5 Steps to the Buying Process

 

                       
    Finances   -   Organizing your finances is the first step in your home purchase.  
 
  • Consider one time cost like the down payment, legal fees, inspection fees, taxes and moving expenses.
  • Anticipate all monthly costs including taxes, utilities and upkeep.
  • Determine the current equity in your home and consider paying off high interest loans or rolling them into a new mortgage.
  • Research several mortgage options and pre-qualify before making any offers.
  
       
 

 

 Your Needs & Wants   -   Consider your current lifestyle as well as the future budget.  
 
  • Select a location that best serves your evolving lifestyle and is close to the amenities important to you.
  • Look for features you will need, such as additional bathrooms or a large yard.
  
       
    Beginning Your Search   -   Preview home that meet your criteria and remain objective.  
 
  • Have your agent send you listings of properties that match your criteria.
  • Make sure your agents helps you understand current market conditions.
  • Be aware of noise levels from neighboring propertiess and the street.
  • Flush the toilets, turn on the shower, open cabinet drawers and look in closet corners.
  
       
    Making an Offer   -   Look at what comparable houses are selling for in the neighborhood.  
 

  • Invest in a home inspection and review any potential areas of concern.

  • Work with your agent to sort through key elements of your offer such as, price, deposit, financial terms, inclusions and exclusions and your closing or possession date.
 
       
    Closing   -   Hire a legal professional to manage all closing documentation  
 
  • Obtain Home Insurance and notify your lawyer and mortgage lender of the selected insurer.
  • Coordinate cancellations, transfers and change or address notification documentation, pay fees and collect keys to your new home