Buying a home can seem like a daunting task, especially if you are a First-time Buyer. It’s exciting, and scary, and there is a lot of hopefulness, and a lot of insecurity, and some disappointment, and a whole lot of pride and happiness. Getting started is the hardest part. A journey of a thousand miles begins with a single step; so let’s get started.
The very first step in buying a home is to get your financing in place and have your Proof of Funds. Are you paying cash? Then your Proof of Funds would be a letter from your bank certifying that you do indeed have the funds available in your account. Do you need a mortgage? Then you will need your pre-approval letter stating they type of mortgage program you are obtaining (conventional, FHA, VA, USDA, etc.) and the amount you are approved for. I can refer you to several outstanding and local lenders if you haven’t already obtained your financing.
First-time Buyers, and even old-hand buyers, need to know the process. I provide consultation with you to explain the process, review with you your wish lists and need lists, and start with the home searches and showings.
Every state has their own real estate contracts. The contracts stipulate the terms of the purchase and the responsibilities of each party in the transaction. You need to know what the contract says and what you need to do and when it needs to be done. I review with you the contract and explain what it means to you. I also keep you on time with your responsibilities. Further, I coordinate with your financing to keep communication open between all parties and all of us on schedule.
There are a number of things that need to be negotiated when you are purchasing a home. Is the asking price too high? Is the market moving quickly and the asking price too low? How do you negotiate your offered terms for closing date, earnest money, due diligence period, and inspections to make your offer attractive to the seller? As your realtor, I will help you understand the market, investigate the pricing, and communicate with the listing agent.
When your offer is accepted, you may wish to have the home inspected prior to completing the purchase. And you should. But what inspections should you have? Who do you call to do those inspections? I will help you with those questions. I also have a number of reputable inspectors I can refer to you to provide a thorough and comprehensive inspection. I also will attend the inspections to hear the inspectors findings and explanations first hand and to make sure you are comfortable with them.
You will need to arrange for homeowner’s insurance prior to closing. I have several insurance providers I can refer to you to make sure the insurance declaration page is provided to the lender in a timely manner. I will also provide to your chose insurance provider the details about the home you are purchasing.
Finally, you will be closing on your new home! The title company, or here in Georgia, the closing attorney, will provide for you closing documents with lots of numbers. I will step you through those numbers so that you understand the disbursement of your mortgage, escrow, and money due to close. I will also let you know what to expect and attend closing with you should there be any questions that come up during the transaction.
Please contact me for more information or any questions you may have. And contact me to schedule you Buyer Consultation today.