1. Determine Your Budget
The first step is to establish how much you can afford. This will save you time and money. Once a budget has been established 180 Realty can establish a search that meets your criteria.
2. Pre-Approval Process
Getting pre-appoved is the next step when becoming a serious home buyer. Most sellers take a buyer with a pre-appoval letter much more serious than one with out one. Ask 180 Realty what lenders they recommend if you have not yet chosen one.
3. Wish List
Keeping your budget in mind, create a wish list. Start with the area you wish to live in, whether you would like to live in a newer or older home, then decide what features you really need. Create your list in order of importance.
4. Home Shopping
Now for the fun part! Once you created your wish list, 180 Realty will create your account so that you will receive everything that is currently on the market fitting your criteria and also anything that becomes available from that point forward. Once you see homes you are anxious to preview, contact 180 Realty immediately so that you don’t miss out on a home that might match everything on your wish list!
5. Making An Offer
Once you have found that perfect home, it’s time to make an offer! An offer is a legally binding written document. A seller has the right to accept, counter or reject the offer. 180 Realty will assist you with writing the offer including the basic terms, purchase price and method of payment. The offer will also include the time frame and inspections. We will also help with the negotiations to benefit you and your needs.
6. Home Inspections
The home inspection can be one of the most important facets of closing on a home. Anticipating a clean bill of health during the inspection can be the most nerve-wracking part of the process for both the buyer and the seller. Fortunately, your REALTOR knows what to do, which helps keep stress levels down during this time. Most purchase agreements hinge on the final inspection.
A typical home inspection covers the home’s heating and central air system; interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components.
Ask 180 Realty for a list of trusted home inspector near you.
This is the paperwork, money and keys process. You will need all the paperwork you have accumulated on the house for closing such as the inspector’s report, termite inspection report, good-faith estimate. 180 Realty will perform a walk-thru before the time of closing.
People who may attend closing:
- Attorney/closing agent
- Buyer and Seller
- Realtors from both sides
- A Representative of the lender
Documents you will need to bring:
- Certified Funds
- Copy of any reports
- Homeowners Insurance Coverage
Congratulations, you’re a new homeowner!
8. Homeowner’s and Title Insurance
At closing, you will need to provide proof of at least minimum coverage for the house.
Title insurance covers issues such as unpaid property taxes, liens and other issues from previous owners.