What to Expect When You’re Purchasing a Home

1. Get Pre-Qualified

Get pre-qualified with a reputable mortgage lender. Don’t know one? Please ask, and I can get you in touch with a local lender. Pre-qualification is buying power! 

2. Wants/Needs List

Complete a wants/needs list before starting the home search process. Wants are items you want to have but can live without, but on the other hand, needs are items you and your family can’t live without. We can talk through this together to truly understand what is important to you!

3. Allow “Wants” to Be Great Buying Features

Looking at houses is an exciting time. Remember that paint can be changed and fences can be built. Look for items listed on your “needs” list and allow the “wants” to be great buying features.

4. Write an Offer with Your Realtor

Have your mortgage lender write a pre-qualification letter specific to the home in which you are making an offer. Be prepared to have your earnest money ready.

5. Offer Accepted

Once your offer is accepted, you will then have to give your earnest money check to the specific attorney’s office stated on the contract. Next, your Realtor will guide you in the next steps following the contract terms. These are the due diligence tasks that I recommend to my clients: 

• Hire the closing attorney
• Get the home inspected (Home Inspection and Termite Inspection better known as a CL-100)
• Get a homeowner’s insurance quote (I always recommend my clients to get at least 3 quotes from different insurance companies)
• Appraisal (The bank will order this, so you don’t have to worry about that)
• Negotiate repairs with the seller
• Loan commitment
• Other appropriate inspections (If need be such as a Roof Inspection, HVAC Inspection and Septic Tank Inspection)
• Schedule the closing
• Order a survey

6. Utilities

When the due diligence period has expired, schedule your utilities to be turned on the day of closing, change your address and other necessary items to help make your move is as seamless as possible!

7. Closing

The final closing statement (HUD) will have a lot of figures that are involved in the purchase of the home. The closing attorney or your lender will be able to walk you through all the numbers prior to closing. Bring your state issued photo ID and be prepared for a 1-2 hour closing at your selected attorney’s office. After the closing, the attorney will record your deed at the courthouse, and you are officially the new homeowner!