The Home Buying Process
Step 1: Start Searching Online
Get familiar with what homes cost in the area you are interested in. Use the best websites such as Realtor.com or Trulia to get started. By getting to know the homes that are available, you will be better positioned to make a sound financial decision on which home to purchase.
Step 2: Get a Referral to a Qualified Mortgage Consultant
Before you start looking for a home, you will need to know how much you can afford. You will need to have a mortgage consultant pre-qualify you for a mortgage. To do this, you have to provide some financial information to your lender, such as your income, assets and debt that you may have. Your mortgage consultant will review this information and give you an idea as to how much of a loan you may qualify for.
If you would like to get pre-qualified for a loan, please contact us for a list of our preferred mortgage lending officers in the Dutchess County area.
Step 3: Find a Real Estate Agent
I can help you by providing information about Dutchess County’s towns, schools, places of worship, recreation, cultural attractions, transportation etc. Real estate agents are important partners when you’re buying a home. My knowledge of the home buying process, negotiating skills, and familiarity with the area you may want to live in can be extremely valuable. And best of all, it doesn’t cost you anything to use a buyers agent.
If you are interested in buying a home in Dutchess County, please feel free to contact me.
Step 4: Find a Home / Make an Offer
You have given your real estate agent your wish list for your new home and your mortgage pre-approval letter. You are all set to begin your home search. Take as much time as you need to find the right home. Once you find that home, work with your real estate agent to negotiate a fair deal based on the value of other comparable homes in the area. Once you and the seller have reached an agreement on a price, you go to the next step which is the Inspection.
Step 6: Get a Home Inspection
Purchase offers are usually contingent on a home inspection of the property to check for signs of structural damage, water quality or things that may need to be repaired. I can help you arrange for a home inspection and provide you with a few names of qualified homes inspectors in the Dutchess County area. The inspection is usually conducted within a few days of your offer being accepted by the seller.
Remember a purchase offer is not a contract and is non-binding. If the home inspection reveals structural problems or defects that the home may have, you simply withdraw your purchase offer or renegotiate a lower price. If the inspection is satisfactory, you move on to the next step which is getting the loan.
Step 7: Bank Loan & Appraisal
You will now formally apply to the bank for a loan and will have to provide much more detailed financial information. In addition, your lender and loan officer will arrange for an appraiser to provide an independent estimate of the value of the house you are buying The appraisal will determine if you are paying a fair price for the home in comparison to like homes in the area.
Step 8: Clear Title /Close the Sale
A title company will make sure that the seller is the rightful owner of the house you are buying and that there are no liens against the property.
The day of the closing your real estate agent will meet you at the house to do a final “walk through”. The purpose of the walk through is to make sure no damage or changes have been done to the house since your inspection. At the closing, you will sign a lot of the paperwork and your done. You are ready to move into your new home!
Obviously all the work and steps that go into buying a home can be quite stressful, but it doesn’t have to be. Choosing the right agent can make the difference between an exciting experience and a nightmare.
Step 8: Call Me
Let me help you find your dream home. “I help people buy and sell real estate” You get my experience and knowledge of Dutchess County and you get incredible and unmatched customer service.
I look forward to hearing from you!