Choosing to buy a home is an important decision. It is a process that requires both planning and the help of a seasoned real estate broker. Here is an overview of what you can expect.
Get your finances in order
Speak with a loan officer to determine a price range (equal to the down payment and loan value) with which you are comfortable. The price range is important because it helps narrow down your search. Being pre-approved is important because it legitimizes your offer in the eyes of the seller. The lender will ask about your finances and eventually need recent paystubs, tax returns and several months of bank statements.
Visualize your dream home
Once you have established a price range, consider what neighborhoods you would like to explore. Think about things like access to schools, recreational facilities, commute times and proximity to services. Why you are choosing to buy should help answer these questions for you. You may want to create a needs vs. wants list.
Meet with a real estate broker
At L. Dankers Real Estate Group we can help you find your dream home that meets both your needs and your budget. We will review listings together and then tour the properties that interest you. When you are ready to make an offer we will draft a contract and present your offer to the seller. Here is where our years of experience can give you the edge over other buyers. Our negotiating skills will bring results and help you secure your new home! Once the seller accepts your offer there will typically be a home inspection to make sure your choice doesn’t have any unexpected structural issues. We will be there right by your side as the inspector goes through the house. Once you are satisfied with the inspection it is time to move forward to closing. We will send the contract to your lender, open escrow and review title. Then the part of the job you don’t see. One of the most important services your broker provides is to monitor the transaction, continually communicate with all the participants and guide your purchase to a successful closing.
An escrow agent will work with your broker and lender to bring your transaction to a close. They are a neutral third party who handles documents and funds for both the buyer and seller. Once you have final loan approval, your lender will send their documents to the escrow company. At this point you will make an appointment to sign your documents and deposit your funds with escrow. After signing, the lender will give your document package a last review and clear it to record with the county. Meanwhile, your broker will make sure all transaction details have been resolved. Once the transaction has recorded and closed, your broker will hand you the keys to your new home! Congratulations, you are a homeowner!