HOME BUYING PROCESS SUMMARY
- – DECIDE TO BUY A NEW HOME
- – GET PRE-APPROVED
- – MEET WITH YOUR REAL ESTATE AGENT
- – FIND A HOME YOU LOVE
- – SUBMIT THE OFFER
- – CONDUCT HOME INSPECTION
- – NEGOTIATE AND SIGN PURCHASE CONTRACT
- – SUBMIT CONTRACT TO LENDER FOR LOAN APPROVAL
- – GET HOMEOWNERS INSURANCE
- – SETUP ESCROW
- – SIGN FINAL LOAN DOCUMENTS
- – CLOSING. CONGRATULATIONS!
There are several critical phases in the home buying process that are equally important and before you begin, three factors need to be determined:
1. When Do You Want or Need To Be In The New House?
2. What Home Price Can You Afford?
3. What Is Your Home Criteria?
The answers to these questions will allow you to make better decisions in the home buying process.
Let’s Break down each question so you can have maximum decision-making power and make owning your dream home a reality!
Question One: When Do You Want or Need To Be In The New House?
Knowing what your move-in deadline is helpful to know. Usually, the timing for buying a house depends on life events such as family changes, relocation, lifestyle changes, downsizing or upgrading from your current property, etc.
Home Buyer Tip: Assess your situation and set a specific move-in deadline. This will allow you to plan and prepare more efficiently.
Question Two: What Home Price Can You Afford?
Now that you have set the move-in deadline the next important factor to determine the price point you could afford. Knowing your budget will save you a lot of time and frustration when searching for a home.
This is the time when you will have to communicate with the lenders and choosing the right lender is equally as important as choosing your Real Estate Agent!
Question Three: What Is Your Home Criteria?
With Preapproval, you can start looking for homes available in the Dallas Fort Worth area.
I will help you locate and buy your Dream Home in the DFW area and before we start looking at the available properties, you will need to make a list of the most essential home criteria. These are the things that are most important for you when deciding which home to buy.
- – What location/area do you want are you looking for?
- – What proximity to schools, neighborhood amenities, shopping, etc. is needed?
- – What is your preferred condition of the home? Are you looking for a fixer-upper or pre-own or New Construction?
- – House Year built?
- – How many stories?
- – How much square footage do you need?
- – How many bedrooms/bathrooms do you need?
- – Do you want a single car or double car garage?
- – Do you want a pool on your property or will a community pool in the subdivision be suffice?
- – What lot size do you want?
These questions will help you identify the home you are going to love!
When we find a suitable Home that matches your criteria and price point, I will submit the offer on your behalf.
Once your offer is accepted the contract will be executed, and the Home Inspection and Survey will be recommended before making the contract final.
If there are no findings that may affect the home value, the contract becomes finalized and your Loan Officer complete the mortgage.