I'm thinking of buying a home in Fort Wayne, but I don't know the process.

By
Real Estate Broker/Owner with Christiansen Group Realty (260)704-0843

 

Are you in the market to buy a home but have no idea about the process, what to expect, or the costs involved?  Here is a simple breakdown for you. 

Step 1.  Get Pre-approved.  This is a simple conversation with a local lender or bank.  They will take some of your basic information, run your credit, and within a day they will be able to tell you what you can comfortably afford.

Step 2.  Call a Fort Wayne Realtor®.  You need somebody on your side to help you through the complicated process of buying a home.  Of course we would love for you to call us if you are buying a home in Fort Wayne!

Sometimes we have buyer consultations with our first time home buyers, but they aren't necessary for everybody. 

Step 3.  Look at homes!  This is normally the fun part.  After we have found homes online that look good, we will go out and see them.  If we have a list of 10 or more homes, we recommend picking the top 5 and viewing those.  If none of those are it, we go to the next 5, etc. 

*  A few tips for showings.  If you have young kids and we are looking at numerous homes, it might be best for you to get a sitter.  Young kids (no matter how well behaved) get bored quickly and can be a distraction to you when you need to be paying attention to the home. 

*  If you are a young buyer and need your parent's approval, let's narrow it down to 1 or 2 before we bring them along.  It's much easier that way. 

Step 4.  Make the offer!  Once we find the perfect home, either Amanda or I will run comparables and share our opinion on the price of the home and what to offer.  In the Fort Wayne real estate market, homes are selling for 95% + of list price on average.  Every situation is different, which is another reason why you need a Fort Wayne Realtor® on your side.  Once we have reached an agreement on the home, we move to step 5.

Step 5.  Physically meet with the lender.  This needs to be done ASAP after the offer is accepted.  This is where you will officially apply for a home loan. 

Step 6.  Home Inspection.  We highly recommend that every buyer gets a home inspection by a licensed home inspector.  It's easy to see cracks in windows, water stains, or a cracked foundation, but a home inspector will test all the sytems in the home, including many things that we can't see.  On average, a home inspection costs $250-$350, depending on the property.  This is normally the buyer's expense and payable at the time of inspection.  One of us will be there at the home inspection as well.

Step 7.  Title work and Appraisal.  We will order title work through a local title company.  We do this to ensure that the home has no liens on it and that ownership is transferrable.  The lender will order the appraisal.  The appraisal is necessary to ensure that the home is worth the purchase price and it protects the lender.

Step 8.  Pre-closing activities.  A handful of days before closing you will need to call all utilities on the new home and have them transferred to your name on the day of closing or day of possession.  We will send you a list of who to call and their contact information.  A day or two before closing we will do a final walk through of the home to confirm that it is in good condition and nothing has changed.  A day or two before closing your lender will call you and go over the HUD (Settlement Statement) and let you know exactly how much money you need to bring to closing for your down payment, etc. 

Normally, it takes abour 30 days to close on a home once the offer is accepted.  Each situation is different.

Step 9.  CLOSING!  Closing in our area normally takes between 30-45 minutes.  Both buyer and seller are there along with their Realtors®, along with the lender and closer.  As a buyer, be ready to sign a giant stack of paperwork!  Oh, and don't forget your driver's license. 

Step 10.  Double check on exemptions.  The title company will file your homestead and mortgage tax exemptions, but we always remind our buyers to call down to the Allen County Assessor's office about 30 days after closing to make sure they have been filed.  If for some reason they haven't, and you miss it, your annual property taxes will almost triple.  That's a lot of money.

 

So there you have it.  A step by step breakdown of the home buying process.  We hope you enjoyed reading it.  If you or anybody you know is in the market to buy a home in the Fort Wayne area, please consider giving us a call at 260.704.0843 (Amanda) or 260.704.0842 (Jared).  Thanks for reading! 

 

Posted by

 

 

   

Fort Wayne Realtors Jared and Amanda Christiansen with Century 21 Bradley

Amanda Christiansen is an award winning Realtor with Christiansen Group Realty.

 

Jared Christiansen is a business partner and in charge of marketing and taking care of things behind the scene.

 

Enough about us...

 

Tell us what you want your real estate experience to be, and we will do it YOUR way.

 

Buying a home in Fort Wayne? Tell us your wants and needs. Let us know how you envision your family living.  Tell us what's important to YOU, and we'll find the community and home that fits.  

 

Selling your home in Fort Wayne?  Our job is to make you the most money possible in the shortest amount of time. We offer our sellers professional staging, professional photography, and more internet marketing than most. 

 

We are committed to giving you everything we have to offer.  We are both full time agents and will work around your schedule.  Do nights and weekends work better for you?  NO PROBLEM. We are here to help YOU at YOUR convenience.

 

Amanda can be reached at 260-704-0843, and Jared can be reached at 260-704-0842, or you can email us at JaredChristiansen@gmail.com, or Amanda427@gmail.com.

 

 

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Rainmaker
646,476
Bobbie Smith
Stroudsburg, PA
570-242-1891

Good list of the process for buyers Jared. Clear and precise!

Dec 11, 2012 07:04 AM #1
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Debbie Reynolds
Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Jared, A good agent will guide the buyer for step one to step ten. Great list.

Dec 11, 2012 12:29 PM #2
Rainmaker
416,037
Rose King
UTR, Texas Realtors - Friendswood, TX
Friendswood / Pearland Homes

Jared and Amanda, this is a great break-down of the homebuying process. I like that you kept it to 10 steps, and made it easy to understand! Have a great day!

Dec 12, 2012 11:11 AM #3
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John McCormack
Albuquerque Homes Realty * www.AlbuquerqueHomes.com - Albuquerque, NM
AlbuquerqueHomes.com, Albuquerque Homes Realty

You provided a good and quick list of to do's for home buyers.  The key is to work with a knowledgeable Realtor.

Dec 13, 2012 01:03 PM #4
Rainmaker
697,432
Chris and Dick Dovorany
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty

All great steps before a purchase.  I especially like the one about NOT bringing the kids or the grandparents.  Both can be distracting.

Dec 13, 2012 11:54 PM #5
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Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living
Jared, excellent outline and good reminder about the ID. There have been plenty of times either buyers or sellers had to leave the closing table to go back and get their drivers licenses.
Dec 14, 2012 10:25 AM #6
Rainmaker
1,073,671
Sharon Alters
Coldwell Banker Vanguard Realty - 904-673-2308 - Fleming Island, FL
Realtor - Homes for Sale Fleming Island FL

Jared, what an easy explanation of what to look for when you buy a home. This would be a great handout for first time homebuyers.

Sharon

Dec 14, 2012 12:06 PM #7
Rainer
27,309
George W. Jackson
Keller Williams Realty - Birmingham, AL
Great content! This should be required reading for ALL prospective home buyers. I hope you don't mind if I " borrow" this as a template.
Feb 25, 2013 06:25 AM #8
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Christiansen Group Realty
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