Today, we’re talking about how to buy a house!
The home buying process may seem daunting, but with the right agent by your side (*ahem*), you’re bound to have a smooth process. Here’s what you need to know…
Side note: Don’t feel like reading? Watch the video above!
Want to cut to the chase, and start your home search? Start here!
Hire an Agent
This is, without a doubt, the most important step of your process. The person you choose will be by your side every step of the way. It’s important to talk to at least 2 agents – consider it an interview. Make sure your agent is knowledgeable about the area where you’re shopping for homes, and that they have resources that they can share with you. At the end of the day, it’s really important that you trust this person.
Your agent will be primarily responsible for helping you find a home. They will be the person filling out all the paper work, dealing with the title company, and negotiating with the sellers.
Bonus: When you’re a home buyer, having a real estate agent doesn’t cost you a thing! We do get paid, but our commission comes from the seller’s proceeds once you’ve purchased the house.
Find a Lender and Get Pre-Approved
Don’t know any mortgage lenders? Don’t worry! Your Realtor will have some suggestions for you! Choosing a mortgage broker is similar to choosing an agent. Pick someone who you jive with, and who you trust.
Your lender will be responsible for helping you get pre-approved for a mortgage. They’ll make sure you check all the boxes you need to check to make sure you can pay for a new house.
Search for Homes
Now the fun begins! You get to start looking for homes. Like most things these days, your search begins online (I like to compare this to dating sites like Tinder, but it always gets an eye roll). As your agent, I’ll set up a home search portal. Whenever a new home pops on the market that meets your criteria, it will be added to your portal, and you’ll receive an email notification. You can view information about and pictures of the homes in the portal, and rate each one (Love, Maybe, or Trash).
Once you’ve found one or more homes that you’re interested in, it’s time to call your agent. Your agent will set up showings for you to see the house in person. When you find the house you love, we move on to the next step.
Make an offer
Now that you’ve found the house you love, it’s time sit down with your Realtor to write an offer. The offer contract outlines the terms of the contract – most importantly, price and timeline. With your Realtor, you’ll decide the amount you want to offer, as well as the deadlines for things like turning in earnest money, completing a home inspection, and having an appraisal.
Sometimes, it can take a few tries before you get under contract. Don’t be discouraged! We will find the house that is right for you!
Get an Inspection
As a buyer, you will be responsible for hiring an inspector to examine the home. This is your big chance to have a professional take a deeper look, and to learn more about the condition of the house. After your inspection, you will have a chance to ask the seller to address any issues that the inspector may have found.
If you are getting a loan, your lender will order an appraisal to verify the value of the home. There’s not much you need to do with this one. Appraisers visit the home to analyse the condition, and then compare it to other homes in the area that have recently sold.
Congratulations! You made it to the closing table! The title company will handle the closing and transfer the property from the seller to you! This is when you will bring the funds for your down payment and closing costs.
You are now a home owner! And now, you know how to buy a house.
If you have questions about how to buy a house, please drop them in the comments, or email me!