Buying a home doesn’t have to be overwhelming. With this step-by-step guide, we’ve broken down the homebuying process to make it manageable and predictable, and to reduce the obstacles to purchasing a house.
Buying a home doesn’t have to be overwhelming. With this step-by-step guide, we’ve broken down the homebuying process to make it manageable and predictable, and to reduce the obstacles to purchasing a house.
REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics.
Benefit To Using a Realtor®:
An Expert Guide. Selling a home usually requires dozens of forms, reports, disclosures, and other technical documents. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes.
Objective Information & Opinions. Realtors® can provide local information on utilities, zoning, schools, and more. They also have objective information about each property.
Property Marketing Power. Property doesn’t sell due to advertising alone. A large share of real estate sales comes as the result of a practitioner’s contacts with previous clients, friends, and family. When a property is marketed by a Realtor®, you do not have to allow strangers into your home. Your Realtor® will generally prescreen and accompany qualified prospects through your home.
Negotiation Knowledge. There are many factors up for discussion in a deal. A Realtor® will look at every angle from your perspective, including crafting a purchase agreement that allows you the flexibility you need to take that next step.
Up-to-date Experience. Most people sell only a few homes in a lifetime, usually with quite a few years in between each sale. Even if you’ve done it before, laws and regulations change. Realtors® handle hundreds of transactions over the course of their career.
Your Rock During Emotional Moments. A home is so much more than four walls and a roof. And for most people, property represents the biggest purchase they’ll ever make. Having a concerned, but objective, third party helps you stay focused on the issues most important to you.
Ethical Treatment. Every Realtor® must adhere to a strict code of ethics, which is based on professionalism and protection of the public. As a Realtors®’s client, you can expect honest and ethical treatment in all transaction-related matters.
Understanding Your Finances. While you’re searching, get an idea of what you can afford.
Get Pre-Approved With a Lender. Lenders help you determine what you can afford when you’re buying a home. A mortgage pre-approval is a lender’s commitment to helping you finance a home up to a certain amount.
Research Market Conditions. Understanding the cost of homes near you will help you determine how much to offer on a home.
Understand What Happens When You’re Ready To Make An Offer. Once you’ve found a house you like, you’ll work with your agent to make an offer. Familiarize yourself with the process so you know what to expect.
Get Quotes For Inspection Services. Home inspectors help identify any underlying issues your home may have—such as problems with the foundation or electrical system. Getting an inspection before closing can help you decide if the home is for you, or whether you want to try to negotiate a better price. Home Inspection: What First-Time Buyers Should Know About Home Inspections
Understand what happens when you’re ready to go under contract. When your offer has been accepted, you’ll go under contract.
Get Your Home Appraised. A home appraisal helps determine how much your home is worth. The appraiser is typically chosen by your lender.
What does an appraiser do?
Get Your Home Inspected. Inspections are highly recommended to help find any underlying issues that may affect the value of your home and how much work it needs.
Get Quotes & Purchase Title Insurance. Title insurance is required by law and helps protect buyers and lenders against problems that may arise when the title of the home is transferred from one buyer to another.
Get Quotes & Purchase Home Insurance. You are required by law to get home insurance when you purchase a home. Shop around to find the best deals. Tip: Bundling your home, auto, and other insurance can save you money.
Get Quotes & Purchase Home Warranty. Home warranties help protect you if large ticket items—like appliances—fail after you have bought the home. If you purchase a home warranty plan before closing, it will be included in your closing costs. Sometimes, the seller will purchase a home warranty plan for the buyer.
Understand what happens when you’re ready to close
How Much Are Closing Costs? Plus: How to Reduce Closing Costs
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