Buying a home may seem a bit overwhelming to start, but as your Realtor, I am here to guide you along the way and make the process as easy and seamless a possible!
The steps below are a high-level overview of the basics. We will continue to keep you informed on what to expect as we move through the process to getting you into your NextHome!
1. Find a lender you trust and get pre-qualified for a mortgage.
Getting out and starting to look at homes is exciting, but until you know what you can (and what to) afford, we are shooting a bit blind. There are many loan programs out there from conventional loans with 20% down-payments, to 100% financing through USDA, the VA or specialty credit union loans. There are also first-time home buyer programs such as FHA as well as down-payment assistance programs. If you don’t have a local lender you know and trust, I am happy to recommend you to a lending partner that is best suited for your specific needs.
2. Determine the “must-have”, “must-not-have”, and “nice-to-have” features of your ideal home.
We will work with you to determine where you would like to live, what size home or lot you need, or what type of yard of floor plan you are looking for. We will then use that information to go to work searching for the right home for you. We will set you up with an automated search direct from our local MLS (Multiple Listing Service), giving you the most accurate and up-to-date information, as well as inside access to “coming soon” homes.
3. Find the right home for you, and make an offer.
It may be the first or second home we view, or it may be the 20th home, but we will be by your side discussing the pros and cons of each home until you find the one that is right for you. Depending on the price point, our market is one that tends to favor sellers, since home inventory is generally low. Many homes go quick and with multiple offers. Having current information, being able to move quickly, and having an experienced Realtor will be key factors in you winning a sought-after home.
4. Due Diligence Period
Once we have an executed contract, you will begin to investigate everything you can about the home to ensure it is the right home for you. During this time, we will guide you through having inspections done on the home such as a general home inspection, termite inspection, or septic inspection. You will also look into homeowner’s insurance, continue the mortgage approval process, and have an appraisal of the home done. We will be digging in, and providing as much information as we can, to help you learn more about the home. Depending on the outcome of the inspections and other investigation, we may go back to the negotiation table on your behalf to negotiate for the seller to make some repairs, provide a credit for repairs, or reduce the purchase price of the home.
5. Getting to the finish line
On average, most home sales happen within 30-45 days from the time you put in your offer, until the day you get the keys to your new home. On closing day, we will go to your attorney’s office to review and sign your loan documents and other legal papers. After you sign on the dotted line, the attorney will complete the process by verifying documents with your lender and recording the deed to your new home with the county courthouse.
If you have any questions about the housing market, the home-buying or selling process, or anything real estate related, do not hesitate to reach out!
Call or text to 919.949.8820 or email at Shannon@mykeyadvisor.com.
I can’t wait to help you get into your NextHome!