Buying a home is a process. With preparation the home buying process can flow very smoothly. I want to help with the steps necessary to purchase a new home in such a way that it is nothing more than an awesome filling experience for you and your family. So, lets get started with the Home Buying Process 101.
Step 4 - Finding that right home to buy
There is nothing more exciting they say than the hunt. On the flip side, it can also be time consuming looking at homes that do not really fit your descriptions. This is where I come in. I have ever tool available to help assist you in finding the perfect house or piece of land for you. Whatever you are looking to buy, I can find for you. The first step is to make a list of MUST-HAVE'S and a separate wish list (things you would love to have but could live without). Here are just a few things to ask yourself.
- How many bedrooms do you need
- How many bathrooms do you need
- Fenced yard or property
- Kitchen size and cabinet space
- How many garages or sheds
- Size of yard for kids or pets
- School district, neighborhood & commute
- Nearby home appreciation values
- and more...
Do not be afraid to list out all that you desire. By this time you have already been pre-approved so you know about how much home you can afford. I can assist in helping you define all the parameters and then return the results of available homes to you. We then go house hunting and look at open houses of your top choices. We can narrow down all of your searches via internet with all available data on the home with pictures. This saves time, money and possible disappointment.
Step 5 - Making an offer on the home you found
You have found what you believe to be the perfect home for you and now it is time to make an offer on the home. It is not unheard of at all for sellers to hike the price of their home above what it is actually worth. This is where I come in. I generally start out negotiating at least 5% to 10% less than what they are asking. You can also get a list from me of comparable home prices in the area of the home you are looking at to better assess the value of nearby homes.
We will make an offer to the seller. Generally they think if over and offer a counter offer to yours. You may want to counter offer back. Eventually and rather quickly you meet in the middle and you place a good-faith earnest money deposit. This shows you are serious about purchasing the home.
Step 6 - Choosing the right mortgage for you
Depending on your situation there should be several home finance options available to you. Your mortgage lender or mortgage banker will help you decide which options best fits your situation. They will discuss adjustable rate, fixed rate and interest-only loans as well as first time buyer programs if you qualify.
Step 7 - Closing on your new home
This is a very exciting time. But there is a couple of steps left. One of those steps is to get a home inspection. This will reveal anything you might not know up to this point. I have several home inspectors that I trust that I use here in Kansas City and they are well worth the money spent to make sure your new home does not have any surprises. They make sure your home is structurally sound and in good condition. You will also set a closing date with the seller. This can be conditional based on both sets of schedules, your release or old home sale and their possible new home closing. Some patience here is required but I am with you ever step of the way. And finally, closing costs. This may involve your down payment, appraisal fees, attorney fees, inspection fees and or points you purchased to buy down your interest rate.
We have walked together down the path to purchase a new home and you have arrived. It is now time to move in. You have completed the home buying process and now its time to recruit friends and family to help assist in the big move. Buying a home does not have to be a hassle. This is what your real-estate agent is for. To handle, instruct and guide you down the winding road to home ownership. By the end of this wonderful journey we will have become close and hopefully good friends.