So, you have searched the web, looked at all of the photos, know the homes on the market, and you are ready to call a Real Estate Professional to find your perfect home.
Let’s discuss some techniques for purchasing your first home.
- See a Lender to know how much your loan approval will be and if you are qualified to purchase a home.
- Ask someone you trust to refer a Real Estate Professional. This will alleviate some of the apprehension and allow you to start the process with a trust level that you would not otherwise have.
- Sit down with your Agent and go over contracts and expected procedures prior to looking at homes. This allows for familiarity when you are ready to write an offer on the home you will purchase.
- Is Buyer Agency right for you. Representation is important and the advice and knowledge from your Agent is essential.
- Ask questions if you do not understand all of the terms.
- Do not expect to remember everything you initially discuss.
- Let your Real Estate Professional assist you with selecting homes to view. They know the market and have listened to your priorities.
- Look at 7-10 homes and discuss your likes and dislikes with your Agent.
- Your price range may change at this point. Seven out of ten buyers start at a lower range and work their way up to their comfort level.
- Find two to three homes you like.
- Revisit each one. You will more than likely know it’s the right home for you on the second visit.
- Make a selection.
- Make an offer and negotiate with the Seller. Remember, during the counter offer stage, you are not under contract and another individual can make an offer.
- Your agent will guide you through the amount to offer, your closing date request, inspection requests or due diligence, and the procedures necessary to submit an offer.
Your Offer was accepted. Congratulations, you are 30 to 45 days away from owning your first home.
What happens Next?
- All signatures from Buyer and Seller are obtained to create an executed contract.
- Deliver earnest money.
- See your lender and secure your financing.
- Start comparing insurance quotes.
- Work with your Real Estate Professional to meet all contract requirements.
- Give notice if you are in a current lease.
- Call the utility companies and give your information along with your new address and the date you will move in.
- Start packing
- Notify Postal Service of your new address.
- Negotiate any items necessary for contract to be executed on time.
- Read the Title Commitment and ask questions about what you do not understand.
- Do a final walk through.
- Review the Settlement Statement
- Receive the keys to your new home.
- MOVE IN !
I hope that your home buying experience is not only successful but also enjoyable!
Vicki Graham
The Property Exchange
http://RealEstateInCheyenne.com
Vicki@RealEstateInCheyenne.com
(307) 631-6884
Posted by: R.S.V.P. Team
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