Buying A Home

By
Real Estate Agent with McCall Montgomery Real Estate
Buying A Home! http://www.mccallmontgomery.com There is so much that goes into buying a home. Many people think it is just about the schools, or specific areas, but truly there is more involved. To be on track with everything that needs to be done in the home buying process, McCall Montgomery Real Estate is here for you. Our agents represent skilled, qualified agents and associate brokers who are here to help you every step of the way. Now we know that you are shopping around online, because 57% of homebuyers find what they are looking for online, and that is also where they find their agent, because a computer can't negotiate for you. McCall Montgomery Real Estate have composed a couple of tips for you to keep in mind when preparing for your home buying process. These are only suggestions, and we want you to know we are always here if you need us. The biggest variable in terms of the home buying timeline is how long you to search in order to identify the home you want to buy. According the the National Association of Realtors Home Buyer Survey in 2008, the average buyer actively searched for 10 weeks prior to identifying a property to buy, and viewed an average of 10 homes total over that period (and that's usually after a while of searching for homes online). There is a lot of variability in that, of course. Generally speaking, after the search phase, from the point when you identify a property you would like to buy, it is about a 6 week process to buy. During that time there are 4 main steps: 1. The Negotiation Typically taking 1-3 days, you submit your offer to purchase and negotiate with the sellers all the nitty gritty contract details. (In case you're wondering about negotiating tactics, start with these 5 questions). 2. Due Diligence Once negotiations are complete, things kick into overdrive for a period of about 10 to 14 days. During this time, you'll have your home inspection, review the financial and legal records of the association (if you're buying a condo), communicate with your lawyer about the full purchase contract (P&S agreement) details, and start the next step.... 3. Obtaining the Mortgage By this point you would have already been preapproved for a mortgage, but now you'll be completing the full loan application, providing your mortgage rep with all necessary verification documents (tax returns, etc), and officially deciding which loan program to go with. The bank will review your documents, have an appraisal on the property completed, and finally approve your loan (hopefully!) in about 2-3 weeks. 4. The Closing The closing is scheduled at the convenience of both parties - the buyer and the seller - and is part of the negotiation process at the beginning to decide on an acceptable date. Generally 4 weeks or so after the purchase contract is signed, which gives give the bank enough time to approve and fund your home loan, and gives the closing attorney enough time to verify clear title for the property. That brings you to about 6 weeks from the initial offer, plus the search time prior to that, in total to purchase your new home or condo. Buying a home can be a long and complex process with a lot of steps along the way - but it doesn't have to be difficult or stressful! Hopefully this info explained the basics of the process and gave a ballpark time frame to purchase. We want to keep you up to date on all things Real Estate, so become a follower of our blog, and we hope to hear from you soon. McCall Montgomery Real Estate wants to make your dream a reality! POSTED BY MCCALL MONTGOMERY REAL ESTATE AT 11:03 AM EMAIL THISBLOGTHIS!SHARE TO TWITTERSHARE TO FACEBOOKSHARE TO GOOGLE BUZZ 0 COMMENTS: POST A COMMENT Newer Post Home Subscribe to: Post Comments (Atom) FOLLOWERS BLOG ARCHIVE ▼ 2010 (2) ▼ November (2) Buying a Home: Buying A Home! Buying A Home! ABOUT ME MCCALL MONTGOMERY REAL ESTATE We are a fast paced and growing Real Estate company with two locations. One in Denham Springs,LA and Baton Rouge, LA. We use modern day technologies, to assist in the process of all of your real estate needs. We want to make your dream a reality. So Call us today aty 225-665-1235 or visit us http://www.mccallmontgomery.com VIEW MY COMPLETE PROFILE
Posted by

Carri "Mac" Brown- REALTOR

www.mccallmontgomery.com

www.carribrown.com

www.ouragentswin.com

 

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