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Five Steps to Buying a House

Tips-for-buying-a-house-01

For the first time home buyer, it can be overwhelming to enter into the home buying arena. This is a completely normal feeling considering that homebuyers will come in contact with numerous people who will create a team, to ensure that your new home purchase is a smooth and successful process.

To ensure that your first time home experience is a smooth process, and has little or no stress involved, utilize the following five tips.

First, get pre-qualified for your home loan prior to going house hunting with a realtor. This will help your realtor to know your budget before showing homes. Once the Loan Officer advises of the pre-qualified loan amount, it is time to start house hunting. If referred to a loan professional from your realtor, make sure and get a second opinion from a friend, family member, or go online to www.trustlink.org. A second opinion ensures that your lender has your best interest, as their number one priority, and not the interests of your referred realtor.

Do not have a realtor? Interview multiple realtors before making your choice. Make sure that the agent selected will be accessible at any time. They should be happy to provide a cell number to be reached if a question arises after hours or anytime during the process.

Try not to rush to select your dream home. Waiting is better than buying a home that might end up not be the right home after a short time. Know that this stance will also be a good test for your real estate agent. If they are pushing to make an offer on a home, then it might be time to look for another realtor. The same goes for the lender. They should be willing to help, be patient, and respect your wishes with regards to your home purchase.

When discovering your dream home, and it is time to write the offer, make sure that there is ample escrow time. Call your loan officer immediately, to advise of your home purchase offer, so that they can share what to expect during the escrow process. An average escrow is 30 to 45 days. I do not recommend agreeing to a 15 day escrow unless it is a cash purchase.

Upon receiving notification of an accepted offer, advise your loan officer so they can start escrow. They will request any necessary items needed to begin escrow. Make sure and get the requested information to your loan officer no later than 24 hours after their request to avoid delaying your escrow. This is the time to request that your real estate agent calls your loan officer, so they can form a team to help make your home purchase smooth.

Finally, the best way to have a successful home buying process is to have open communication with everyone on your home buying team. If notification from your agent or loan officer does not happen on a regular basis, contact them regularly to ensure everything is on track. With these simple steps, the home buying process can be a fun and exciting process without any stress.

Steve is a race car and boat loving Dad with a love for adventure. When he is not bungie jumping off a bridge, he is playing Monopoly with his kids or working on re-building his classic car.
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5 Comments

  1. Buying a house for us was easy. But, we expected a much longer journey. My thoughts were that if it was meant to be, it would. 🙂 Great tips.

  2. Great tips but I hope that I can stay where I am and will never have to move again.

  3. Wonderful tips! I will be putting these to good use when me and my honey buy a house next year!

  4. Great tips! We are looking to buy a new house and we’ve just finished interviewing realtors.
    Kas

  5. Great tips! We’re considering purchasing a second home and the first was easy since it was from a family member so this will be completely different.

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