Buying a home is a complex process and time consuming process. Here at the Brigg Backer Real Estate Group we are here to help you every step of the way. Sometimes things happen quickly and sometimes the process takes years. Whatever your situation, we are here to help. It starts with a goal. And all goals are different. We can help you clarify your goal and narrow in on the steps to get there. Whether its learning about an area or handling the complex task of buying a home while preparing your current home for sale, we can help simplify the process. We can help with the financing options and learning about what it will take to arrange for the loan on a new property. Or look into the school districts that are so important for desirable areas.
The home buying process
- Step 1: Consult with your realtor. Determine the many different criteria of a home that you will be searching for. What price range? What areas are you interested in? What style of home or condo? Two story or rambler? What school districts?
- Step 2: Arrange financing. Determine what price home you can afford. How much down payment your will need. What you are comfortable with for a monthly payment. Do you have a lender that you have talked with. Get pre-approved and a pre-approval letter.
- Step 3: Let the search begin. Set up search areas and monitor the inventory that becomes available. Go look at houses. Learn about specific areas and become an expert on value so that when you are ready to make an offer, you are very comfortable with if the home is priced correctly.
- Step 4: Making an offer. We will help you craft an offer that protects your interests as a buyer, while also making that offer attractive to a seller. Depending on market conditions, offers should be written and presented differently. In a seller's market, like we are in now in many areas, offers need to presented quickly once you find a property that you want and written with the sellers interests more in mind. In a buyer's market, the focus can be more on obtaining the property at a discount and considering the broader market conditions.
- Step 5: Inspections. After an offer is accepted, it's time to inspect the property. Almost always it is necessary to do a general home inspection and we have our preferred inspectors. It has become customary to do a radon inspection as well. Sewer line, chimney and mold tests can also make sense to make sure the property you are buying doesn't have any major flaws.
- Step 6: Escrow: As soon as an inspection clears and the time before closing is considered escrow. The main focus of a buyer at this point is to finalize the financing. The mortgage approval process has become tedious with lenders asking for a lot of documentation to submit to an underwriter who will then approve the loan. A buyer needs to give a lender everything they ask for as quickly as possible to avoid delays in closing. The regulated mortgage process has laws and timelines that must be followed exactly and make it difficult to speed the process up.
- Step 7: Prepare for closing. With the financing ready, coordinate the move-in. Get utilities put into your name, coordinate moving trucks, register for schools.
- Step 8: Final Walk Thru. Together we will walk through the property to make sure the seller has completely moved out of the house and left the house in the same condition as when we last viewed it. Also, we will inspect any repair items that were negotiated as part of the inspection process.
- Step 9: Closing. We will attend closing together. Finalize the funds needed to bring to closing and then get ready to sign a lot of paperwork. Closing should take about an hour and you will receive keys, garage door openers and any key items for the house from the sellers. Sellers may or may not attend as sometimes they choose to presign if they are unable to attend closing.
- Step 10: Post closing. Enjoy your new home. If you do discover any major concerns after closing, there are avenues to have the seller pay for repairs, if we feel that they these were issues that should have been disclosed.