8 Simple Steps to Home Buying
1. Initial Consultation
The initial consultation is the time for us to determine whether we will make a good team. It is a time for you to ask me questions and a chance for me to listen to your wishes and expectations. At this meeting I will guide you through the process so that you will know what to expect along the way. It is important to find a Realtor you trust.
2. Apply for Pre-Approval
This is the single most important step toward home ownership. You cannot look for a house without knowing your price range. A pre-approval is essential to making a strong offer. A strong, resourceful lender is key. If you do not have a lender to work with I recommend Gail Bean with First Horizon Home loans. Visit Gail's web site to find out more about Gail and your financing options.
3. Your New Home
What does your new home look like. Make a list of must haves and would be nice. How many bedrooms, bathrooms. Do you want a fireplace, garage, basement. What style of house, type of neighborhood, square footage, layout etc. Forward this list to me so I can begin personalizing your home search.
4. Your Home Search
Based upon your wish list, I will automatically e-mail you with new home listings that closely match your preferences. You are welcome to drive by those homes on your own and attend open houses. When you are ready to tour homes, I will make the necessary arrangements to make sure your time is well spent.
5. Making an Offer
Once you have found your dream home, I will research the market to find comparable properties so that you can make an informed offer. I will advise you regarding the best strategy. Together we will construct the offer. Once it is completed I will present your offer to the agent and or sellers.
6. The Inspection
As soon as your offer is accepted and if it is contingent upon an inspection, you will need to arrange for the home inspection. I will provide you with a list of names to choose from but you may use whomever you prefer. I will attend the home inspection with you.
7. Loan Processing
After you have approved the inspection your lender will order an appraisal. After the appraisal is completed, the loan documents are prepared and forwarded to escrow. Escrow is the “neutral third party” between the buyer and the seller that follows the instructions as specified in the Purchase and Sale Agreement. You will be contacted by the escrow company to schedule the signing appointment. This appointment generally occurs a few days prior to closing and takes about an hour. I will attend this appointment with you.
8. Closing
Finally the day has arrived. Closing occurs once the title has been recorded with the county. This unusually occurs mid to late afternoon. Once the title has been recorded the house in now yours.
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