Buying a home is a journey.
Buying a home usually represents your single biggest investment – and debt.
Adequate research, knowing what you want and what you can afford, and the assistance of a professional real estate agent are the keys for the best outcome.
Like any new journey you might take, it helps to have guide, a road map if you will, with detailed steps to help you along the way.
12 Steps to buying a home:
Meet with a real estate professional:
Discuss the type of home you're looking for, including style, price, and location.
2. The Buyer's Advantage:
As the home buyer, your agent's commission is paid by the seller of the home in almost all circumstances. This means your representation costs you nothing!
3. Get Pre-Approved:
You will need pay stubs, W2s, and bank statements. Knowing what you can afford is critical to a successful home shopping experience.
4. Search for Homes:
The fun part! Your agent will schedule showings and help you find the perfect home.
5. Advanced Search:
Not all real estate websites are the same. Your real estate professional has tools and systems to ensure you see every available home that meets your criteria.
6. Make an Offer:
Your agent will prepare your offer based on the price and terms you choose.
7. Negotiation and Contract:
It may take a few tries to get it just right, but hang in there. You're on your way!
8. The Contract:
In most cases the contract provides you with a timeline to obtain financing as well as time to inspect the physical condition of the home. Your real estate professional will inform you of all your rights and responsibilities related to the contract.
9. Under Contract or In Escrow:
You and the seller have agreed to the price and terms. The home is effectively held for you until closing.
10. Final Details:
Perform due diligence, order the appraisal, conduct an inspection, and review terms with the lender.
11. Preparing for Closing:
You will be finalizing your loan, reviewing documents, and discussing the findings from the inspection. Your agent will manage this entire process for you.
This is the transfer of funds and ownership. A title company or an attorney typically acts as an independent third party to facilitate the closing.
Buying a home can be overwhelming and perplexing at times.
It helps to be prepared and have a guide to follow.
Download your PDF version of “The Home Buying Road Map.”
Get your FREE Home Buyer’s Guide here!
This FREE service/info is brought to you by:
Jeff Herrera, Licensed Real Estate Agent, Lyons Share Real Estate.
Serving Las Vegas and Surrounding Areas.
Have Questions? Call Today! (702) 481-4887