Purchasing a home can be a very exciting time, but it’s important to be well-prepared for what’s ahead. During the buying process you will most likely be dealing with various professionals, including your REALTOR®. Here is what you can expect during the process.
Qualifying
In order to narrow down your search criteria, it is important to find out how much of a mortgage you qualify for before you start looking. This will allow you to figure out your budget for what you can realistically afford. The amount of your down payment, where that money is coming from, are all questions your mortgage professional will ask you. Your REALTOR® should be able to help you find a qualified mortgage associate to help with your financing concerns.
Searching
When searching for a home, it is important to consider your budget, as well as what your needs are. Your REALTOR® has access to the most recent MLS® listing information, and can help you narrow down your search. For a checklist of home features, click here http://www.creb.com/public/buyer-resources/home-checklist.php
Selecting
This is perhaps the most exciting part of the entire process—choosing the home that’s right for you. A REALTOR® can aid in answering key questions about the property: will the home fit the needs of you and/or your family? Will the home be a good investment?
Negotiating
This can sometimes be an overwhelming step in the process. Your REALTOR® will go to bat for you and negotiate the terms that work for you. Once you come to an agreement on price, a legal contract is drawn up.
Inspection
It is important and highly recommended that you get a home inspection before closing the deal. It will provide you with piece of mind before moving into a new home. Your REALTOR® will likely be able to recommend an inspection company they trust.
Closing
Your team of your lawyer and REALTOR®, will ensure that everything is good to go for the closing part of the process. Your REALTOR® will hand you the keys on possession day—welcome home!
