at homes?
Pick the biggest one that I know I can't afford?
How do I know what I can afford?
Does my credit score matter?
Who do I go to for a loan?
Whew, that gave us a headache just reading those questions, imagine being that lost in the process!
FEAR NOT! WE ARE HERE!
Let's take a look at how the process should work.
You have decided you want to be a Homeowner!
As a real estate agent, my job is to match you with a perfect fit for a home, but we need to know what your particular budget can afford. As REALTORS we can guide you to many lenders that we work with daily. These lenders will talk to you about your income, taxes, credit scores, and a time frame you are thinking about moving. When your lender receives the information he/she has requested, they will issue a pre-approval letter, usually with an amount or budget for home shopping- this is where the fun begins!
We will begin the search criteria of buying a home for you, finding you a match. Very important factors will come out during this process,
1. How many Bedrooms do you need? Do you anticipate your household growing?
2. How many Bathrooms?
3. Do you have a specific town/area you want to call home?
4. What are things you really just" want"? Shop? Pool? Fenced yard? Porch? The list goes on and on!
You and your real estate professional will start touring homes that meet the criteria and budget designed specifically for you!
Once you have found "THE ONE" - an offer will be written (check back later for a blog on making offers).
The offer will be sent to the listing agent and to the seller of the home. If the price and terms are agreeable, the seller signs, and viola- WE HAVE A CONTRACT! (Happy Dance!)
Your agent will take care of making sure that the contract goes to the lender and title company.
You, the buyer, will pay earnest money. What is earnest money you may ask? Well, it is your money that you are putting down "in good faith" that you are serious about buying this home. Your agent will work tirelessly to schedule inspections, receiving reports, reviewing them, and helping you understand and negotiate any repairs needed. (Check out United Country Exploration Realty's Home Inspection Video)
The lender will schedule an appraisal. Once this is back, you can almost see the finish line from here!
The title company will set a date and time for both parties to come to "closing", you - the buyer, will receive many things from your lender in the last little bit of the process. It is imperative be diligent in checking your emails, just in case they need something else to complete your loan. Dragging your feet on requests the title company needs will only slow the process and just make everyone cranky!
The day of closing, bring the amount of money agreed upon between you, the lender, and title company and your ID's.
You will sign lots of documents, sometimes it feels like your hand may fall off, but you will make it!
You will get the keys, smile for a closing picture with a key that would never fit in even Green Giants door, and then, get ready to move baby- because you are a HOMEOWNER!
Enjoy this process, ask questions, and understand we are all here to help you as much as possible!
Communication is the key! Not only with your REALTOR, but with your lender.
Welcome to the world of homeownership!