Loaded with“Insider Real Estate Tips”to help you save time,money & effort. This guide takes you step by step through the home buying process so you will be better informed to make a good decision when buying a home. If you have any real estate questions,call or email me I am always more than willing to help.
Step 1: Choose a Buyers agent to work with.
Work with a local, experienced, full time real estate agent that you are comfortable with. This agent will be your buyers agent. Your buyer agent protects you & looks out for your best interests. They are usually paid from the sellers proceeds of the sale (through the listing agent ) for their services. It is important to view the property with your buyers agent. If you go into a property without your agent there can be complications. Your buyer agent will contact the listing agent & make appointments to view homes with you. The agent showing the home is the listing agent. The listing agent works for the seller trying to get the most money for the property.
Tip- When viewing a home be careful not to show too much emotion to the listing agent. The listing agent is trying to get as much money as they can for the property. They will tell the seller you love the home & will pay full price - This could cost you.Step 2: Get a pre-approval from a local bank or mortgage company.
A pre-approval will give you an idea of the price range of homes you are qualified to purchase. More important you want to be comfortable with that payment. A pre-approval is needed when you submit an offer on a home. This tells the seller you are a serious buyer & a local bank is backing you.
Tip- Notice I suggested LOCAL bank or mortgage company. Buying a home today can be complex. You need a real person you can count on that can answer your questions,return your phone calls & be there when you need them. I work with a number of local banks & loan officers. I would be happy to suggest one best suited to your needs.
Step 3: Stay in contact with your buyer agent
Develop a plan with your agent to make it easy for you to obtain homes for sale & MLS listings as soon as they hit the market.
Step 4: Your buyer agent makes the appointment to view the home with you.
Tip- Drive by the property & check out the neighborhood. You may want to Google earth the property to see what is in the vicinity that could affect value or your quiet enjoyment of the property.
Step 5: View the property with your buyer agent.
You must view the property with your buyer agent. Your agent is experienced & will insure important issues are not missed, protecting your best interests.
Step 6: Making the offer
An offer for the property should be submitted in writing on a Real Estate Form. Your buyer agent has all the needed paperwork & will advise you how to get the home for the best possible price. Generally you will submit the offer with a good faith deposit of $100. The seller may accept your offer, say no to your offer or make a counter offer. Your agent can advise & guide you in the negotiations. Once buyer & seller have agreed you sign a P & S agreement.
Step 7: Purchase and Sale Agreement: Review the P & S Agreement with your buyer agent . Generally you give additional funds at this time & the sellers take the property off the market. You may also elect to have your attorney review the agreement.
Step 8: Work closely with your buyer agent & loan officer.
You will have 10 days after signing the purchase & sale agreement to complete a home inspection. A home inspection is highly advised. When you are satisfied with the inspection,contact your loan officer,they will order the home appraisal. Provide all needed paperwork to loan officer promptly so you can meet all important deadlines in P & S Agreement. Call your insurance agent you will be required to insure the home.
Tip- Do not make any major purchases that may affect your credit at this time.
Step 9: Attend walk through with buyer agent.
You get to view the home before the closing to make sure it’s in the same condition as when you viewed it last, Making sure all agreed upon items have remained.
Step 10: Closing Day !!
Attend closing with your buyer agent. Make sure you bring proof of identity. Attorney will advise of any funds needed from you. There may be delays beyond your control, do not be upset this is common. Especially in a foreclosure or short sale transaction. Unless otherwise decided upon you should receive the keys at the closing.
Congratulations!! You are a homeowner! Celebrate!
About the author…....Karen is a very dedicated full time Real estate Agent serving Westport MA,Dartmouth & the Fall River Mass real estate area. Karen loves her job & is passionate about helping you obtain your dream of owning your very own home. She offers a complete Home Buying Service at no cost to you. Her knowledge of the Greater Fall River real estate market, experience & negotiation skills could save you thousands of dollars! She offers:
1. Home Buying Guide “10 Steps to Owning your own Home” Better yet I will take the time to sit with you to walk you through the entire home buying process and answer all your questions.
2. E Z Home Finder Service- Free list of homes for sale Daily e-mail, fax, or call of all available homes in your price range.
3. Recommendations- Local lenders that fit your particular needs. Many offer First time home buyer programs, Grants & No money down programs. Karen has done extensive research on grants in Massachusetts. She will be happy to review your needs & recommend programs best suited for you.
4. Step by step personal assistance from finding the right home, negotiating the best offer, financial recommendations, arranging & attending inspections, help with all required paperwork, all the way to getting the keys at the closing.
Don’t go it alone, Karen has had the pleasure of helping many people like you, own their very own home. Call her today at (508) 636-3310 or email KarenMartin1@ReMax.net
Disclaimer: This information is provided to guide you through the home buying process. The duties of a real estate agent do not relieve the consumers of the responsibility to protect their own interests. If you need advice for legal, tax, insurance or land survey matters it is your responsibility to consult a professional in those areas. Real estate agents do not have a duty to perform home,lead, paint or insect inspections nor do they perform septic system, wetlands or environmental evaluations.