How to Buy a Home in 2019

By
Real Estate Agent with Home Run Realty RB14001322

Fear of the unknown is common among all ages.  Kids, at night, imagine monsters in their closets or under their beds and adults are unsure of what the future might bring.

It may be natural for first-time buyers to be unsure of the process because they haven't been through it before but even repeat buyers need to know changes that have taken place since the financial housing crisis.

The steps in the home buying process are very predictable and generally, follow the same pattern every time.  It certainly makes the move stay on schedule when you know all the different things that must be done to get to the closing.

  • In the initial interview with your real estate professional, you share the things you want and need in a home, discuss available financing and learn how your agent can represent you in the transaction.
  • The pre-approval step is essential for anyone using a mortgage to purchase a home to assure that they're looking at the right price of homes and so they'll know what they can qualify for and what the interest will be.
  • Even with lower than normal inventory, it is difficult to stay up-to-date with the homes currently for sale and the new one just coming on the market.  Technology has simplified this process, but the buyer needs to implement them.
  • Showings can be accommodated online through virtual tours, drive-bys and finally, a personal tour through the home.  Your real estate professional can work with you to see all the homes in the market through REALTORS®, builders or for sale by owners.
  • When a home has been identified, an offer is written and negotiation over price, condition, and terms takes place.
  • A contract is a fully negotiated, written agreement.
  • Escrow is opened to deposit the earnest money from the buyer as a sign they're acting in good faith.  The title search is also started so that clear title can be conveyed from the seller to the buyer and that the lender will have a valid lien on the property.
  • 88% of home sales involve a mortgage.  The lender will require an appraisal to be sure that the home can serve as partial collateral for the loan.  If the buyer has been pre-approved, the verifications will be updated to be certain that they're still valid.  The entire loan package when completed is sent to underwriting for final approval.
  • When the contract is completed, at the same time the title search and mortgage approval are being worked on, the buyer will arrange for any inspections that were called for in the contract.
  • After all contingencies have been completed, the transaction goes to closing where all the necessary papers are signed, and the balance of the buyer's money is paid.  This is where title transfers from the seller to the buyer.
  • Possession occurs according to the sales contract.

One of the responsibilities of your real estate professional is to make sure that things are done in a timely manner so that the transaction will close according to the agreement on time and without unforeseen or unnecessary problems.

Even if you're not ready to buy or start looking yet, you need to be assembling your team of professionals.  Let us know and we'll send you our recommendations, so you can read about them on their websites.

If you have any questions, download this Buyers Guide and call us at ; we're happy to help.  Informed buyers lead to satisfied homeowners and that is better for everyone involved.

Posted by

Stacey Kiernan 

REALTOR, CRS, ABR, ASP

Home Run Realty/Keller Williams Indy Metro NE

Servicing buyers and sellers in the Hamilton County &Indianapolis Metro area since 1999

Three easy ways to contact me:

email me directly stacey.kiernan@KW.com

visit my website to search for homes or find the value of what your home is currently worth visit: http://www.hrrealtygroup.net/

call or text me directly on my cell:317-513-0141

The choice is yours.  Let my expertise work for you! 
Servicing the Hamilton County, Indiana & Indianapolis North Metro Areas/ Carmel, Fishers, Westfield, Noblesville, 
Zionsville, Castleton, Broad Ripple, Lawrence, Geist, Keystone at the Crossing.

 

*** Voted one of the Indianapolis Areas 2011,2012,2013 & 2014
 "FIVE STAR REAL ESTATE AGENTS" by an independent survey of recent homebuyers to find the best in client satisfaction.***

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Topic:
Home Buying
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Indiana
Tags:
1st time buyers
indiana real estate
fishers indiana
carmel indiana
noblesville in real estate stacey kiernan david kiernan hamilton county indiana
westfield real estate for sale

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Acad Robert

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Feb 27, 2019 01:57 AM #1
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Rainmaker
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Stacey Kiernan

Search Carmel IN & Hamilton CO IN Homes For Sale
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