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
The market is insane right now and buying a house is more stressful than ever. I've been a loan advisor for 10 years and having a realtor who knows what they are doing and works with me to ensure we can get the loan done as smoothly and easily as possible for the client is a dream come true! If you are looking to buy or sell a home, look no further! You will not be …
-Erin L., Colleague
Miriam has done an excellent job in helping us find the perfect house for us! She is very knowledge and personable. Miriam was very responsive with all questioned asked. She made our house buying experience enjoyable. I would highly recommend!
-Amber B., Client
We have to give Miriam five stars! Her hard work and expertise helped us to find a quality home at a good price in a very short period of time. We had a time constraint, which meant almost living every day in search of a house. Miriam was not only patient but excited with us on the prospect of our getting something just right. She worked tirelessly in the awful Indiana …
-John & Elizabeth E., Client
Miriam gave a super professional experience to me during this entire transaction, was super responsive, and very funny which helped me greatly with being at ease through the transaction!
-Toby P., Colleague
My husband and I worked with Miriam to sell and buy our home in the summer of 2014. While we had not seriously decided to sell and buy new, we met her at an open house on June 1 and on July 8, closed on both homes. She was able to make recommendations for a mortgage loan officer and handyman to assist with inspection follow through. She even drove to Greenwood to pick up …
-Laura E., Client