STEPS TO BUY A HOME
Are you buying the property with cash or taking out a mortgage? These are the types of questions we will help you tackle to ensure that you are financially ready to make your investment.
If you are buying the home with a loan then we recommend you meet with one of our qualified mortgage brokers. They will help you discover how much you can afford to pay for a home - giving us the starting point for our search.
While understanding how much you can afford is the first step, sellers will be much more receptive to potential buyers who have been pre-approved. With a Pre-Approval, the buyer actually applies for a mortgage and receives a commitment in writing from a lender. This way, assuming that the home you’re interested in is at or under the amount you are pre-qualified for, the seller knows immediately that you are a serious buyer for that property. Costs for pre-approval are generally nominal and lenders will usually permit you to pay them when you close your loan.
Searching for a home can be both confusing and intimidating if you do not have a plan in place. When working with Oak Avenue, you get a team that knows the market well and will provide you with a list of properties that fit your needs.
Consider working with an agent who will represent you throughout the home buying process. Our agents are trained to handle things such as paperwork, inspections, and negotiations all on your behalf.
DEFINE YOUR WANTS AND NEEDS
Make two lists. The first should include items that you must have (i.e., the number of bedrooms you need for the size of your family, a one-story house if accessibility is a factor, etc.). The second list is your wishes, things you would like to have (pool, office space, etc.), but are not absolutely necessary. Sometimes you may not find exactly what you are looking for, but a great agent can get you very close to it.
WHEN YOU ARE HOUSE HUNTING, REMEMBER...
Our team will guide you through the negotiating process - so there is no need to worry about whether or not you submitted a good enough offer.
SUBMIT A CONTRACT
After finding your ideal property our agents will work with you to submit a contract to protect your interests based on the market conditions.
Consider adding the following elements to your contract:
A Home Inspection Contingency - Have the property inspected by a professional; this can be a great negotiating tool.
A Mortgage Contingency - This will give the mortgage broker the proper time to approve your loan.
Request a walk through prior to closing.
If you are selling your home in order to get a new one, synchronize your contracts for a smooth transition.
All of the above may seem rather overwhelming. That is why having a professional to represent you and keep track of all of the details is highly recommended. Please email or call us directly to discuss any of these matters in further detail.
You've come this far - now all we have to do is make sure that all of the closing steps are in order.
About 5 days prior to closing, you will receive the Closing Disclosure, or CD. This will disclose all of the details of your loan and other important information for the closing. For example, the CD will disclose the required cash to close and any proration in taxes or rent.
PLAN YOUR MOVE!
Make sure to plan your move out and move-in according to your closing dates. A local expert can provide information on what the best solutions are for moving services around the area.