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The 5 Step Home Buying Process  

 

1st Step

Selecting a Realtor:

 

Remember it is someone that you will be working with through the entire process.  Are they someone you can trust?  Do you believe they will work hard to find you what fits you needs and wants?  Will they be there for me after the closing if I still have questions?  Will they negotiate to help me get what I want?  Will they be knowledgeable on the market to make sure I am offering a fair price?  These are a few of the questions that will be good to know in making your decision.

 

2nd Step

The Lender:

 

Pre-approval is very important, you want to know for sure how much you can spend and still fit your financial needs as well as your wants.  Its not fun to look at a house and fall in love with it, only to find out it does not fit your financial needs.  Most offers also will not be accepted by a seller with out a pre-approval letter.  This could be a problem if you find a home and someone else with a pre-approval letter makes an offer on the house you want before you can get your pre-approval..  The lender is also very important in giving you all your options for the different types of loans and which would be the best for your needs.

3rd Step

Selecting A Home:

 

Examine your wants & needs.  I will help you find the property that satisfies your wants and needs.  Specifically, I am prepared to assist you in answering the following questions.  Which home will provide for your current needs in terms of features & size?  Is this the property located in the area or close to the area you desired?  Would you look forward to living in this home?  From a financial point of view, does it meet your budget constraints?

4th Step

Making The Offer:

 

First impressions are very important this is particularly true when writing an offer.  Your offer should not offend the seller, but it should present your proposal in the best manner.  The elements included in the offer are the following items:  The Offering Price,shat you have agreed to pay for the property.  Reviewing The Disclosure, Indiana law requires that all property owners, except new homes that have never been occupied, & Bank owned properties, to provide potential homebuyers a property disclosure.  Any defects must be reported.  The statue describes a defect as “a condition that would have a significant adverse effect on the value of the property, that would significantly impair the health or safety of future occupants of the property or that if not repaired, removed or replaced would significantly shorten or adversely effect the expected normal life of the premises.”  The Method of Financing, type of loan and amount of down payment.  Inspection Contingency, what things you feel need to be inspected before accepting the home.  Earnest Money, deposit.  This is the money that you will provide to bind the contract to purchase.  Generally 1% of the purchase price is considered adequate.  Request Items To Be Left With The Property, such as appliances, window treatments, ect….Occupancy Requirements and Suggested Closing Date, when you would like to close and move in to your new home.  It is most often the same date that the closing transaction will take place and the time in which you will become the new owner.  Always be aware, closing dates are often subject to change.  I will track this step on your behalf.  Other Contingencies and Specific Requests, “Subject to the home appraising for the selling price”, “Subject to buyer obtaining financing satisfactory to buyer”, ect….Contract Expiration Date,  date and time in which the seller has in which to respond to your offer.
 
 5th Step

After The Offer is Accepted:

 

I will assist you in scheduling inspections within the time specified on the offer.  This is a very important step we want to make sure that there are no surprises in your home buying experience.  If there are any repairs that need to be made or concerns that need to be addressed those will be taken care of in a Inspection Response and I will assist you in scheduling estimates on any repairs that might need to be made.  I will work with you, the seller, the lender, & the title company to set a closing date on your new home.  Then of course I will be there at closing with you as your representative.

 

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