THE HOME BUYING EXPERIENCE
Buying a home is one of the biggest investments and financial decisions you can make. While it is a major commitment and responsibility, it is also a very exciting time in your life. We are proud that we will get to play a part in it, and we’re excited about soon having the privilege of handing you the keys to your new home!
Home Buying Guide: With that said, it’s important to keep in mind that home buying is a complicated process. We will be working hard to make sure that everything is as rewarding as possible, guiding you at every step and making sure that your needs and desires are met.
This guide was designed to inform you about all steps of the home buying process so that you can feel confident, make informed decisions, and act as an educated buyer. It will also help us, and you, understand the things that you’re looking for in a home so that our search can be made as easy as possible.
Please take some time to review carefully all of the information presented here. If you have any questions about the topics discussed, we will be glad to go over them with you in detail. Since every real estate transaction is unique, you will most likely have questions or concerns not presented here. That’s what we’re here for – to assist you at each step, to answer your questions, and to help you find the home you desire!
“When making one of the largest investments of your life, due diligence is vital. Choosing the right person to represent your interests and guide you is the most important step in the process.” Justin Levitch – President of RLAH Real Estate
By asking the right questions, you can make sure your home search is started on the right foot. Here is a good checklist:
- Interview several lenders and get their opinions
- Choose a lender you trust
- Analyze your credit report
- Provide your financial statements to the lender
- Obtain a pre-approval letter
It may be the most fun part of the entire process, but you still need to make sure you are diligent and thoughtful. Here is our recommended path:
- Make sure you sign agency documents and that they are explained carefully
- Determine your home criteria, and don’t get persuaded away from them
- Search both online and in person
- Make sure you have an up-to-date market analysis
Once you have decided on your potential home, this is where your REALTOR earns their medal. Here are some of your responsibilities:
- Make sure you feel comfortable with the offered price
- Consider writing a letter to the seller – it can often be a differentiator in competitive markets
- Read your seller disclosures carefully
- Read and review your good faith estimate
- Ratify your contract
Ratification and the process that follows can sometimes be stressful. Try not to let it get to you. That why we’re here! However, knowing what’s coming can be helpful. Steps along the way include:
- Home inspection
- Lender underwriting process
- Home appraisal
Finally! The big day is here. It’s time to close. Here is what’s involved:
- Choosing homeowner’s insurance
- Choosing moving insurance
- The HUD-1
- The deed of trust
- Signing the papers
- GETTING YOUR KEYS!