Most homebuyers are a little fearful of purchasing a house because they are not sure where to start and what exactly it is they need to do.The list below breaks down the steps for purchasing a home:
Choose your Realtor.Realtors work strictly on commissions.Even if you are not yet ready to purchase a home, it is best to choose your realtor to start the process.Your realtor will work with you until you are ready to purchase.
Get pre-qualified for your mortgage loan.Choose a reputable lender, preferably a local lender.Your lender will take information from you and based on that info, he or she will tell you what the most you can qualify for.You don’t want to start looking at $100,000 dollar homes then find out you can only qualify up to $90,000.Your lender will give you a list of documents and information that you will need to provide in order to process your loan.The lender will also give you an estimate of the amount of money you will need to purchase.
Start your home search.Contact your agent and schedule some time to preview some homes.A good agent works hand in hand with your lender.When you find a home that you are interested in, your agent, along with the lender, will figure costs to purchase and total house payment on the property.
When you are ready, make an offer on the property.Your agent will draw up your offer and present it to the seller’s agent.You never need to deal with the seller directly, so….always offer less, see what kind of deal you can get.Also, the seller is allowed to pay closing costs for the buyer, don’t be afraid to ask for that.A good agent works for you, representing you, getting you the best possible deal.When buyer and seller come to an agreement, you are officially under contract.Your agent will provide your lender with a copy of the signed contract in order to complete the mortgage process.
Order an inspection.Your agent will provide you with a list of inspectors, all certified by the state of Texas to do the inspection.You will need to be present at the inspection.
Negotiate repairs off the inspection with the seller’s agent.
Order appraisal.The appraisal will confirm that the house is worth what you are paying for it and what the lender is loaning you on it.
Get homeowner’s insurance.
Order survey if there isn’t an existing one.
Follow up with your lender to make sure all is going as anticipated.
Schedule your closing date with the title company.
Before signing final docs, do a walk-thru of your house to make sure all is well and repairs have been completed.
Sign your final documents at the title company and get keys to your house, and MOVE IN!
SMARTEST MOVE EVER?Choose me as your Realtor!You take care of step 13 and I will do the rest!I will work hard for you, keeping your best interest at heart, thru the entire process, and all decisions will be approved by you.
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