Steps To Buying A Home
1) Decide to Buy
2) Hire Your Agent
3) Secure Financing
Check their credit score, taxes, 401(k)s and other aspects of their financial situation to determine the maximum they’re comfortable affording for their monthly mortgage, utilities, maintenance, taxes and insurance.
4) Find Your Home
5) Make an Offer
To help determine an offering price, check closing costs of comparable homes on websites such as Propertyshark.com and Zillow.com.
6) Perform Due Diligence
You’ll need to have a property inspection (which we highly recommend you attend) that will expose hidden issues. This way you’ll know what you are getting into before you sign closing papers.
In order to ensure that you don’t put your closing date, or your mortgage at risk, you have a few pre-closing responsibilities that you’ll need to be mindful of these include:
• Staying in control of your credit and finances. If you are tempted to make any large purchases during this time, it’s best to talk to your lender first.
• Keeping in touch with your agent and lender, returning all phone calls and completing paperwork promptly.
• Communicating with your agent at least once or twice a week and verifying with your lender that all mortgage funding steps are completed.
• Conducting a final walk-through of the home with your agent.
• Confirming with your agent, home insurance professional, and lender that you have the settlement statement, certified funds, and evidence of insurance lined up prior to closing.
8) Protect Your Investment
Performing routine maintenance on your home’s systems is always more affordable than having to fix big problems later. Be sure to watch for signs of leaks, damage, and wear.