Buying A Home? Here Is The Basic Information You Will Need to Know  

If you want to know to expect – and you have a knowledgeable team of real estate and mortgage-lending professionals to guide you – finding and financing your first home can be an exciting and rewarding experience. Here’s what you need to know:

1

Obtain A Mortgage Preapproval Before You Begin House Hunting

  • Learn how much financing is available to you

  • Strengthen your bargaining position with sellers

Why?

Step

2

Choose a Real Estate Agent You Can Trust

  • Ask mortgage lenders to recommend agents they work with

  • Select a reputable professional who knows the market and will listen to your needs

  • Ask agents for references from former clients

How?

Step

3

Find The Right Home

  • Determine the needs of you and your family

  • Create a wish list of desirable features

  • Take notes as you preview homes

How?

Step

4

Make An Offer

  • Your real estate agent presents your offer to the seller, who will accept, counter or reject it

  • When the price is settled, you and the seller sign a Purchase Agreement, defining the terms of the sale

How?

Step

5

Have The Home Inspected

  • Hire a professional home inspector after the offer has been accepted to provide an in-depth look at the basic systems of the house, to reveal any safety hazards and give you a chance to reconsider the deal

Why?

Step

6

The Home Will Be Appraised

  • An appraisal, required by your mortgage lender, is a formal, written estimate of the home’s current market value

Why?

Step

7

Title Insurance is ordered.

  • This guarantees that the property you are purchasing is free of liens or confusion in rights of ownership

  • The policy insures against any losses to the property that result from defects in the title or deed

  • The Title Company is who prepares all the final documents and where you will meet with the seller's to sign everything and "close" the deal.

Why?

Step

8

Close on the Property

  • Ownership of the property is transferred

  • A closing agent coordinates and distributes all the paperwork and funds

How?

Step

Get In Touch

Do you have questions? Do you need help with purchasing a property or refinancing?  Get in touch. Contact Therese today, and she'll be able to answer any of your questions. 

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