A Real Estate Professional Helps You Separate Fact from FictionIf you’re following the news, chances are you’ve seen or heard some headlines about the housing market that don’t
The Home Buying Process- Channler Gannon
Dated: April 18 2022
Purchasing a home can require a heavy amount of time and effort. These steps can help make the process manageable and ensure you make the best decision possible.
1. Start Your Research: As soon as possible, start looking at homes that you are interested in. You can find them in magazines, newspapers, and on the internet. Take note of how long the house stays on the market as well as changes in asking prices. This willgive you a sense of the housing trends in the area you are looking.
2. Get Prequalified For Your Mortgage: Lenders typically recommend looking for homes that cost no more than three to five times the annual household income if planning to make a 20% downpayment. Your lender will review all your financial information and tell you the price range of houses you can afford.
3. Find a Real Estate Agent: That's where I come in! I can help provide information on a wide range of homes and neighborhoods. The buying process can be a bit scary for first-time home buyers. I know the whole process and can help guide you through all of it, Best of all, it's free! The commission is always paid by the seller of the home!
4. Shop For Your Home and Make an Offer: Start touring homes you are interested in. Be sure and take notes of all the homes you visit. You will look at a lot of properties, and it can be hard to remember every detail of every house. Take your time in finding the home for you. Then work with me to negotiate a fair offer based on the value of comparable homes in the neighborhood.
5. Get A Home Inspection: Both the buyer and seller will receive a report on the home inspector's findings. At this time you can decide if you want to ask the seller to fix anything on the property before the sale. Before closing, you will have a final walk-through to confirm the agreed-upon repairs have been made.
6. Have the Home Appraised: Your lender will arrange for an appraiser to estimate the value of the house you are buying. The appraisal will let both parties know that you are paying a fair price for the home.
7. Coordinate the Paperwork: As you can imagine, there is a lot of paperwork involved in the home buying process. A title company will handle all of this paperwork and ensure that the seller is the rightful owner of the house you are buying.
8. Close the Sale: At closing, you will sign the paperwork that is required for the purchase of the home, including loan documents. Once the check is delivered to the seller, you are ready to move into your new home!
Purchasing a new home involves a lot of moving parts and complex steps. You can navigate the process smoothly by doing your homework ahead of time. You will have more confidence in your decision and LOVE getting those house keys on closing day!
Raised in Ozark, MO, Channler knows the ins and outs of the Greater Ozarks area. Coming from the new construction and rehab field he has a vast knowledge of homes and a team of contractors and trades ....