The home buying process is exhausting. You must decide exactly what you’re looking for, find a real estate agent, get inspections and a home warranty, make an offer, and close the deal. Let this be your guide to home buying from start to finish.
Establish What You’re Looking For
Ask yourself questions like: What is my budget? What am I willing to pay for things like utilities? How long will I be living in the home? What kind of neighborhood do I want? What style of home? How many bedrooms and bathrooms?
Going to open houses in the area may give you a better idea of what you’re looking for. Design and layout are crucial elements to factor in. Create a list of the things you saw that you liked and a list of the things you didn’t like and use it to shop.
Finding the Right Real Estate Agent
It’s pivotal to have the right real estate agent. Do online research to find agents in your area. You can check out ratings for agents in the Mukilteo, Everett and Edmonds areas to give you an idea of what each one’s style is like and compare it to what you’re looking for.
Several tips for finding the right real estate agent are:
● Use trusted resources — In addition to online resources, talk to neighbors about agents they’ve worked with or know.
● Learn about their customer service — Do they answer phone calls? Do they make you feel like you’re a priority?
● Interview at least three real estate agents — Even if you find someone you’re excited about, still interview at least two more agents. You never know if you might find someone better!
When you’ve found a home you like, it’s time for inspection. Before hiring, Opendoor suggests asking for a sample report to see what the inspector will look for. If a report is confusing, mention any specific concerns that you want addressed.
Based on the completed report, you should consider getting a home warranty. This will protect items like electrical work, heating, and kitchen equipment like ovens or cooktops. Home warranty coverage minimizes the cost of fixing or replacing these items, and it allows you to fix items throughout the home’s life as they come along. A home warranty is easily worth every penny. It offers protection and resolutions for any home issues that may arise, saving you money in the long run.
Making an offer
It’s time to make an offer. Your first step is getting pre-approved by a lender. This will show sellers that you’re serious about buying while verifying your price range so you know what you can afford. If you need down payment assistance, Better Homes & Properties provides options that might be right for you.
Make a respectable offer once you’ve got the support of a lender. Don’t lowball the seller, but keep your budget in mind; you don’t have to offer the maximum amount of your mortgage. Negotiate and keep contingencies to a minimum. Finally, use your own real estate agent to handle your offer so that your needs are completely met.
The closing process will most likely be held at the title company’s or lender’s office. You’ll need all paperwork you’ve acquired in your homebuying process, the payments you will make, and two forms of ID. You’ll sign even more loan documents, potentially including a deed of trust and closing disclosure.
Send your closing costs via wire transfer or through a certified or cashier’s check. If all goes according to plan, your lender will transfer your home loan funds to the closing real estate agent.
Buying a house is a long and often tedious process but is totally worth it in the end. By establishing what you’re looking for, finding the right real estate agent, getting inspections, covering your house with a home warranty, making an offer, and closing, you’ll set yourself up for success.