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What Does A Buyer Need To Know? 9 Simple Steps

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Buying your first home is a huge financial decision that you want to take your time with. This is very exciting and rewarding. The hardest part is knowing how to get started. Take the tips below into consideration as you start your process.

Save For A Down Payment

Tampa Buyer's Brokers say "Unless you are prepared for an all-cash purchase, then you need to take your time to save for a down payment as best as you can. There are many eligible home loans for those who have a down payment saved and it can be as little as 3%. It is still advised to save for a 20% downpayment."

Pick A Lender

You need to work with a lender to navigate the financial side of the home-buying process. Your lender will help you determine how much house you can afford before you go shopping for a home. Oftentimes, real estate agents have great lender contacts because they work so closely together.

Get Preapproved

Your lender will work with you to obtain the necessary information and documents to give you your preapproval letter. This letter is an important part of the process because it lets you know how much house you can afford and makes you look like a serious buyer when you can submit the letter with your offers.

Hire A Real Estate Agent

Pam Pester, CAommercial Real Estate Agent says, "If you used an agent to help you select a lender then you may already have an agent. This is the moment when you need to officially hire the agent that will represent you in this process. Your agent will navigate you through the rest of the process and help to negotiate on your behalf."

Look for a House

At this point, you have finally reached the moment where the fun begins. This is when you make your wish list of desires and dreams for a house. It is important to keep your negotiable and nonnegotiable items in mind and communicate these with your agent. You must stay within budget.

Make An Offer

When you find a home you would like to buy, then your agent will help you decide what you feel comfortable offering and submit the offer for you, This is where you want to listen to their expertise and knowledge. If your offer is accepted or the seller counters and you accept, then the escrow process begins and you are on your way to buying a home. This is exciting, however, there are still several parts of the process to get through before the home is yours.

Home Inspection & Appraisal

As the buyer, you will initiate a thorough home inspection by a certified home inspector so you can understand the structural integrity of the home and any potential problems. Your lender will have an appraisal done, which will determine the value of the home.

Homeowners & Title Insurance

Using a lender will require you to buy homeowners insurance and title insurance. Homeowners insurance will help cover the cost of repairs from any kind of disaster and title insurance will protect your home against claims of ownership questions are to arise.

Sign & Close

At the time of closing you will sog a lot of documentation and you are responsible for what you are signing. You can always ask your agent for clarification and explanation. Once everything is signed and recorded then you will close on the house and get the keys to your first home!

In Conclusion

If you are ready to get started or in search of more information on the home-buying process, contact a local real estate agent that not only is experienced but knows the local market in which you're buying. 

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Personal SEO Tim and Tammy Emineth

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Tim and Tammy Emineth have owned Personal SEO since 2004. We focus on SEO first whether it's blogging, images, website design, IDX solutions and calls to action. We operate with a Storybrand philosophy to encourage more traffic to your site, more eyes on your content and more leads to your business. Call us or email us for a free website audit.

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Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Tammy and thank you for the great information to share with us here in your blog.  Make it a great day!


Mar 28, 2023 07:51 AM
Michael Jacobs
Pasadena, CA
Pasadena And Southern California 818.516.4393

Hello Tammy - once understanding the basics is achieved, the next steps become more logical.  Hopefully.  

Mar 28, 2023 08:32 AM
Lise Howe
Keller Williams Capital Properties - Washington, DC
Assoc. Broker in DC, MD, VA and attorney in DC

what a great list of steps for a buyer!  You have done wonderful work here! 

Mar 28, 2023 09:49 AM
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Tammy Emineth as a Loan Originator it is good to see your first to suggestions.

Mar 28, 2023 02:44 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

Great information, thanks for sharing.  I hope you have a great day.

Mar 29, 2023 02:45 AM