How to Buy a Home in Four Simple Steps
Step One: Get Pre-Approved
- You need to know how much home you can afford and what kind of down-payment savings you need to have to make an offer.
- Remember: your competition will most certainly be pre-approved--and in today's market, you must have that competitive advantage.
- To a seller, there is little difference between a pre-approval and a cash buyer. If cash is king, then pre-approval is queen.
- Give your pre-approval letter to your broker so it can be uploaded into your file.
Step Two: Find a Broker
- Find a seasoned real estate broker.
- Ask them how long they've been in the business, how many clients they've represented and how established they are in the community.
- Remember: you will pay for a realtor even if you don't use one. A buyer's agent's commission generally comes from the sale of the house--not your pocket--so doesn't it make sense to have representation in the biggest purchase of your life?
Step Three: Start Touring Homes
- Start your search online and narrow down your criteria. Get clear on all the features you are looking for and consider your must-haves, could-haves and nice-to-haves.
- Pick your Top 10 Favorites (so exciting!) and ask your broker to schedule a private tour to see them.
- Let the fun begin!
Step Four: Make an Offer
- Once you have selected your home, your broker will make an offer to the sellers. There may be some back and forth (or there may not be) to find terms agreeable for both buyer and seller.
- Once your offer is accepted, you will be asked to give an earnest money deposit to show the sellers you are serious in the purchase of their home.
- You will need to schedule a home inspection from a reputable home inspection company.
- Your lender will ask you to obtain a homeowner's policy from your insurance agent and you will also have to pay for an appraisal. If paying cash, it is HIGHLY recommended that you still obtain homeowner's insurance and an appraisal.
- Your broker will start title work, which is done to ensure that the title is free from any liens or encumbrances against the property when it is passed on from Seller to Buyer. The process takes about 30 to 45 days to complete.
- Once your mortgage is approved through your lender's underwriter and/or the title report comes back as "clear", all parties close the transaction. This can be done at the title company, broker's office, etc.
What Our Clients Say
Five stars!
-Delia W., Colleague
Miriam helped us both sell our home and buy our new home. During this process, Miriam was very professional and responsive to our questions. She always kept us informed and updated. She kept things moving right through closing, we never missed a beat. I would highly recommend Miriam, knowing that she would do you a excellent job of selling your home or helping in the …
-Dennis E., Client
Miriam is the best! Tenacious, honest, professional, detail oriented, and customer-care focused, all while being well grounded and down to earth. Her integrity is impeccable. She's not about the numbers--she's dedicated to serving her clients and will have your back. She insists on crossing all of the t's and dotting all of the i's. My husband and I have been married …
-Kimberly S., Client
Miriam has helped me buy and sell multiple properties in the Indianapolis area. We just completed another sale where I received maximum value for my home, thanks to Miriam's efforts to stage the home, research the neighborhood, write an outstanding description, and then help evaluate the 14 offers to find the true best offer. She provides excellent service in a …
-Marcia A., Client
I sold my home on the first showing. It was staged and priced right. Unfortunately I broke my leg shortly before closing. I relied on Miriam to help me Through the process. She went above and beyond to keep me informed, get inspection issues resolved and get me a few extra days to get moved out. I highly recommend her!
-Teresa Y., Client
