You’re ready to buy a home. It is an exciting time, one where you could find yourself with a lot of questions and a bit of uncertainty about what to do next. Working with a real estate agent is one of the best decisions you can make. It affords you the time to work closely with a team who will get to know what your needs are and then make recommendations for you.
Consider a few of the steps in the process. At Kim and Lin Logan Real Estate, we have the experience and dedication to help you with purchasing Oconee and Lake Sinclair real estate. Here’s what you can expect from this process.
Discuss Your Needs and Wants
The first step in this process is to sit down with your real estate agent to discuss your goals. It’s important to define what you need (size, features, and location) with what you want (like that luxury master bedroom and fantastic view). You’ll work closely with an agent who will help outline your goals so the search can begin.
Align Financials First
Before you start looking for a home, be sure you have an approval from a lender about the amount you can spend on a home. It’s a good idea to do this first as it helps ensure that you are qualified to buy a home. Sellers find this to be important, too. Work with your agent to determine how to get a loan if you do not have a lender yet.
Start the Search and Find Your Dream Home
You’ll spend time working with a real estate agent to determine where your dream home is out on the market. You will have the opportunity to see homes, attend open houses, and work through a network of opportunities. Once you find the home you desire, you’ll then work with your agent to determine the best price for the home, balancing your goals of saving money while also ensuring that you do not miss out on your opportunity. Once you come to that agreement, the next step is to make an offer.
Offer Acceptance
If the seller needs to do so, there will be some negotiation in the process. That may include negotiations that benefit you, too. For example, you may want to ask the seller to make repairs if there are significant concerns. Or, the seller may ask for some concessions as well, such as asking you to pay some of the closing costs. Once there is an agreement, the process moves forward.
A home inspection is a necessary step for most lenders but a solid tool for you to use, too. It allows you to ensure the property is in the condition desired to ensure there are no costly surprises later. You can go back and negotiate if there are concerns with the inspection.
The Closing Process
At this point, there is a waiting game that requires the lender to handle their work on the deal. This often means that the offer and the contracts go to the loan underwriters, who review the information and verify your financials. Once the underwriters agree, they then move the process to the closing.
Closing is the process in which you will sign documentation to purchase the home. Closing is an important time in this home buying process and one that you do not want to rush. Review every document provided to you by the title agent or the other professional who comes to you to review information.
You’ll want to ensure you ask every question you have at this moment. You will learn about all costs involved, the monthly payment you are expected to make, and sign a wide range of documents agreeing to the terms. It’s a lot to take in, but after the closing, the loan title changes hands, and you end up with the keys within a few days.
Remember, you do not have to go through any part of this on your own. Your real estate agent is working with you and has your best intentions at heart. If you are ready to consider the purchase of a Lake Oconee or Lake Sinclair home for sale, contact our team today to discuss the options.