| Do you have a growing family and need a bigger | | | | There are three steps in selecting a home: accept |
| home, orperhaps need to down-size, so there is not so | | | | theseller's asking price and have your agent write up |
| much to takecare of? Are you relocating to a more | | | | thecontract, reject the seller's asking price and have |
| appealing area orbecause of job changes? | | | | youragent make a different offer, or agree to different |
| Let's begin the home buying process so that you | | | | termsand have your agent write an offer. This is all a |
| canunderstand how easy and hassle-free agents | | | | part ofthe negotiation process, which agents are very |
| make it. | | | | useful for. |
| #1 Getting Ready To Buy | | | | Communicating about the house and how it makes |
| So, you are ready to build the "American Dream?" | | | | you feel isimportant when making this decision. It is also |
| Preparingto buy a home can be exciting and terrifying | | | | important tobe realistic when it comes to how much |
| at the sametime. Luckily, a real estate agent can lead | | | | you can afford whenselecting "your" home. |
| you in the rightdirection toward the home for your | | | | #7 Financing |
| dreams. You first maywant to ask yourself: | | | | Doing your homework about loans will save you time |
| - What are you looking for in a new home? | | | | andmoney. There are thousands of loans out there to |
| - Do you have enough money to purchase a new | | | | choosefrom, but it is important to keep in mind several |
| home? | | | | keyfactors that will help you along the way: |
| - How does your credit look? | | | | - How much money should I put down? |
| #2 Finding a Realtor | | | | - How is my credit? |
| Before you choose a real estate agent, it is important | | | | - Is this my first home? |
| to doyour homework on the real estate companies in | | | | Again, mortgage loan calculators such as those at |
| your area. | | | | may come in very usefulat this stage. |
| Feel free to ask them the following questions: | | | | #8 Insurance |
| - Search the Internet for your local real estate | | | | Insuring your home is like making an investment in |
| companies. | | | | yourfuture. You work hard to have a home and |
| - Review local publications for agent advertisements. | | | | homeownersinsurance protects you and your family |
| - Call each company to compare commission fees, | | | | from someone orsomething taking it all away. |
| marketing campaigns and yearly sales volume. | | | | There are many different forms of insurance: |
| - Talk to people. 9 times out of 10, someone you know | | | | - Title Insurance - which protects you in the event that |
| has sold their home and can point you in the right | | | | the title on your property has a lien, unpaid taxes, or |
| direction and provide a credible recommendation. | | | | other legalities that would make it invalid. |
| I personally endorse Realty Executives for a variety | | | | - Homeowners' Insurance - which protects your home |
| ofreasons, but you should make your own decision. As | | | | from fire, theft and other liable coverage. |
| I said,every situation is different, so find who will best fit | | | | - Flood Insurance - which protects your home from |
| yourneeds. Furthermore, do not be afraid to meet with | | | | flood damage. |
| manydifferent agents. After all, they are competing for | | | | - Home Warranty - which offers buyers and sellers |
| yourbusiness and this is what makes the real estate | | | | the peace of mind that should anything unexpected |
| industrysuccessful. | | | | happen (due to normal, everyday wear and tear) of |
| #3 Starting the Loan Process | | | | the home's appliances, heating, air conditioning, plumbing, |
| It is important as a buyer that you establish some kind | | | | and electrical systems, it will be repaired (or replaced in |
| offinancing before you make any kind of serious offer. | | | | some cases) for you without costly fees. |
| The | | | | #9 Closing Procedures |
| "pre-approval" process allows lenders to take a look at | | | | The closing process is always changing. It is even |
| yourfinances and credit history in order to make a | | | | referredto as "settlement" or "escrow" in different |
| generalassumption about your loan amount. | | | | parts of thecounty. With increased technology, most |
| The pre-approval process is when a lender looks at all | | | | closings arecompletely automated and both parties do |
| ofyour finances and determines the amount of money | | | | not have to bepresent at the same time to sign. |
| you couldafford for a mortgage. | | | | Closings usually take about 30 days to complete. This |
| In order to get pre-approved for a loan, you need to | | | | mainlydepends on the buyer's financing availability, |
| contacta lender. Your real estate agent can also help | | | | successfulhome inspection completion, and various |
| you help youfind a lender that you feel comfortable | | | | lender conditions |
| with and that offersprograms best suited to your | | | | (ex. title search, title insurance, termite |
| needs. | | | | inspections,surveys and appraisals). |
| #4 Starting Your Search | | | | The closing process is the transfer of the title of |
| Now, it is time to start your exciting search for homes! | | | | theproperty from the buyer to the seller. The buyer |
| Youmay want to narrow down your search by asking | | | | willreceive the keys to the home or the deed to the |
| yourself thefollowing questions: | | | | land, whilethe seller receives payment for the property. |
| - Where do I want to live? | | | | The amount theseller receives is based upon the |
| - What is the neighborhood like? | | | | amount that is still owedon the mortgage, any |
| - What is the crime rate? | | | | outstanding fees or taxes and anyadditional closing |
| - Would I be moving into a good school district? | | | | costs. All legal papers are filed withthe local record |
| - Are there any zoning restrictions? | | | | office. |
| - How far is this home from my job? | | | | It is this step where the buyers and sellers do very little. |
| - What is my price range? | | | | It is important as the seller to take a final walk |
| - How many bedrooms and bathrooms do I want? | | | | throughthe property to make sure the property's |
| - What style of house are you attracted to? | | | | condition as notchanged. It is equally important for both |
| - What amenities do you desire (ex. pool, fenced-in | | | | the buyer andseller to make sure the paperwork they |
| yard, etc.)? | | | | are signing reflectsthe agreement of the original sale. |
| - Does this home have potential to increase in value? | | | | I must say, I'm always far more comfortable having an |
| - Is there room to expand if we would like to build an | | | | agentrepresenting me for this stage! |
| addition? | | | | #10 Settling In |
| Remember, though, that real estate agents can see | | | | You have unpacked boxes, arranged your furniture |
| most newlistings first. When timing is often so crucial in | | | | and feelcomplete with your moving task. What's next? |
| grabbingup a home or price you desire, make use of | | | | There isalways an adjustment period when you move. |
| your agent tohelp you spot it as soon as it enters the | | | | It is importantto understand that what you, your spouse |
| market or relistswith a new price. | | | | and/or children maybe feeling is completely normal. |
| #5 Finding Your New Home | | | | Here is a list of a few things that may help: |
| Beginning the search for your new home can be a | | | | - Urge everyone to talk about how they are feeling. |
| greatfeeling. It is important that you directly | | | | - It is important to get outside and tour the |
| communicate whatyou desire in a home to your real | | | | neighborhood or take a drive and visit some new |
| estate agent. | | | | places around the community. |
| You may want to first begin by making a list of the | | | | - E-mail old friends and neighbors to let them know |
| featuresand benefits that are most important in your | | | | about your new home and community. |
| pursuit offinding a home. These could be: | | | | - Start a list about what they like about: |
| - Location | | | | - Home |
| - Affordability | | | | - School |
| - Size | | | | - Neighborhood |
| - Style | | | | - Community |
| - Design | | | | - Church |
| - Amenities | | | | - Friends |
| Looking for a home in an area where you feel | | | | - Teachers |
| comfortable iskey. Instruct your real estate agent to | | | | I hope this helps you in the process of finding a home. |
| look in specificareas that you have designated. | | | | Iknow I've been lucky in having a very helpful and |
| #6 Making an Offer on a Home | | | | caringagent assist me, and I hope you're able to find |
| Selecting a home should be relatively easy once a | | | | the samekind of assistance. Good luck! |
| home fallssomewhere in your criteria and the property | | | | You have permission to publish this article free of |
| is desirable forpurchase. | | | | chargeas long as you are not selling it and that you |
| You will want to inform your real estate agent what | | | | include thearticle in its unmodified entirety, including the |
| you likeabout the house and make a list of your likes | | | | authorbylines, and if published in an electronic medium |
| and dislikeswith the property. | | | | such as ona Website, that you make all links active. |