Buying a home can be complex, especially for the average homeowner who might be doing it for their first time, or their first time in a long time. We have broken down the process in six simple steps.
- Hire your REALTOR®. When you hire your REALTOR®, interview them, and feel comfortable with their knowledge, integrity and customer service. We strongly believe that as REALTORS®. We are not in sales, moreso in a customer service consultative relationship. We will be thorough with you in the beginning, to be efficient with you throughout the process. Many people choose their REALTOR® because of a prior relationship; (family or friend) Doing somay cost you thousands of dollars, or even your dream house, if they don’t have the other qualities necessary.
Fun fact: The costs for you to hire a Buyer’s agent is minimal. Closing costs for a buyers agent will be less than $400. The majority of a buyer’s agent’s income is paid by the seller.
2. Secure pre-approved financing. Speak to a loan officer, and just like a REALTOR®, be comfortable with who you are working with. It has been our experience that in a competitive market, some things we recommend in a loan officer (aside from good rates and low fees) is someone local, and direct access to a person handling your file. In a pinch, we may need to call the loan officer after normal business hours in order to win a deal; accessibility has proved to be vital.
3. Find your home. When you work with The Bosley Team at Keller Williams, we leave no stone unturned. We will begin the home search online on a Zoom call. Identify your needs and wants in a home, and narrow that criteria through the MLS (Multiple Listing Service) until we can find a range of 35-50 homes that fit your criteria. We will then go through and look at several virtually so help me get in sync with what you find important in a home. You and any other decision makers will have these sent to your email, to identify as Trash, Interested, or Love. It is recommended to narrow this search to your top 5-10 homes. (you may choose to drive to the area’s to help narrow your search) Once you have 5-10 homes, we will schedule walk through appointments and choose the best home for you to write an offer.
4. Make an offer and negotiate. There are several factors to consider when writing your offer. The price, the escrow deposit, the inspection period, the closing date, closing costs, home warranties, and additional contingencies on the home. Each of these factors will hold some weight to the seller when reviewing your offer. We will help you choose the best terms that don’t put you at risk, yet also doesn’t look bad to the seller.
5. Get home inspected and negotiate repairs. You will usually have 1-2 weeks to get the home inspected. We have a great company that can be found under the PRO’s tab or you can choose a company you already feel comfortable with. We are looking for findings, that had we known it would have changed our decision or criteria of the offer. Most of the contracts written are As-Is. Depending on the competition for the home, there may be some room to negotiate based on the findings, and not always.
6. Close and be a homeowner. We are seeing financed homes close in 25-45 days from the time of contract. You will do a walk through the day of closing for final peace of mind. Closing will typically take place at the title office and take 30-90 minutes. It is not required for your REALTOR® and Loan Officer to be present, yet we choose to, to either celebrate with you, or navigate through any last minute turbulence.
It would be our pleasure to partner with you on your home buyer journey!