You're looking to buy a home but aren't sure where to start? We can help you with your journey to home ownership. Please see the basic steps below. You can always call one of our experts at 801-716-5246 or fill out our contact form and have an expert contact you at a time that is convenient for you. The specific way you progress through a home buying transaction varies depending on the real estate laws and customs where you live, but there are many home buying steps that are standard, even though they might not be accomplished in the same order in every location.
You'll feel more confident about your home buying journey when you understand what is required of you and every other person who is involved in the transaction. This guide takes you through it, and shows you that you're only a few steps away from buying a home.
Step 1, Get Your Finances in Order
Your credit reports are an ongoing look at how you manage your finances. You must know exactly what your credit reports say about your financial history. You credit report plays an important role in the mortgage approval process and in determining the interest rate and other loan terms that a lender offers you. If you haven't looked at your credit reports, you might be surprised at their contents, because errors are common. Contact an Expert at the Mortgage Solutions Team to get the ball rolling. You can click HERE to complete our loan application and get pre-approved.
Step 2, Get Pre-Approved for a Mortgage
Do you know how much house you can afford? Probably not..
Pre-approval helps you in other ways. Consider this scenario. A home seller gets two similar offers. One is accompanied by a letter from the buyer's Mortgage Expert that states he/she is pre-approved for a mortgage in the amount of the offer. The other has no supporting documents. Which offer do you think the seller will consider first?
Step 3, Determine Your Wants and Needs
Buying a home isn't as difficult as you might think, even if you're short on funds, but the process will go a lot smoother if you get familiar with your real estate market and narrow down your wants and needs before you start looking at houses.
Step 4, Learn to Work with Real Estate Agents
Real estate agents represent buyers, sellers, or both--and in some states they can work as neutral facilitators for either party. It's essential to understand agent duties and loyalties before you make that first phone call. We can help by referring you to one of the best Utah Real Estate Professionals as well.
Step 5, Start Searching for a Home
Your agent will give you multiple listing sheets to study. I'm sure you'll also pick up House For Sale magazines and read classified ads in your local newspapers. You'll probably spend time surfing the Internet for homes. You might even plan afternoon drives to preview neighborhoods. Those are all excellent ways to see what's available.
Step 6, Handle Pre-Offer Tasks
Deciding whether or not you want to buy a house involves a look at its structure and its features, but there are many other topics that are every bit as important to your purchase.
Step 7, Make an Offer
There's no one set of instructions that can cover all the differences in real estate laws and customs that exist throughout the United States, so the mechanics of making an offer and its specific contingencies depend greatly on your location. However, there are some home buying tips that can help you fine-tune your offer, no matter where you live.
Step 8, Home Inspections and Other Tests
In some states, home inspections are accomplished before the final purchase contract is signed. In other states, inspections take place after an offer is finalized. No matter when you do them, it's critical to decide which inspections and tests you want to perform. Talk with your real estate agent or other advisor to find out when inspections should be handled and if additional types of testing are important for your specific area.
Step 9, Avoiding and Correcting Last Minute Problems
As your closing date nears, everyone involved in your real estate transaction should check its progress on a daily basis, because staying on top of things means you'll know immediately if there's a problem that must be dealt with. Here's a bit of information that focuses on a few common problems that home buyers must deal with before they close on a house.
Step 10, You're on the Way to Closing
Most of your home buying problems are behind you now and you're on your way to closing, also called settlement, the event that transfers ownership of the property to you. Just a few more things to learn, a few more things to do, and you're there!
The steps outlined in this article are a general home buying guide. You will encounter issues specific to your location and your transaction, issues that can best be explained and handled by your local real estate agent, your Mortgage Expert, your attorney, your closing agent, or others who are helping you complete the home buying transaction.
Never hesitate to ask questions. Ask as many questions as necessary to help you understand the entire home buying process. You are making a long term commitment and spending a major amount of money--you'll feel much better about the transaction if you stay informed and understand what's happening every step along the way.
If you would like help starting the Home Buying process you can Apply HERE or use the Contact Form below to have one of our Mortgage Professionals contact you at your convenience.
Mortgage Solutions TEAMat Christian Roberts Mortgage 512 E. Winchester Murray, Ut 84107 Ph 801.716.5246 Alt 801.716.5251 www.mymtgsolution.com firstname.lastname@example.org