It is super scary to purchase your first home. You have no clue where to start! I am going to provide a simplified step by step of what to expect.
1) FIND A REAL ESTATE AGENT
I know! Most people think... well.. they are going to charge me, right? This is NOT the case. The majority of the time agents do not charge when you are buying. Why? The seller has signed an agreement to have the home listed and PAY this to your agent. Yes, there can be times this is not the case. SO do not buy that house because it is an UNFAIR deal.
2) CASH OR FINANCING?
This is such an essential element to decide from the beginning. If you have cash to buy a home, I would try to go this route. It can make the purchasing process easy! But, if you do not, I would not let this detour you. Financing a property is still easy and a great way to get into your first home. AGAIN, have an agent at this point. Most agents, like myself, have lenders that can assist and, the agents have a developed relationship with the lender to help make the approval process more seamless
3) FINDING THE PERFECT HOME
Many of us looking for properties will look on sites, such as, Truila, Zillow, Craiglist, etc. These sites are great! But, many times not updated to show pending contracts and/or sold properties. AGAIN, get an agent who can make the home searching process faster and easier. Agents have access to the most up to date information about properties. So, as soon as a property goes on the market, your agent can let you know and set-up that showing the same day.
4) PLACING AN OFFER
This is where having an agent will make this part easy. Once you have found a perfect place, your agent will send in an offer that each of you agree on. The agent handles the process of getting your contract to the listing agent. Your agent will help negotiate on your behalf and make certain that you are happy at the end. Unfortunately, this can be a waiting game and, at times, your first offer will not be accepted. Your agent has no control over the sellers decision. REMEMBER, your agent is on your side. Be patient because eventually an offer on a home you love will come through. :)
5) CLOSING ON YOUR HOME
Once you have an accepted offer, it does not end.. SORRY. You will want to complete an inspection. An inspection will give some insurance that the home does not have any issues. The inspection is an expense. But, worth it! You do not not want to close on a home that has issues not disclosed by the seller. After this point, and the inspection shows nothing significant, everything moves to closing on the home. Finalizing financing (if financed), signing all closing docs, and getting those keys! This process will seem to take FOREVER for some. Just remember that the right agent will make it easy.
Overall, do not be scared to buy a home. Yes, it requires time, investment, and risk. But, at the end, you will have a home that you can come home to each day that is YOURS. You can make modifications, decorate, paint walls, and do as you please. Plus, you are making a long term investment that can be beneficial to your future.
If you need agent, you can always call me! I would love to assist you. (972) 836-9295 Ext. 580 Jenniferflynnhomes.com
Author:Jennifer Flynn Phone: 972 345 2017 Dated: May 18th 2016 Views: 657 About Jennifer: I currently live in the Plano area with my son and husband. My family and career are my two main pas...