Buyers Guide

Buying a home can be an exciting, yet confusing process. It is literally not something you do every day (unless you’re a realtor), and it helps to be well-informed when it comes to each step of the procedure. Before you buy a home, these tips will serve as a helpful guide on your journey.

Define Your Goals

It’s good to decide what you want and then start doing your homework. Decide what kind of house you’re looking for, and start looking at your finances to determine how much you can afford to pay. The latter will have a great impact on the former; it will help you be realistic as you begin your search.

Engage A Realtor

No, really, you should not do this without the advice of an expert. It’s a complicated matter and no two transactions are alike. You need an experienced professional to guide you through the property search, financing, negotiation, and transaction. The market is constantly changing and it’s best to engage someone who knows the local area well.

Let us help you along your journey.

Get Pre-approval

You need to know how much you can spend. Preapproval means going to a lender and letting them take a look at your financial situation and credit history. They’ll determine the amount you can borrow, and you can start looking for homes in that price range. It will also make you a “qualified” buyer, which make work to your benefit when you decide to make an offer.

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Search and Find

If you have a clear view of what you want, it’ll be easier to find what you want. How many bedrooms do you need? How many bathrooms? How much square footage? Fenced in yard or zero-lot line? Which neighborhood? The Internet makes initial searches much easier, and allows you to more efficiently narrow down the houses you want to see in person. It is important to see homes in person – and here again, it’s useful to take along the experienced eye of a realtor who will likely notice things you might miss.

Let us help you along your journey.

Make an Offer

If you’ve found a home that suits your criteria and feels like “the one” it’s time to make an offer. There are contracts specific to transactions in your area, and they provide a way for you to offer a sale price and include any clauses, like deposit, closing and possession dates, and any other conditions. You and your realtor should go over these clauses carefully to make sure they represent your interests accurately.

Negotiate

Your offer may be accepted right away. It also may be rejected. Or it may come back with a counter-offer, and that’s when negotiating comes in. Negotiations can involve many factors, such as market conditions, home condition, and buyer’s financial health. A realtor can be especially helpful during the process of counter offers, with their deadlines for response, and meeting of conditions until an agreement is reached.

Let us help you along your journey.

Get Your Financing

Once you have an agreement and a pending sale, it’s time to finalize If you’ve been pre-approved, this should be pretty straightforward. If you haven’t gone through the pre-approval process, you’ll need to choose a lender and get approved for the loan, finalizing a down payment, determining an interest rate, and scheduling a payment plan.

Close The Deal

Once all that heavy lifting is done, you are in the home stretch and the last few details associated with closing the deal include doing a title search (and title insurance is recommended in case the records have errors), the final walk-through to make sure everything is in the same condition, and the settlement where you go to a lawyer’s office and sign mountains of paperwork. The settlement is also the time you pay closing costs, legal fees, and any transfer taxes. It’s also the time you get the keys to your new home!

Contact Us

We’d be happy to help you along this journey.

Contact us by filling out the form below (or call us at 317-920-9800 ) for more information about the buying process or to set up a consultation with our experienced realtors. We look forward to helping you!

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