The Home Buying Process

So here you are, realizing that home ownership is the path you’re ready to take. You’re tired of throwing away money on rent and figure it’s time to take that step toward home-ownership, good for you. Perhaps the thought of the home buying process seems overwhelming to you or you simply have a lot of unanswered questions. Well, you’ve come to the right spot. So let’s get started on the home buying process!

  • Before buying a home, get your finances in line. Speak with a qualified mortgage specialist or loan officer on what home loan program suits your needs best and how much payment you will be required to have set aside. From FHA loans to Conventional loans they all offer very unique advantages and dis-advantages so speak to a loan officer first.
  • Pick a Realtor to help you buy a home. In today’s world we have so many tools at our disposal that you may wonder why you need an agent at all. In the end a good Realtor can and will save you not only time by searching on your behalf, weeding out properties that don’t fit, previewing homes on your behalf but also provide you useful and powerful negotiating advantages based on experience and market knowledge. Many buyers simply feel they should just use the listing agent of the properties so they save the commission. First, as a buyer you don’t pay commission and if you simply call every listing agent you will NOT save the commissions, the listing agent simply gets both sides of it so there are no savings on the final home price.
  • Discuss your home / property search criteria with your Realtor and begin the search. Make sure you are looking on the web as most properties never hit the newspapers anymore. Your Realtor will be searching the MLS for your home and networking with other Realtors.
  • Look at homes / properties for sale that appear to fit your needs. Have your Realtor set up showings and get out and look, take mental and written notes. Some buyers like to take a digital camera along to help your memory later.
  • Make an offer and negotiate like a pro. The Devil is in the details. The offer contains more than price so keep that in mind. Many sellers will consider a lower sale price if they get other considerations that help them such as close dates, contingencies and so on so have your Realtor ask the listing agent ahead of time if there are any items your seller is looking for in an offer.
  • Get a home inspection. Unless you’re buying land or a property you’re tearing down a home inspection is always a good idea.
  • Assuming your home inspection went ok you’re set to close. Make sure you select a good, reputable title and closing company. Your agent should have someone to recommend for this.

Don’t forget to check out our “10 Things You Need To Know Before Buying” Page.

If you have any further questions about the home buying process, mortgages, title or want to start your home search feel free to call us direct at 612-282-7653 or use the form below. Thanks for stopping by and we look forward to the opportunity to help you.

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