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The Start

#1 question asked by agents to their new client – Are you Pre-Approved? For those who answer “no”, meet with a mortgage broker to determine which loan programs you qualify for and how much you can afford to pay for a home.

Pre-Approval

Those interested in purchasing real estate often approach a lender for financing. These lenders will check the buyer’s credit file along with their income and current debt to calculate the dollar amount the lender is willing to loan. This course of action is the pre-approval, and upon request from buyer the lender will draft a commitment (pre-approval) letter. Sellers are much more receptive to potential buyers who present their offer with a pre-approval letter.

List of Needs & Wants

Make a list of your needs; the ultimate ‘Must-Haves’ in your new home such as number of bed/bathrooms, location, even style of home- is one-story imperative due to accessibility factors, etc. Next, record a list of your wishes; the amenities that you would like to have such as pool, finished basement, etc. The right home shall meet the bulk, if not all, your important needs plus as many of your additional wants as possible.

Agent Representation

Consider hiring an experienced advisor (Elijah Jacobs) to guide and assist you in your purchase every step of the way. A great, dependable agent will provide reassuring communication; analyze your list of wants/need, finding homes that fit your criteria and budget; inform and educate you of current market conditions; process and double check all paperwork, deadlines, and co-ordinate the work of other professionals throughout the entire process.

The Process

Be open, thorough, and above all else patient during this stage leading to the closing date. The house is not yet yours, as the entire purchasing process stage typically lasts between 60-120 days from the time of accepted offer before the keys and deed exchange ownership.

Find Your Home

This every task can be a long and stressful endeavor so be mindful of what’s currently available on the market. Keep your list handy and communicate strenuously with your agent. You’ll learn as you look at multiple homes that your priorities may adjust along the way but don’t fell hurried to make a decision placing an offer on a home that you may regret later.

Make An Offer

Once you've found a home you love, the next step is deciding on a price. It's important to remember that a home is an investment. Your agent can give you information on other properties in the neighborhood to help you ensure you make an informed decision when it comes to price. Look to your agent to explain and guide you through the offer process.

Perform Due Diligence

A few extra dollars well spent now may save you big expenses in the long run. Don’t forget such essentials as:

Include inspection & mortgage contingencies in your written offer.

  • Have the property inspected by a licensed inspector.
  • Make sure all you give the contact information to each member of your professional team:
    • Real Estate Agent Rep
    • Real Estate Attorney Rep
    • Mortgage/Financial Lender(s)
    • Insurance Companies (Home Owners, Title)
  • Request a second walk-through to take place with 24hrs of closing. You want to check that no damages or changes have been made that were not agreed upon.

The Closing

It’s been a long haul, possibly filled with stress and anxiety, yet you’ve made it! Mission complete- celebrate your triumph, YOU deserve it!

Celebrate

There are many reasons for purchasing a new home: an addition to the family- new born baby or possibly an in-law or other family member moving in full time, re-location for work, maybe an investment property for rental income or vacation getaway. Whatever your specific reason was for purchasing the property, reflect on your journey and rejoice in your new beginnings.

Review

When settled, please find 10 minutes out of your schedule to leave a review on the outlet(s) related with your professional team. Agents and other professionals in field are service providers relying on the confidence and trust of our clients. Remember- the finest compliment we could ever receive is a referral from friends and clients.

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