So you are thinking about buying your first home! You're weighing out the added cost and responsibility of home ownership while looking at your taxes to see if those advantages outweigh renting. Of course they do, not to mention, the amount of equity that you are building.  You understand now the advantages to you in owning your home versus renting. But do you truly understand what you buying your first home means for the good of the Country? Let me try to break it down for you.

You find that perfect beautiful new home for your family and put in an offer through your buyers' agent.  Immediately, besides your buyers agent, the sellers' agent, your loan officer,  the loan processor, the loan underwriter, the title agent, the research assistant,  and the closing agent begin working to insure that you have a smooth transition into your new home.

While all of these people are diligently working behind the scenes, your buyers' agent is scheduling the necessary people to inspect your new home. These include the home inspector, the pest inspector, and the insurance inspector for your home-owners insurance company. These are the basics but you may have other inspectors or even contractors that may need scheduled according to the terms of your purchase agreement.

Next the appraiser comes to measure and take pictures to put together a very detailed report of your property and the neighborhood. The appraiser will submit the report to the mortgage company with a projection of the price that this is the fair market price it will likely sell for. If the sellers' and buyers' agents have done their counseling properly this number should be equal to or greater than the contractual offer.

At this point, NO LESS THAN 12 people have been involved in helping you to make your dream a reality. The entire process normally occurs within 30-45 days of your offer submission.

Closing day arrives and everyone is extremely excited, because with everyone working together, you now have the keys to your first, new dream home! Each individual that has worked so hard for you the last 30-45 days is now receiving their reward-A PAYCHECK! With keys in hand, you are now thinking of moving and all that has to be done-but because of your purchase of that one home-please understand that your contribution to the economic system did not stop there.

That entire army of people that have had a hand in the home buying process is now ready to pay their bills and  head to the grocery. I will keep the example simple-but I am sure you will get the idea:

-Everyone buys some canned green beans

-the Grocer runs low on Green Beans so he orders more canned green beans

-When the distributor gets the order for green beans, he must order more from the manufacturer

-To fill the order, the manufacture must order more metal cans from his supplier and of course green beans from the farmer

-The farmer sees that his green beans are selling well and he needs more space, so he goes to his Realtor to buy more land!

AND the entire process begins again! Thousands of people across this Nation have been affected and are more secure in their jobs because you made the wise decision to buy your first home.

Thank you for supporting your family, your neighborhood, your State, and the Nation!

Stephen Luckett-Fairfax Realty

LuckNet Real Estate Group.com

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