First Time Homebuyer

Steps To Buying Your First Home

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1. Determine How Much You Can Afford

Key Factors include:

  • Income
  • Debt
  • Credit Score
  • Monthly Bills
  • Closing Costs

2. Get Pre-Approved

A lender will officially review your income, credit score, and expenses. The lender sets a price range for the houses you can afford, and agrees to loan you a set amount of money.

You will need:

  • Proof of Income
  • Proof of Assets
  • Good Credit
  • Employment Verification
  • Documentaion

3. Search For a Home

  • Serach the internet
  • Consult your agent
  • Look for open houses or yard signs

4. Find a Realtor

5. Visit Open Houses and Tour Homes

Visting open houses and touring homes with your agent, can help buyers identify what features are most important.

6. Submit an Offer

You found the house you want to buy! Now its time to make an offer.

Your agent will help you:

  • Determine a STRONG and ACCURATE offer price
  • Establish contengencies
  • Obtain disclosures
  • Establish a closing timeline

7. Get a Home Inspection

Home inspections can often be over looked...but a thourough home inspection will determine any issues with the home. Some issue may be taken care of prior to closing, others may be future home improvement projects.

8. Get an Appraisal

An appraisal is an accurate valuation of the home. Lenders use the appraisal to issue the mortgage 

9. Renegotiate

If problems arise during the appraisal period, you may be able to:

  • renegotiate the price to accomidate for any repairs
  • Ask the sellers to pay for the repairs

10. Closing The Sale

All parties will sign the official documents, and the ownership of the property is transferred to you!