So you want to finally own a home but don’t know where to start? We Break down every step of the way from finding the home of your dreams to finally closing on it.
Step 1: Pre-Approval
The first step is to get in touch with a lender and obtain and pre-approval lender. Don’t know where to look? We can provide you with a list of preapproved lenders, they will set you up and get you started with everything you need to get pre-approved.
Step 2: Home Search Criteria
The next step is very important as we will discuss the criteria of what you need in your new home. We will sit down and discuss every aspect that you require in your new home ie how many bedrooms, bathrooms, yard space, etc. what kind of home you’re looking for and we will use that to determine what your search will look like.
Step 3: The Search Begins!
We will search together to find homes that interest you and I will set up showings accordingly. A first impression is important and
Step 4: Touring Properties
We will then start touring properties that match your criteria and narrow down homes that suit you and your life best.
Step 5: Market Analysis Report
Once we have found your dream home, I will provide what is called a Market Analysis report to determine what the value of the property is and what would be a reasonable offer to make on this property.
Step 6: Pre-approval Letter
Once you a ready to submit your offer you first need to request a preapproval letter from your lender, which I can also help facilitate.
Step 7: Start Transaction Process
Your offer will then be either accepted, rejected, or countered. If your offer is accepted then we will open escrow and start the transaction process
Step 8: Inspection Period
Upon mutual acceptance of your offer, we will then open escrow and set up your inspection. You will then have 10 business days to complete your inspection and negotiate any repairs that may come up. This opens up the next phase of negotiations. We will receive a written report of all the necessary repairs and submit it to the seller to negotiate all the repairs moving forward.
Step 9: Appraisal
After repairs are negotiated the lender will then order the appraisal to make sure that the home comes in at value and there are no other red flags to the lender that would affect the financing on this property.
Step 10: Enjoy your new home!
Once the appraisal comes back the escrow company and your lender will be processing all the necessary paperwork to move forward and close on the home. A couple of days before closing escrow will reach out to you to organize a time to sign on the property and I will meet you at the property and hand over the keys and Congrats! You’re officially a homeowner!
Published on 2021-10-12 15:39:08