You’re ready to buy - or maybe you're just ready to start seriously thinking about buying. There’s a lot you can do to prepare. With so much information available at your fingertips, you may already be doing a lot of your own research. Here are a few things to keep in mind while you get started.
The best place to start when buying a home is to find out how much house you can afford. Your Windermere broker can refer you to a loan officer who can assist you with determining how much of a down payment you can afford, along with a monthly payment you are comfortable with, and the type of loan that fits your needs best. Serious buyers who are highly motivated should go through the effort of getting pre-approved; not only will this allow you to focus your home search, but it will also position you as a serious buyer in the eyes of sellers when the time comes to make an offer. Check out our Mortgage Center for more information about financing.
Imagine your ideal home and community. Now make a list of everything you envisioned. Then take that list and break it down from high to low priority. High-priority items are the things you cannot live without in your new home. Lower-priority items are those that are an added bonus, but not necessary. Your list can include things such as: number of bedrooms, need for a yard, style of home, and access to schools and shopping.
Some people look at several homes before finding just the right one. And others find “the one” immediately. Thanks to the internet, you can streamline your search process significantly by checking out homes for sale online. And when you’re ready, your Windermere broker can tour homes with you on your schedule and create a personal checklist for each one. If you’re not quite ready to start working with an agent, you can visit open houses and preview everything that’s for sale in your market here.
You’ve found the home you can see yourself living in, now what? There are several steps to the buying process you will go through before you can officially call it your own.
Once an offer on a property has been made by a buyer and accepted by the seller, they enter into a legal contract known as a Purchase and Sale Agreement. This document outlines the specific terms and conditions of the transaction and is acknowledged by both parties by the signing of the document.
Once a buyer and seller reach mutual acceptance on a property, a home inspector is hired to investigate every nook and cranny to determine if the home is in need of any repairs. An inspector will check items, such as the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. Afterwards, buyers will have a chance to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions.
Whether you’re a buyer or a seller, negotiation is the key to getting the best deal. Negotiations can involve everything from settling on a sales price to concessions and financing. Windermere brokers are expert negotiators whose job it is to represent your interests during the give and take of a real estate transaction.
You may already be pre-approved, but now that you’re closer to the actual purchase price, you’ll be working more in-depth with your lender on your final loan approval. To learn more about this process, pay a visit to our Mortgage Center .
You will receive a full report detailing the property history for you and your lender to ensure there are no legal encumbrances between a new owner and the property being purchased.
Once the offer is accepted and a closing date agreed upon, escrow allows the buyer and the seller to have an outside party ensure all parts of the contact are complete. Your Windermere broker can help coordinate the completion of all necessary forms to the escrow company and monitor the escrow process until the transaction is complete.
At closing, all the paperwork is signed by the buyer and seller, both parties pay any settlement fees and the documents are officially recorded. Prior to closing, you'll receive a settlement statement outlining any fees which may apply to you. After closing is finalized and recorded, the home is yours!
"Chuck Hynden was honest, fair, explained everything clearly, he never left us second guessing. He offered advice when needed and told us what to expect. We felt blessed to have him as our realtor."
“My agent, Steve Crossland, was the best! I always go an immediate response to all my emails or phone messages and always available when I come over. Thank you!”
“Mark Dembro is a top-notch pro. We’ve looked at properties now and then for five years! Finally pulled the trigger and all is working out great. Thank you!”
“Amanda Steurer is the best! Professional, friendly, caring, considerate, going beyond expectations!”
“Becky Belding is a thorough and excellent realtor. She listens, cares and always gives it her all!”