The Six Steps To Purchasing Your New Home!
Buying a home came be a fun, exciting and yet scary thing to do. I am here to help eliminate that scary part by providing you with a step-by-step processes to get you into that new home with as little obstacles to over come! Now the 1st and most important step is to... Find a Realtor. If you're looking to buy in the North Texas market and have yet to find one, feel free to contact me today! As an agent, I have the fiduciary duty to look out for your best interest and find that perfect home that will meet your needs at for you budget.
That one isn't so hard. So now let's move one to the 2nd crucial step. Getting pre-approved for a loan. Doing this will ensure that you have the financial backing to purchase a home, and will appeal to the the seller more to that than other offers since you will be considered a cash buyer. To do this, simply go visit the loan officer at your bank, if you wish to use another, I'd advise a local bank or credit union. As these tend to be easier to apply for the desired loan amount.
In our third step is where the fun begins. House Hunting! I'll put together a list of properties that meet all of your requirements, and together we'll pick out your favorite to go and view. Don't be afraid if you end up wanting the first house you view. Because we take time up front determining what you want in a home, we're able to narrow down the list to a select few, view the best ones first, and many of my clients end up buying the first home they see. There is love at first sight when it comes to home. Plus, sometimes you might have to act fast if it is a desired home. As waiting to look for another, some other buyer could already be in the progress of being in contract.
Once you find the home that you have been searching for, we'll move on to the 4th step. That is, making an offer! As the buyer, you have the right to back out at anytime, within a desired time line. We call this, the Option Period. You will write the seller a check for an already agreed amount to pay them in the case that you back out of the deal before the end of option. There is also earnest money that will be paid to the title company. This shows your sincerity because you are "earnest" with the decision to purchase the home. Any and all other compromises will be agreed upon in the offer. Which can either be counter offered, or accepted, and vise verse.
Step five is not a necessity, but is highly recommended. It is to order an inspection of the home. In all honesty, this can save you tons of money in the long run if there turns out to be any issues with the home. So if there is foundation, roof, insect, etc. problems, we can negotiate with the seller to see if they can have any of these fixed.
Finally, step 6! Closing! This is when you arrive to the title company and sign the last of the paperwork and finally get the keys to your new home! And I hope that this breakdown process aids in the idea of purchasing a new home. So if you're ready to buy or just have more questions, contact me at anytime!
Call Or Email Me Today! 940-704-7058 - TimothyLockhart@kw.com
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