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Process of buying a house

Buying a house is probably the most important investment a person could do in their lives. Most buyers experience a lot of stress or anxiety trying to purchase their first home. This is something that is natural because buying a house is a highly emotional decision. If buyers have information about the process of buying a house, most likely it will help them lower such a stress and allow them to choose the best possible house for their needs.

Here there are some tips that will hopefully help you as a first time buyer in this process.

The first thing you should start with is qualifying with a mortgage company or a bank. This means to get to know how much money a financial institution will be willing to lend to you according to your economic situation. In this process I will be very glad to assist you.

Once you’ve been prequalified or approved by a financial institution you will be able to shop for a house that will meet your needs. I will be glad to show you every house in the market within the price range that you are qualified for, regardless of the real estate company that has the house for sale. This is so because I am a member of the multi-list system and have access to all the properties that are for sale in the market. There are different types of houses such as row houses, semi-detached, single family homes, small and large. You can choose whatever you like the most. I will provide you with information regarding the type of house you are interested in.

The next stage after visiting different houses is to choose one that you feel will accommodate your needs best. I as a real estate agent will legally represent you and your interests and will be happy to give you more information on the house that you are interested in buying. In this stage an offer in writing needs to be presented to the seller’s or seller’s agent. I will write the offer based on the price you would like to pay for it and handle the negotiations until the offer is accepted. Once the offer is accepted, it becomes a contract.

With contract in hand you will have to formally apply to a bank or financial institution to obtain a loan or a mortgage. I will personally take you to apply for a loan and help you with all the papers that need to be signed by you at the time of application. There are different types of loans for first time buyers such as FHA Government guaranteed loans, VA Loans or Veterans Loans, and conventional loans.

For first time buyers there are special loans from state, county, and municipality that will help with the closing costs.

During the application process and directly after your offer was accepted by the seller you must hire a home inspector to do a thorough home inspection of your house. This is important because home inspectors are specialized in detecting problems in the heating and electrical systems as well as determining the condition of the roof among other things. I will help you understand the home inspectors report about the condition of the house and negotiate with the seller possible repairs arising from such report.

The sales agreement also called contract, once signed by sellers and buyers, will be submitted to a real estate attorney who will do all the necessary things to produce a free and clear title of the property.

The process of buying a house concludes at the real estate lawyers’ office. At that office buyers and sellers sign all the documents necessary to transfer the ownership of the property. At that time the property becomes YOURS. Congratulations you are now a homeowner. I will help you to get to this stage.

If you have more questions,
please call me at 302-7536221
or email it to me at [email protected]