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Steps to Home Buying

Buying is an exciting time. But, yes, it can be stressful too. The best way to never get cold feet is to be informed and educated as much as possible on the process. At A Squared, we value that knowledge is power and want all of our clients to be empowered through the home buying process.

Easy as 1 2 3.. Okay maybe a little more

1. Check your credit score and find out how much house you can afford

Everyone has access to easy free apps to check your credit score. Most of these apps even have tips to help improve your score. To find out how much house you can afford, the best way to go is to reach out to a local lender. Head over to step 2

2. Get Pre-Approved and Find a Realtor

While we hope you hire A Squared Realty to represent you, we understand if you don't. Find a realtor that knows the market area well and has built connections in that area. Their knowledge and expertise will serve you well and may even save you $. We work with different lenders and would love to help you find one to get a SAME DAY pre-approval. 

3. Start the home search

Even with the best Real Estate Agent, buying a home in a sellers’ market can take a lot of your time, so be prepared, be flexible, be ready to move quickly, and be decisive. Try to stay flexible — you’ll probably need to adjust your criteria as your home search continues. For example, you might decide it’s worth sacrificing an extra bedroom to be in your desired neighborhood. Play around with search parameters and see what your money would buy if you changed your wish list a bit.

4. Make an Offer

Biggest considerations in making an offer are the disclosures, closing date, occupancy allowance for sellers, contingencies, and earnest money deposit.  Increasing or decreasing these items might make your offer look better, even if you cannot pay more than another offer. Talk with your agent about the best strategy to get your offer accepted.

5. Scheduling Inspection and Appraisal

Getting a private home inspection done is something we strongly recommend. This will warn you of any potentially expensive defects with the property as well as educate you on home maintenance to keep your new home in tip top shape. Once the inspection has been done, and everything is satisfactory, you order the appraisal with your loan officer. The appraisal is done by the bank to show that the property you are buying is worth the loan amount.  If the property appraises at the offered price, you are good to go. If not, there is some renegotiation to take place to ensure you still get the home without paying more money.

7. Close and Move

Once all contingencies are met, the loan will go to final underwriting for approval, a few days later and you will be clear to close! Time to schedule a closing date and time with your agent. Once all parties agree on time, date, location you will need to purchase home owners insurance and provide it to your lender before closing. If there is no seller occupancy you get your keys directly at closing. If the seller had occupancy, a day and time will be arranged for a key transfer and you will officially be moving into your next home.

A lot of information.

Real Estate Agencies are hired for a reason. These items require careful consideration and negotiation. You need some one on YOUR team ensuring you are being taken care of every step of the way. A Squared Realty can provide you with inclusive services to make sure you and your investment are being protected. Contact us today!

Need an agent?

We will treat your deal like it is our own. Contact us to find out more on why we should represent you.

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