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Learn about the home buying process

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Choosing a Buyer Agent

Types of Agents

The Buyer Agent Process

Fiduciary Responsibilities


The Home Buying Process

The home buying process can be divided into the 8 steps listed below.
Please click on each individually for a more detailed explanation.

Step 1:  Consider hiring a professional agent to help you.
Step 2:  Determine your credit status and ability to obtain a mortgage.
Step 3:  Determine the price range you can afford given your resources.
Step 4:  Determine your needs and wants.
Step 5:  Find the right home.
Step 6:  Write the purchase offer.
Step 7:  Remove contingencies.
Step 8:  Close.


Step 5:


Finding the right home

You should check out lots of sources for possible homes to look at. An agent will be able to help you with listed property from the MLS, multiple listing service, where the majority of agents place their listings. They should furnish you with an initial list and then with periodic updates.

Other sources of potential homes include word of mouth; for sale signs; advertisements in local papers, homes magazines and penny savers; for sale by owners, Internet sites and open houses. What is important is that you see enough homes to develop a comfort level (gut feel) for the market.

Before you set up a time to go through any home, do a drive-by to check out the curb appeal and exterior condition of the home and the general neighborhood and location. Is it a convenient drive to work, school, shopping and entertainment? Once you have found one or more homes that look good on paper and from the street, then set up an appointment to see the inside of the homes.

Your initial inspection is done to eliminate homes that don’t meet your needs. Once you have done a preliminary inspection, set up another inspection of those homes that appealed to you the best. This could be one or two or more depending on how many homes you started with. In areas that are a strong seller’s market with few homes available, your choices may be few. Always try to go through a home at least twice before making an offer. You will see different things each time you go through a home. However, in a hot market with homes going fast, you may be able to only see a home once and then need to make an immediate decision so that you don’t miss out on a home.
 

 

 

  

 

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