If you are thinking about jumping into the world of home ownership but don’t know what the process will be like here is a quick guide to set expectations:
#1 – Start with the basics:
You will need to decide on how large you want the home to be along with any other features you desire, we recommend coming up with a wants vs needs list. This list should break down the things you want in a home but are not deal breakers if you don’t get them and the things you need in a home that you can’t live without.
#2- Know your budget:
Before you speak to a lender you should have a good idea of how much you would like to pay per month including taxes and insurance, this will help your lender come up with a good amount to start with on your pre-approval.
#3 Choose an agent:
Obviously we hope you will choose one of our highly trained agents to assist you but you should probably have an agent in mind that you want to work with at this point, make sure your agent has experience in the area’s you are looking to buy and has the time to work with your schedule.
To view a list of all our agents visit: https://searchdhre.com/agents/
#4 Choose a lender:
Having a knowledgeable lender is very important, we also recommend choosing someone local so you always have somewhere to go if you need to sit face to face with someone. Your agent should be able to teach you the difference between a mortgage broker and a banker, the difference between them could help you narrow it down. Your agent and lender hopefully know each other and will work together to guide you through the process.
#5 Home inspection:
Once you find the perfect home you will need to get a home inspection done on the property, look for someone who has years of experience and has good reviews. I am sure your agent will have a few people you can call as well.
The home inspection is your way of knowing the flaws in the property you are buying and hopefully get those flaws addressed by the seller before closing.
#6 Appraisal & Underwriting:
Your lender will help you order an appraisal on the property to ensure the home is worth what you are purchasing the home for, you will receive a copy of the appraisal before closing so you can be even more confident you are making the right move.
Once the appraisal is complete your lender will put you into final underwriting for the loan and get a final approval.
You have arrived to the end of the transaction, at this point your agent should be walking you through the home one last time to ensure everything is correct. After the final walk you will attend the closing where you will sign the documents to complete your purchase, this should take roughly 45 minutes to complete.
You will now be a home owner!
Please reach out to us if you have any further questions:
412-939-SOLD or firstname.lastname@example.org