Buying a home can be a scary process for a lot of people. It really does not have to be. There are simple steps to take, which are made easier with the help of a REALTOR. The first step that a
Learning the in's and out's of home buying
Buying a home can be a scary process for a lot of people. It really does not have to be. There are simple steps to take, which are made easier with the help of a REALTOR.
The first step that a home buyer needs to take is to speak to a lender and get pre approved. This way, the lender will be able to advise the buyer of what he/she will be able to afford, as to not get in over their head.
Once pre approval has been established, the next step is to find the home of your dreams. Whether one finds it online or uses a real estate agent to find the home they want, an offer is made. If the offer is accepted, the two parties are then in an accepted contract.
Next comes the inspection period. This is usually 10 days, but can be modified accordingly. The buyer will have a licensed inspector go to the home and make sure that everything is in working order. The buyer then sends any repair requests to the seller and the seller can then choose to proceed or not.
Fourth in line is the appraisal. If a home is financed, this will most likely be required by the bank and is the responsibility of the buyer. If the home appraises for the amount agreed to on the contract, the deal will move forward. If not, the seller can choose to come down to the appraisal price or not sell.
Once all of those are completed, the lender and the title company will work their magic and the seller and buyer will go to the closing table! This is definitely the best part for both parties, as the seller gets to move onto new things and the buyer just got the home of their dreams.
Darren James and Associates
brokered by eXp Realty, LLC
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