So in this hot Seller’s Market we call spring, Buyer’s have a particular challenge finding a home. It’s not entirely their fault. HGTV has simplified the home buying process to a half hour round robin elimination. The format of looking at three homes and choosing the best one is a dream for agents and buyers alike. In the real world we are at the mercy of rules and regulations. The production value and drama hold no place in the land of real estate.
These shows often skip the most valuable information about the process. Luckily you all have me to give you the tools of success.
Step 1: Find a good Realtor®
Not only will they simplify the process for you but they are valuable resources come negotiation time and could save you from financial headache.
Step 2: Get Financed
99% of you are not paying cash for your house. There’s a mortgage lender waiting for your call. That lender will break sdown the numbers and let your realtor know how much house you can afford. Its better to only visit homes you have confidence in purchasing.
Step 3: Viewing Homes
This is the fun part. You get to Zillow and Trulia and pik out all your favorite finishes and check out the cool features in the finished basement and imagine cooking Thanksgiving dinner in your new kitchen and the kids playing in the backyard and whatever else you have dreamed of over a lifetime of realized dream.
Step 4: Making the Offer
Once you’ve found that HGTV gem dream home it’s time to make it yours. Rely on the professionals to give you a range of similar homes that have sold in the area. Make your decision based on the facts. The Realtor® you’ve hired will do their job and offer you the best advice.
Step 5: Inspection
After your offer is accepted, you need to check the house for bugs. The government is watching. I’m kidding. Your inspection is to make sure the house you’re buying is in livable condition. A good home inspector checks the house in three phases. Main Floor, Roof and Basement/Crawl space. Heed your inspection report. Its everything.
Step 6: Appraisal
This is where deals are won and lost. Your lender will send someone out to check behind your work. The appraiser has the final say in whether or not your loan will be approved at most lending companies. If the appraiser gives a value less than what you’ve offered, its back to the negotiation table. If the amount is equal to or greater than the amount you offered… Congratulations! You’ve Puchased a home and you’re on to the final step.
FInal Step: Closing!!
You’ve done it!! Now you’re dotting ‘I’s and Crossing ‘T’s at the title company. In 45 minutes you will have the keys to your brand new home. Welcome to the club.