Buying a house requires a lot of time and effort, but these 10 steps can help make the home buying process manageable and help you make the best decisions possible.
As soon as you can, start reading Web sites, www.soldwithbrett.com is an excellent resource to help you get started. Make a note and favorite any of the homes you are interested in and see how long they stay on the market. This will give you a sense of the housing trends in specific areas of the Tri-Cities. Another great way to get ready to buy a home is to take one of the Home Buyer Education Seminars offered by Jeremy Brock and they are FREE. These classes will give you a more detailed overview of the processes, call 509-737-7161 to register today!
The first question you need to ask yourself is: “what do I want to spend on my Mortgage?” Before you even meet with a Lender know what your personal budget will allow and what you feel comfortable with. Then meet with a Lender, Jeremy Brock NMLS ID#1170125 works here locally and would be a great place to start. You can call his office at 509-783-4593 and ask for his assistant Mekila Jones, she will get you on the schedule and send you all the papers you will need to bring. Jeremy will review this information and tell you how much you are Pre-Approved for. Get ready to bring the following documents:W-2 statements, paycheck stubs, bank account statements, etc. You can also go to his website www.BigGuyInMortgage.com and click “APPLY NOW.” This will get the process started very quickly with an online application that will help speed up the process.
Real estate agents are important partners when you’re buying or selling a home. Brett Baker works with a team of talented agents who are here to help serve your needs. The Baker Team will assign an agent that bests fits your unique situation. Real estate agents can provide you with helpful information on homes and neighborhoods that isn’t easily accessible to the public. Their knowledge of the home buying process, negotiating skills, and familiarity with the area you want to live in can be extremely valuable. And best of all, it doesn’t cost you anything to use an agent – they’re compensated from the commission paid by the seller of the house.
Start touring homes in your price range. Make sure to check out the little details of each house. The Baker Team has a checklist that they will provide so that you can rank the houses that you see and find the one that you truly love. Take as much time as you need to find the right home.
Then work with your real estate agent to negotiate a fair offer based on the value of comparable homes in the same neighborhood. Once you and the seller have reached agreement on a price, the house will go into escrow, which is the period of time it takes to complete all of the remaining steps in the home buying process. At this point you will need to get a Home Inspection to make sure the home is in the condition that you approve of.
Now that you have an accepted offer the Paperwork portion officially jumps into high gear. If you have been fully Pre-Approved with Jeremy Brock then you are a little ahead of the curve, we will only need to update your basic information with new bank statements, new paystubs, and anything else we now need. You should expect a weekly update from Team Brock letting you know how your file is progressing.
You are here… CLOSING! At closing, you will sign all of the paperwork required to complete the purchase, including your loan documents. It typically takes a day for your loan to be funded after the paperwork is returned to the lender. The lender will send the wire of funds to the escrow company and then they will record it with the County. Now you get your keys. CONGRATULATIONS, you are a homeowner!