Buying Process
When you are ready to find a new home, there are a lot of questions that will probably cross your mind. Here are some helpful points to help you begin your search.
Here are some tips to taking the stress out of home buying:
- Hire a REALTOR®. One of the most important decisions you can make in looking for your new home is hiring a real estate expert that can advise you throughout the process of looking for your new home. At Residential Realty Advisors of America, we offer our clients valued advice from our experienced agents. Our Advisors will help you find, negotiate and close on that perfect home that meets your needs.
- Prequalify for a loan. It is very important today to get connected with the right mortgage professional. They will help you determine what amount of a loan is right for you. In doing so, they will provide you a pre-approval letter. This letter will help you convey to a potential Seller that you are serious about buying the home. In addition, a pre-approval letter will help your Agent negotiate the best possible terms on your behalf as a qualified Buyer.
- Determine what is important to you in a home. Once qualified, you can now work closely with your Agent to determine features in a home are important to you. Within your price range, there may be hundreds of homes available. It is important to outline what features are important to you, so your Agent can help you identify the best homes available in the market.
- Start your search. Residential Realty Advisors of America provides our clients free access to all of the homes for sale in the market. In conjunction to working with one of our Advisors, we encourage all of our clients to use our online search portal to begin the search. Once a list of potential properties is narrowed down, our Advisors can set appointments to tour each of them with you.
- Think of future. Now that you have identified what type of home you are interested in, it is also important to think about the future. Your Advisor can help you select the perfect home that will meet both your current and future needs.
- Tour properties. After looking at each property, make a list of what you liked and did not like with each property. It is also helpful to bring a camera to take your own photos of the property. Your Residential Realty Advisor's Agent will help you evaluate each property, it's many benefits along with providing an analysis of how it is priced compared to other properties in the market.
- Submit an offer. Once you have found the right home, Your Residential Realty Advisors of America Professional will guide you through the contract, negotiation and closing process. During this negotiating process, it is especially important to have your Residential Realty Advisors of America Agent by your side. Their experience will guide you to a successful purchase of your new home.
- Inspections. Once the offer is accepted, our Agent will set up a home inspection for you. The inspections typically cover the entire home, including any potential termite infestation. Most Buyers also choose to have a Radon Gas Test completed at this time as well. With any home old or new, it is very common to find some needed repairs and maintenance. Your Residential Realty Advisors of America Agent will walk you through the inspection report and advise you on which items you may want to have fixed before and after closing. In certain metropolitan areas, it is also common to have both a municipal, and gas inspection performed prior to closing. Some lenders may also require inspections as well.
- Pre-closing. During this pre-closing period, you should notify all utilities of the change of ownership, including your insurance company. The day before closing, we recommend you do a final walkthrough of the property with your Agent. The purpose of this walk through is to ensure that any and all deficiencies in the home inspection have been completed or resolved. In addition, the walkthrough will give you a last chance to make sure that your home has been vacated and ready for you to take ownership.
- Closing. Most closings take place at the offices of title companies. At closing, the title company will work in conjunction with your new lender to transfer the home and new loan into your name.
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