hings You Should Know

uying a home is one of the largest investments that you will ever make. Finding a real estate professional to guide you through the process can save time and make the transaction easier.

After selecting the agent you are comfortable with, you should pre-qualify for a loan with a lender of your choosing to determine the maximum amount you are able to spend.

Now is the time to narrow down just what you are looking for in a home. How many bedrooms and baths your family requires, what style home and neighborhood do you prefer, do you prefer being out in the country or conveniently located near amenities. After this is determined your agent will research the area market to determine which listings meet your criteria, will set up appointments for you and accompany you to view available properties and answer any questions you may have.

Once you have located the home for you, your agent will prepare and present your offer to the Seller. There is no standard, so you can add or modify the contract to suite and if the seller agrees you have a deal. Once the offer is signed and accepted by the Seller, you will have a legally binding agreement. If not, you can either choose to continue negotiations or continue your search.

Some considerations that should be inclusive of your offer are:
What fixtures, appliances and personal property are to be included in the sale of your home.
That your deposit (i.e., escrow or earnest monies) is to be refunded and the sale cancelled if you are unable to obtain acceptable financing for the home within a specified period of time.
That you would like to have inspections done as outlined in the offer, be it a full home inspection, radon/lead-based paint/mold testing, pest inspection, etc.) and that the contract is subject to your satisfaction of the results on the report.
That there is certification that the house is structurally sound and that plumbing, heating and electrical systems, as well as any appliances being left, are in good working condition.
That the property will be left in broom clean condition, free of refuse and debris of any kind, with nothing left behind except what has been stated in the offer before you take possession.
How negotiable costs will be divided such as prepaids for taxes, assessment premiums and interest on assumed mortgages are to be divided between buyer and seller as of the settlement date, title search, property survey, building inspection, abstract updates and title.

In addition to the above, before you buy a home, make sure your offer contains the price of the home, the method of payment, the time you want possession of the property and any other requirements. Once the agreement to purchase is signed by both parties it becomes a legally binding contract. At the closing, all final documents securing the mortgage will be signed, the seller will be paid and you are then given possession of your new home!