Home Buying in Six Steps

01. Get Ready for Home Ownership.

Build a good credit history.
Get mortgage pre-approval.
Find out what type of mortgages you quality for.
Consider hiring an attorney to review all contracts and agreements associated with the home buying process. I can give you several great referrals.
Save up for a down payment (typically 10-20% of property’s value; if FHA-qualified, then possibly less).
Consider closing costs which can include taxes, attorney’s fees, and transfer fees.
Consider utilities and monthly bills, such as homeowner’s assessments.

02. Find a Real Estate Professional.

I am here to help you with all of your real estate needs. I can help you with buyer representation contracts and agreements, making sure you understand and feel comfortable with the terms. I look forward to hearing about your needs and expectations.

03. Find the Right Property

Determine what is important to you, such as particular schools, neighborhood amenities, monthly mortgage payment, public transportation, walkability, etc.
Make sure you include home owner’s assessments, utilities, and taxes when calculating the monthly mortgage payment.
Keep your credit score stable by waiting to purchase any big-ticket items until long after the closing.

04. Finance the Property.

Contact your mortgage broker or lender. I can provide excellent referrals.
The lender or attorney will run a title search to ensure there are no clouds on the title. I can help with referrals here as well.
Make sure you understand the financing terms ask the lender for clarification, if needed.

05. Make an Offer.

Ensure the property is inspected by a licensed home inspector.
Read all contracts before signing—make sure you understand all of the terms, ask questions.
Place a competitive bid and be prepared to make a counter-offer.
Only one offer will result in a sale, so be prepared to move on if your offer is not accepted.

06. Closing and Life After.

Protect your new asset by obtaining insurance such as homeowner’s, flood, disaster, and fire.
Weatherproof your new home.
Maintain files—digital or print—for all warranties, insurance documents, contracts, etc.
Keep original closing documents in a safe place, preferably outside the home (such as a safety deposit box).
Set up utilities bills in your name, maintain files.