02/02/2023
🏘🏡HOME BUYING PROCESS🏡🏘
🎯GET PREQUALIFIED: Our lender will look at your income, credit scores, revolving debts, obligations such as child support as well as the type of loan you choose. Other factors that impact how much home you can buy is the down payment; smaller down payments mean higher monthly payments. Last, the interest rate and terms (30-year, fixed or adjustable rate) will determine what you can afford in monthly payments.
🎯MAKE YOUR WISH LIST: Decide where you want to live and how many bedrooms and baths you’ll need. Consider lifestyle - condominiums offer shared amenities, with little responsibility. Work with your real estate agent to identify properties that fit your criteria and schedule viewings.
🎯HIRE A REAL ESTATE PROFESSIONAL: An experienced agent will help you go through all the paperwork and give you the best advice.
🎯SELECT YOUR HOME: No home is perfect, so don’t let minor flaws influence you. Think long-term. Which home best suits the activities and needs of your household now and in the years ahead? Don’t buy more than you need or can comfortably afford.
🎯MAKE YOUR OFFER: Once you've found a home you'd like to purchase, you'll need to make an offer. Your real estate agent can help you determine a fair price and negotiate with the seller on your behalf.
🎯GET AN INSPECTION: A home inspection is a professional third-party opinion of the home’s condition. The inspector will point out the age of systems, and large and small repairs that are needed, so you’ll know what you’re facing as the next owner.
🎯GET AN APPRAISAL: The bank appraisal determines market value. If the home doesn’t appraise for the purchase price, the bank will refuse to make the loan unless you renegotiate with the seller. If it appraises, the lender will move toward closing.
🎯FINAL WALK THROUGH: Before closing, the buyer will take a look at the property againt to make sure the condition stays the same. Or all the repair requirements are finished.
🎯GO TO CLOSING: Once final negotiations are complete, the parties to the transaction meet at the escrow office. This could be a title company, real estate attorney, or whatever is customary in your area.
🎉🎉🎉MOVE IN: After the closing, you'll officially become the owner of the home and can move in and start making it your own.
🥳CONGRATULATIONS!🥳
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Mimi Le
[email protected]
