Buying a home is one of the biggest financial investments you may ever make. While it is a major commitment and responsibility, it can also be a thrilling experience and a very exciting time in your life. With that said, we would like to congratulate you on your decision to buy a new home! It is always a privilege to hand the homebuyers the keys to their home and to be there for the first moment of celebrating ownership!
As your Buyer's Agent we at Sonja Stoskopf & Associates will....
The home buying checklist:
1. Obtain Pre-Approval from Lender
Once you narrow down which type of lender can best meet your needs, the next important step is to get pre-approved for a loan. If you have been pre-approved for a loan, you can shop for a house with more certainty and less anxiety because you'll be able to sail through the entire process without having to worry about whether the mortgage will be approved.
2. Find the Right House
If you take some time now to determine your needs ahead of time, you'll be better equipped to make a well informed decision when you have an emotional response to a house that you see.
3. Make an Offer
It is important to be aware of the possible scenarios that can arise while negotiating with a Seller. The Seller can accept your offer, reject your offer, or respond with a counter offer. Don't be surprised if you and the Seller do not see eye-to-eye on every issue. It is not uncommon for negotiations to go back and forth several times before both parties agree to the terms.
4. Conduct Inspections
We encourage you to conduct all inspections needed to satisfy you about the condition of the property you plan to purchase. Always hire the most qualified person you can find. After the inspections are done you will need to put together a list of items found by the inspector that you would like to ask the Seller to re-negoitate on.
5. Obtain Homeowner's Insurance
Contact an insurance carrier for your new home coverage as soon as you schedule your inspections.
6. Title Search - done by the title company
The title company will conduct a title search. The purpose of the search is to discover any problems that might prevent you from getting clear title to the home.
7. Appraisal - done by lender
Once it is determined that there are no defects on the title and all inspections concerns have been resolved, your lender will order an appraisal. Many lenders will require that you pay for the appraisal at the time it is ordered.
8. Arrangements for Moving
Contact moving companies to get estimates or reserve a rental truck.
One week before possession, transfer utilities to your name.
Closing is a legal transfer of ownership of the home from Seller to Buyer. It is a meeting, usually at a title company with a title company closer, you, and possibly your lender. The closer will coordinate the signing of documents and the collection and/or disbursement of funds.
11. Move In!!!
I hope that you have found this information to be very helpful. If you have questions and/or are ready to buy a home give us a call!!!!