Understanding your financial situation is a critical first step in the home-buying process. While it may not be as thrilling as perusing homes, it’s essential to determine what you can realistically afford. Knowing your purchasing power, comfortable monthly payment range and options for down payments and closing costs upfront can make a significant difference. It’s crucial to work with a lender who will take the time to explain these aspects and help you select the loan option that best suits your unique situation. Your lender should also be accessible to discuss the numbers on a specific property and advocate for your strong pre-approval with the home’s listing agent during the offer submission process, even on weekends or after hours. If you need assistance with the mortgage process, I can recommend trustworthy local lenders.

Before embarking on your home search, it’s important to have a discussion with your real estate agent about your home preferences, reasons for buying, and desired location. It’s also helpful to provide information about your lifestyle to assist them in finding suitable homes.

Take the time to ask yourself challenging questions about your needs and wants. For example, do you require access to public transportation, or would you prefer a yard? Do you need to live within a specific distance from your place of work? What are your expectations for your community? The answers to these inquiries will help narrow down your options and guide you toward your ideal home.

As your real estate agent, I will conduct a thorough MLS search and keep you informed of any new listings that match your requirements. Additionally, I will provide you with access to an exceptional app for browsing available homes. Together, we will identify properties that meet your needs and preferences.

When you’re ready, I’ll schedule showings and accompany you in person to view the homes until we find the one that’s the perfect fit for you.

After identifying the perfect home and obtaining pre-approval, it’s time to make an offer. As your real estate agent, I will help you determine a fair and reasonable offer price based on my experience and several key factors, including recent sales prices of comparable homes in the same area, the condition of the property, and what you are comfortable and able to afford.

I will communicate with the listing agent to gather information about the seller’s expectations, the level of competition for the property, and any other pertinent details that will aid in crafting an offer. Based on the circumstances, I will offer advice on your options for price and contract terms, so you can make an informed decision about your offer. Negotiation may be necessary, but once both parties agree, we will move forward with the contract.

After the contract is signed by both parties, it is considered final. During the next step towards the closing process, you will need to submit earnest money to be held by the title company. The earnest money serves as a good-faith deposit and shows the seller that you are serious about purchasing the home. The amount of earnest money required varies based on the purchase price of the home and is typically held in an escrow account until the closing. At the closing, you will settle all remaining financial obligations, sign the final paperwork and receive the keys to your new home.

During the under-contract period, which typically lasts about 30 days in the current market, there are several crucial deadlines and steps to follow. As part of the loan process, your lender will order an appraisal to verify that the value of the home aligns with the agreed-upon sale price. The appraisal safeguards both you and the bank from paying more than the home is worth or lending more than the property’s actual value. Consider including an appraisal contingency in your offer, which enables you to renegotiate or withdraw from the purchase if the appraisal report shows a lower value than your offer. It’s also recommended to include a contingency for inspection and appraisal in your written offer, providing you with crucial protections as a buyer.

As your agent, I will keep you well-informed and guide you through the process. We will arrange a home inspection, review significant documents such as the title, HOA, due diligence, and seller disclosures, and finalize your loan. If any significant concerns arise, there are several opportunities to cancel the contract and recover your earnest money.

Homeownership is just around the corner, but before you can officially become a homeowner, you need to finalize all the details and close the deal. The closing, also known as settlement, is the meeting where you sign the final documents, pay the closing costs, and officially take ownership of the home.

Request a final walk-through. Before closing, you should request a formal walk-through of the home 24 hours in advance. During the walk-through, make sure that all required repairs have been completed, the home is in the agreed-upon condition, and the seller has vacated the property completely.

Read the closing documents. Typically, you won’t have enough time to read all the documents thoroughly during the closing. To ensure that you have ample opportunity to review the documents at your own pace, ask your attorney or closing agent for the closing documents ahead of time.

During the closing, a title company will facilitate the transfer of funds and ownership, and you will need to sign a lot of documents to make it official.

Get the keys to your new home!