First Steps to Buy a House
If you know what to expect – and you have a trusted team of real estate and mortgage lending professionals to guide you – finding and financing your first home can be an exciting and rewarding experience. Here’s what you need to know:
Obtain Mortgage Preapproval Before You Begin House Hunting
• Learn how much home you can purchase
• Strengthen your bargaining position with sellers
Choose a Real Estate Agent
• Ask mortgage lenders to recommend agents they work with
• Select a reputable professional who knows the market and will listen to your needs
• Ask agents for references from former clients
Find the Right Home
• Determine the needs of you and your family
• Create a wish list of desirable features
• Take notes as you preview homes
Make an Offer
• Your real estate agent presents your offer to the seller, who will accept, counter or reject it
• When the price is settled, you and the seller sign a Purchase Agreement, defining the terms of the sale
Have the Home Inspected
• Hire a professional home inspector after the offer has been accepted to provide an in-depth look at the basic systems of the house, to reveal any safety hazards and give you a chance to reconsider the deal
The Home Will Be Appraised
• An appraisal, required by your mortgage lender, is a formal, written estimate of the home’s current market value
•Obtain Title Insurance (where applicable) This guarantees that the property you are purchasing is free of liens or confusion in rights of ownership
• The policy insures against any losses to the property that result from defects in the title or deed
Close on the Property
• Ownership of the property is transferred
• A closing agent coordinates and distributes all the paperwork and funds And you become the proud owner of your new home!
Whatever your home financing needs, we’re ready to help with a broad range of programs, moneysaving options and personalized service.
