Buying a home for the first time can seem like an overwhelming task. Youíre making the biggest financial decision of your life, and there is so much to consider. It helps a lot to understand the process from beginning to end. In this article, Iíll walk you through the entire process of buying a house in so that your entire home buying experience will go more smoothly.
Step #1 ñ Getting Your Mortgage Pre-Approved
As we both know, lenders arenít nearly as lenient as they used to be. Itís important to find both a good lender and a good loan officer to handle your loan, preferably before you even go out to see properties.
The loan officer will usually want to know what your assets are, what your credit score is and your debt to income ratio.
Step #2 ñ Finding a Home You Like
The next step in the process is to find a home in that appeals to you. Make sure you see a good number of houses before you make your decision, so that you know what the options are.
Step #3 ñ The Offer and Negotiation Process
Crafting a good offer is vitally important. Itís important to work with a real estate agent who understands how to choose contingencies, clauses, the right amount to offer and good negotiation strategies.
Once youíve made your offer, the seller will usually make a counter offer. Itís rare that the seller will accept your offer up front. Once you both come to an agreement on the price and terms, the contract becomes binding.
Step #4 ñ Completing the Home Purchase
Once the contract has been agreed on, then you must complete the home inspection and the seller will make any necessary repairs.
Then your loan will be finalized with your loan officer. Finally, closing or escrow is where all the documents are signed, the deed and title are signed over, the seller is paid and the keys are handed over.
In brief, that is what the home buying process looks like in . There is a lot of free information available to you about buying real estate in . For complete information about the real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything real estate, at www.pauldingandpolk.com. Please feel free to contact me with any of your real estate or mortgage related questions and I will be more than glad to answer your questions. Call me on my cell at 404 374 1620 or email me at email@example.com
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