Tips When Buying a Home
Buying a home can be an overwhelming process, it’s always wise to ask a lot of questions. Every real estate transaction is unique due to market conditions and location. By working with a real estate broker who knows the ins and outs of the real estate industry, you’ll not only end up with a great home, but also a positive experience. Here is a brief break down of the process of buying a home:
Choose the Right Home- For most buyers, choosing a home is an emotional process. Make sure you find the right home that checks all your boxes.
Make an Offer- Once you’ve found the home of your dreams have a real estate broker help research comparable sales of similar homes in the area to help determine a fair selling price. They will then help you structure an offer and negotiate to get the very best deal possible.
Get a Home Inspection- Completing a home inspection is the best way to ensure the home you’re buying doesn’t have any major underlying issues. Before the sale closes, you will have a walk-through of the house, which gives you the chance to confirm that any agreed-upon repairs have been made.
Have the Home Appraised- Lenders will arrange for an appraiser to provide an independent estimate of the value of the house you are buying. After the appraisal is complete, you will receive copies of the appraisal report, so you can see the appraised fair market value and check out the comps that were used in calculations.
Coordinate the Paperwork- There is always a lot of paperwork when buying a home. The title company, along with the real estate broker and lender will handle paperwork and make sure the transaction goes smoothly.
Closing the Sale- At closing, you will sign all the paperwork required to complete the purchase, including your loan documents. You should be prepared to bring funds to cover your closing costs. Once the transaction has funded and been recorded, you are ready to move into your new home!
Below are a couple helpful questions to keep in mind when buying a home:
Can I buy a home without a real estate broker?
Should I sell my current home before buying a new one?
Should I get pre-approved for a mortgage?
What happens after I put in an offer on a home?
What is earnest money?
Should I have the home I’m buying inspected?
What are closing cost when buying a home?
For all real estate questions contact Jeanette Raver and The Raver Team 505-554-2213