Would like to have the home buying process simplified for you?
Buying a home can be a complicated process. That’s why it’s important to understand the steps and people involved who can help you and simplify the process.
After you get pre-approved, search for homes, and narrow your list down to your top choice, it’s time to get even more serious. You are undertaking a major life decision. Understanding these steps and working closely with your Realtor can make the process go more smoothly through to closing on your new home.
Here are the next steps in home buying simplified
1. Arrive at your best price and terms and make an offer:
Offering an appropriate price and terms of an offer is extremely important. After you decide on a home, you want to make an offer that will get you in the home you want and at the best price and terms. Many complex factors are involved in determining the value of real estate. The amount of your offer will depend on several things like the list price, conditions in the local market, any contingencies, and if you are asking the seller to make any contributions to your closing costs, or other conditions.
Don’t rely on “best guesses” or automated systems and websites to give you a reliable price. And be wary of list prices that may be set too high. A Certified Pricing Strategy Advisor through the National Association of Realtors, is well- prepared to provide you with insight and expertise to determine the right price to offer on your future home.
2. Let your Realtor help you through important negotiations:
Expertise in negotiations is important. Even the smoothest of transactions will require some element of negotiation skill. This can occur early on when coming to agreement on the offer. Expect that there may be more than one counter offer and follow up offer before you have a solid contract. Besides the importance of the property price and costs of financing, there also are numerous buyer and seller concessions and contingencies. These can make a major impact on whether or not a property is acceptable to you or an offer is acceptable to a seller. But you don’t need to worry–your Realtor will be there to help you through the important negotiations from the beginning.
Negotiation is also important when there are inspection or appraisal issues. Additionally, negotiation may be needed if for some reason the contract needs to be extended or modified. Often you as the buyer as well as the seller have an emotional involvement. This makes it hard for you to negotiate for yourself to get the best outcome. Your agent can advise you on important strategies and help in the negotiation process. This will help simplify the process for you and make the process less stressful.
3. Work with your Realtor and your lender as a team to get you to closing:
Your Realtor and lender will work with you to get everything coordinated to closing. This includes getting all the required paperwork for your loan. Also, there are many other important milestones like the home inspection, the appraisal, the wood infestation(termite)/pest inspection, and removal of any contingencies of other terms of the contract. Many of these items are also required by your lender.
Your Realtor will ensure you obtain the property inspection and any followup within the contractual timelines. Your agent will work with the seller/seller’s agent to follow up on agreed-on repair work, and handle paperwork related to the sale. Together with your lender, your Realtor will coordinate with others, including the closing attorney. Working together and communicating is important to meet all deadlines. The goal is to keep the closing on track with the contract dates so you can move into your new home on time.
Home Buying Simplified
As you can imagine, there are many details involved in the home buying process. It is not a simple process. It is also an emotional process. There is a lot going on in your life when you are in the home buying process. But you are not alone. Your Realtor is there to help you through the details so that you don’t feel overwhelmed. The important thing for every buyer to know is that every transaction is different and almost all come with a few “surprises”. A good agent will be available for you and will work with you and with all other parties cooperatively to make the process go as smoothly as possible. Your Realtor can guide you through the process so that once you are in your new home you feel great about the home buying experience.