9 STEPS TO BUYING A HOME
Step 1: Hiring a Realtor
It's best to hire a local & professional realtor like myself. A local realtor works for a locally owned real estate company, a professional realtor is one who works hard for you. Iron Valley Real Estate is a local company who has been serving clients since 2016.
Step 2: Getting a Mortgage
Pre-Approval
Get pre-approved from a local mortgage company. This way you will know how much you can afford to spend on your home purchase. It's best to use a local mortgage company because they know the local area and some of them have first-time home buyer programs specific to this area.
Step 3: Figuring out your
Search Criteria
Figure out what you want or need in a home. For example, what area, what style of home, how many square feet, how many bedrooms & bathrooms, if you require a basement or garage, or how much land?
I will help you work through the options to figure out what fits you best, then I will set up a search criteria where you will get an email as soon as a property come on the market.
Step 4: Home Touring
Notify me of any homes that you have interest in seeing so that I can schedule a showing appointment with the listing agents/sellers.
Step 5: Making an Offer
When making an offer there are several decisions that have to be made:
• Offer Amount
• Deposit Amount
• Inspections
• Settlement Date
Once this is decided then I will type up the necessary documents required to make your offer.
Step 6: Negotiating & Acceptance
of your Offer
Many times an offer can be countered back and forth several times. Once everything is agreed upon and signed, then at that point is when we are officially under contract.
Step 7: Going Under Contract
This is when we line up the process so that we are ready to have settlement on the chosen date. We will need to line up the following items:
• Completing the Deposit Check
• Starting the Mortgage Process
• Scheduling Inspections
• Starting the Title Search Process
• Scheduling Settlement
Step 8: Your Settlement
A few days before settlement it is important to transfer the utilities into your name, effective on the settlement date. Also the settlement company will give you the final amount owed. This amount will need to be in an official bank check made out to the settlement company. The settlement takes approximately one hour. You will need to bring the following items:
• Official Bank Check
• Photo ID
• Check Book
Step 9: Enjoy Your Home
Home ownership comes with a lot of responsibility. You have to keep the home maintained and updated, and you have to make sure to pay your mortgage payments. The best part is that you get to come home to your own home sweet home!
