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Buying Your First Home – Part two

buying a new home in shopping cart

We’ve already taken you through some very important stages of the process and now you should be ready to move on.

The next step can make the whole difference to your mission:

Finding A Real Esate Agent

It’s amazing how many people find a real estate agent through word of mouth. This could be through family, colleagues or friends.

But what you really require is an in-person meeting with an agent as this will tell you if they can meet your needs.

real estate women holding a home for sale sign

It also means you can ask any questions and make yourself aware of the next stage and what’s involved! You may be required to sign an agreement but make sure you understand fully what you’re signing up to.

Once this has been done then it start’s to get really exciting in real terms as now you can begin looking for your home!

Your agent might ask for a wish list so they can help you along the way. This is where the needs and wants we talked about in part one come into their own. The agent will probbaly use the multiple listing service (MLS). This will give them a run down of all properties listed by brokers and agents!

The agent will be able to work their way to a handy list by narrowing down the property type. All the usual things come in here such as the number of bedrooms, bathrooms, age of property, floorspace etc. It will also enable the agent to filter everything down further and quite quickly!

Things To Consider At This Stage!

You must consider the resale potential of any property you buy just to be on the safe side. There are appraisals carried out to substantiate the purchase price in the form of home inspections, pest inspections and even through a preliminary title report. Your agent can give you some good and thorough advice on all of this. When this is completed then you need to gather yourself together ready to make an offer!

The Offer

choosing the perfect home

Unless you are very fortunate you aren’t going to find your perfect home right away. You may need to look around lots of them and keep going over your wants and needs. There will come a time however when you need to make a decision. The home will obviously have to be in your price range, and if it is you can make an offer!

The agent will help you with this also bringing all offers to the seller who will either accept it or make a counter offer! Be patient as this might involve going backwards and forwards a number of times before falling on the right deal.

So what happens next?

You will find a number of contract contingencies enabling buyers to cancel the contract without any penalty under certain conditions. Buyers will have 10 days to inspect the property for things like lead-based paint as a great many homes may have this if they were built before 1978. Make sure you are completely happy before getting ready to close.

happy couple after their home loan approved

The big sigh!

The big sigh will come freely once you’ve closed the deal and you’ve bought your first home. Closing of course transfers ownership between two parties.

The house will be recorded in the name of the buyer and the city or county will be told of the transaction, and record the buyer as the new owner!

Well done – you’ve just bought your first home – Good luck!

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