6 Steps to Buying a Home
Buying a home is a very important decision and can be very intimidating. The 6 steps to buying a home below will help clarify the process. Here at the Lockhart Real Estate Team | Keller Williams Realty, we understand and take the time to listen to you to learn what you need and want in your new home and will take you to view homes which meet your buying criteria. For a free buyer’s consultation, call us to day at 940-228-1730.
The 6 steps to buying a home are first to meet with your agent to conduct a needs analysis. This step is often skipped by agents in the market to the detriment of their clients. The foundation of any building is essential to a sound structure. This needs analysis is the foundation of your home buying experience and should not be skipped.
Step 2, is the loan pre-approval process. It is important to obtain lender pre-approval for a number of reasons. Being pre-approved turns you into a cash buyer, demonstrating to the home sellers you are serious and qualified. Having the pre-approval letter in hand can give you a stronger negotiating position saving you money. Also, it assures you will only be looking at homes in the proper price range which is Step 3. It can be very demoralizing to home shoppers when they spend countless hours looking at homes just to find out they are looking in the wrong price range. It also allows you to move fast and get that perfect home under contract quickly.
Step 4 is making an offer. There is much more than price that goes into the offer. Pretty much everything is negotiable including price and terms. You may ask for a certain closing date or non-realty items such as the refrigerator, washer & dryer, even the BMW in the driveway.
Step 5 is the home inspection. Having the home inspected by a licensed home inspector will make sure we didn’t miss anything major during the initial walk through. Home inspections are for major items such as roof, air conditioning and heating, electrical and plumbing. We can ask for repairs to be completed by the home owner in an amendment, and if they seller disagrees we can walk away during the option period. Repair items in the amendment should be items for which you are willing to walk away from the home if the seller does not agree to repair, not a drippy faucet or paint color.
Looking to Sell a Home? Check out our Comprehensive Guide answering How to Sell Your House Fast in Wichita Falls.
Step 6 is closing. Closing takes place at the Title Company and is when all your hard work has paid off. You will need to bring a photo ID to closing for the notary stamp and certified funds such as a Cashier’s Check or wire for the down payment and closing costs.
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