The challenge of buying a home for the first time can seem overwhelming, enough so that you consider continuing to rent. But take heart, I will help you understand the process and find the ideal home for you to purchase, I'll examine what you'll need to consider before you buy, teach you what you can expect from the buying process itself, and share with you many handy tips to make life easier both during and after you purchase your first home.
Now that you've decided to move forward, let's look at what you can expect from the home buying process itself. This can be a confusing time with offers and counter-offers flying furiously, but if you are prepared for the process (and the paperwork), you can get through with your sanity intact. Here is the basic process you can expect:
1) Getting together
To make sure we get started on the right page, and the same page, we will meet at my office to get acquainted and discuss the upcoming process, the ideal home for you, and how I will work to make your dream into reality.
2) Consider your financing options and secure financing.
I will recommend a number of excellent mortgage loan people for you to choose from, or you can use your own. They will all offer you a variety of programs to find the right one to fit your needs.
3) Find a home.
Next we will search the listings online and in HAR for possible candidate homes. We’ll go visit the homes and compare them to find the best one. You should also drive around the neighborhoods that interest you to determine if they are a good fit for you.
4) Make an offer.
Once you have found the home you want, I will work directly with you so that you can intelligently decide how much money you want to offer for the house along with any conditions you want to ask for, like having the seller pay for a portion of your closing costs. I will then present the offer to the seller's agent; the seller will either accept your offer or issue a counter-offer. You can then accept, or continue to go back and forth until you either reach a deal or decide to look for a different home. If you reach an agreement, you'll make an escrow deposit and the process changes. There is now a short period of time, called the Option Period, often about 10 days where the seller takes the house off the market giving you the time to have the home inspected and to determine that you want to move forward with the purchase. There is an Option Fee paid to the seller for this consideration. This fee is not refundable, if you terminate the contract.
5) Obtain a home inspection.
Even if the home you plan to purchase appears to be flawless, there's no substitute for having a trained professional inspect the property for the quality, safety and overall condition of your potential new home. During this period we can negotiate for the completion of repairs. Or, if you choose, terminate the contract and receive your Earnest money back.
Congratulations New Homeowner!
There are many more details that we will go over on our first meeting. But, I hope this brief overview helps put you on the path towards filling in any gaps in your home-buying knowledge. Remember that the more you educate yourself about the process beforehand, the less stressful it will be, and the more likely you will be to get the house you want for a price you can afford - and with a smile on your face. So call me today and I can help you get started down this exciting path to home ownership.