Home Buying Process – The 7 Steps

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We’ve talked about the questions you need to ask yourself as you begin the home buying process to figure out what you want, but if you’re a first-time home buyer, you might not know everything that goes into buying a home.

As a licensed Realtor with expertise in buying and selling homes, I’m here to provide you with resources you need to make the process as easy as possible for you.

Evaluate Your Finances & Your Credit

Before getting started in the home buying process, it’s important to evaluate whether it’s feasible for you and what your budget could be. You can get a free credit report to check your credit score, and research interest rates to find out what you will likely qualify for. The higher your credit score, the lower the interest rate on your mortgage will be.

Evaluate how much money you have set aside for buying a home, whether it’s a single income or dual income, to decide how much your willing to pay. Once you’ve established this, research the housing market in your prospective area to give you a good sense of what your money can get you an decide if it’s the right time to pursue buying a home.

Find a Real Estate Agent

Once you’ve evaluated your finances and decided to move forward with buying a home, the next step would be to find an agent to help you through the process. By finding a Realtor to work with that has expertise in the area, their guidance will make the process seamless and stress-free for you.

Get Pre-Approved by A Lender

If possible, get pre-approved by a lender early in your home search. If you find a licensed lender in your area with a history of positive customer ratings, they can pull your credit report and assess your financial situation, from there they can give you a letter that states the amount they would be willing to lend you.

By getting pre-approved, it can make the buying process easier for you by giving the seller more confidence that you will be approved for a loan to purchase the home when the time comes.

Start Your Search

Once you’ve assessed your finances, found a Realtor and gotten pre-approved – you’re ready to start shopping! Talk with your agent about what you want in a home, your price range, and the area you want to live in – and start looking at listings online or with your agent and start touring properties. Make sure you know what your top priorities are and what your deal breakers are so you can narrow down your search and discover your dream house.

Make an Offer

Depending on the homes available in your area, the process of shopping around for a home could vary. You might find the perfect home for you right away, or you might have to spend quite a while looking. Either way, once you find the right home for you, you can work with your agent to craft an offer. You may get a simple yes or no, or you may get a counteroffer to consider.

Home Inspection, Insurance & Utilities

After your offer on a home gets accepted, there’s a number of housekeeping duties that need to be taken care of. Most likely, you will need a home inspection, where an inspector will look over the home to make sure there are no unseen defects or things that need to be fixed. You’ll also need to set up homeowner’s insurance and contact your utility company with your move-in date to establish service.

Closing Day

Closing day will be the day that you finally get the papers that establish you as the owner of the home and make things official! From there, you are a homeowner, and you can get your keys and begin the process of making your house a home.

Work with A Licensed Realtor to Buy A Home in Southwest Florida

If you’re ready to begin the home buying process in Southwest Florida, it’s imperative that you find an experienced realtor with expertise in the area to help you through every step. Jay Montgomery specializes in buying and selling homes in Bonita Springs, Estero & all of Southwest Florida and can guide you through the home buying process.

Contact Jay here or give him a call at 239-301-9453 to get started!

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