Finding the Right Home
You can sit down with a real estate agent and discuss your needs, type of area, style of home, amenities and everything you really want in your next home. Real estate agents can help you by accessing a Listing Service which covers all properties listed for sale within a specific area. Together, you can select the homes you would like to see, set appointments and preview homes in a short period of time. An agent can guide you through the entire process.
Newspaper Ads/Internet
Many people go through the real estate classified section or browse the Internet to find a home that appeals to them. However, your real estate agent will have many listings available that may not appear in the newspaper or Internet on a continuous basis. New listings come on the market daily.
Multiple Listing Service
Your real estate agent should have access to the multiple listing service if it is available in your area. It usually includes the following details about homes and properties for sale:
•Location
•Price
•Photograph
•Utilities
•Amenities
•Annual property tax
•Current financing (when assumable)
•Listing company
When Previewing A Home
•Write notes when previewing a home so you will be able to discuss the details later with your real estate agent.
•Ask questions about the home and discuss any objections or concerns you may have.
•Ask about the community - schools, shopping and transportation.
•Ask specific questions about the construction of the home; electrical, plumbing, heating, cooling systems, etc.
Have Fun
Relax. Finding your new home can be a rewarding experience. Have a good time and enjoy the process.
Step 1: What You Want
Start by creating a prioritized list of features you want in your next home and the reasons why. Use it as your search guide, but remember that depending on your current financial situation, you will probably need to make some compromises. In addition, talk to your real estate professional about where you want to live. Location is a huge part of any move. Our professionals are trained to help their clients narrow down their choices by sharing market trends and pertinent local information.
Step 2: How Much Home Can You Afford
Now that you know what you want, it's time to see what you can afford. You can start by crunching the numbers yourself using our various calculators available on our site. Your next step is to get pre-approved for a mortgage. This process can often be performed in under an hour and it accomplishes two important goals. First, it will tell you how much house you can afford and what your monthly payments would be. Second, it tells the seller that you can afford to buy their home. By definition, a pre-approved buyer has an approved mortgage subject to an appraisal of the property. Many times a buyer can use this pre-approved status as leverage during the negotiation process.
Step 3: Let The Shopping Begin
Once you know what community you'd like to live in and have an idea of how much house you can afford, its time to start your search. Beginning this search online can help save you time since it can help you target homes that meet your search criteria. Our Dream Home Finder can even email you when properties come on the market that meet your search criteria. Next, begin visiting homes in person. Ask one of our real estate professionals to arrange visits and attend open houses that are in your target area and price range. When comparing homes, make sure to look at all aspects of the property. Is the property tax approximately the same? Are both the houses renovated? Do they both have the same amount of bedrooms and bathrooms? Are both houses located on the same or similar streets? Does either house have any encumbrances? Always remember to keep an open mind when you are looking at homes. Imagine what the house could become with you as the owner.
Step 4: Offer
You’ve found the home you want; now it’s time to make an offer. Typically this is a very difficult and trying time since both parties have totally different goals. It is to your advantage to have a third party, such as one of our real estate professionals, negotiate the offer. If you have any personal interaction with the homeowner, don't give out any information about your move, your current housing status, financial status or your feelings about their property - positive or negative. This could hurt you in future negotiations.
Step 5: Inspection & Insurance
After your offer is accepted you will need to set up, coordinate and interpret various inspections, including insect, radon, building quality, title, etc. You will also need to arrange for homeowners insurance and finalize the mortgage. This is a major step in the buying process and there are many potential problems that can be discovered during this period. These include a leaky roof, radon gas, termite damage, a foundation problem, and wall cracks, to name a few. These problems happen all the time. The difference between closing on your dream home and starting the process all over again is what occurs during the negotiations between you and the seller.
Step 6: Closing
Before arriving at the closing, make sure all the necessary paper work and deposits have been completed. If the mortgage, title work, homeowners insurance and other items necessary under local and state laws are not completed and brought to the closing table, the closing may not happen on time. And, depending on what the contract says, this could result in further action including financial penalties and even the loss of your rights to the home. Once you close, it's official - you own the house! But there might be a few things you want to do before you lay out the welcome mat. These include arranging for an alarm system, turning on the electricity and gas, subscribing to cable or satellite TV, cleaning or replacing the carpet, arranging for lawn services, etc. This could also be a good time to make some needed renovations.
