Real Estate Education

Understanding Home Buying

Buying a house is a pretty big deal, right? Whether it’s your first home, or you’re moving up or downsizing, there are several decisions you need to make, and so many changes ahead. My goal is to make buying a home fun, exciting, and memorable! The best way to meet this goal is to help YOU be the most prepared buyer you can be! There are many steps to the home-buying process, including: the pre-approval, showings, purchase agreement, inspections, appraisal, final walk-through, and closing. That’s a lot, right? Don’t stress – working together, I will take the stress away by helping you PREPARE! Check out my HOMEBUYER BOOTCAMP to get started and find out how much you know!

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Pre-Approval Process

You need to know your budget before you start shopping for homes. Without a pre-approval from your lender, it’s like going shopping without a wallet – doesn’t make sense, does it! It would be THE WORST to find a home you ABSOLUTELY LOVE, and find yourself disappointed when you can’t afford it! A pre-approved buyer is a prepared buyer!

Be Prepared Before You Buy

You will have initial expenses when making an offer and purchasing a house, before you even get to the closing table.

1) You will have to put down earnest money, basically telling the seller you are “earnest” about purchasing the house. This money is submitted with your offer to show you are serious. It comes out of your account AFTER your offer is accepted. If everything goes well, this money is credited to you at closing. If you freak out and change your mind for no good reason in the middle of the transaction, you lose this money.

2) Home Inspection: Home Inspections typically cost anywhere from $300 – 500 dollars. This is a buyer’s expense, and is typically paid by the buyer at the time of inspection, or shortly after receiving the home inspection report. This is your chance to learn about the house and any issues, BEFORE buying. DO NOT, I repeat, DO NOT skip the home inspection!