Home Buying and Selling Process

BUYER SERVICES

THE HOME BUYING PROCESS
 

While the homebuying process can seem intimidating, once you know what to expect it is actually pretty simple. Knowing what to expect before you begin the process can lessen some of the anxiety associated with it for you, and can also educate you should any issues come up during the process.

Because we want to help you be successful in your home search, we’ve written this step-by-step guide to the home-buying process. Follow these steps to enter your home search prepared and ready to make an offer on your dream home.

 

Step 1: Check your Credit

Before even contacting a lender or an agent, it is smart to check your credit report to see what your options are. You can get one free credit report a year, and this will determine what the interest rate on your mortgage will be, along with what kind of loans you can apply for. A good rule of thumb is that a good credit score is 720 or above, while the minimum to secure a loan through FHA is 580 or over.

 

Step 2: Decide on a Budget

It is important to find out how much you are willing to pay. Make sure to include mortgage payments into your budgeting, because even if you qualify for an expensive house you will probably not want that high a payment for the long term. Doing things like using a mortgage affordability calculator and researching the housing market so that you can think of a concrete number that will be affordable for you.

 

Step 3: Find an Agent

It is very important that you trust your agent, because they will be your lifeline through the home buying process. Check reviews online or ask your friends and family for a referral, and make sure to ask a lot of questions and meet with a few candidates so you can find out your best fit.

 

Step 4: Get Pre-Approved

Getting pre-approved for a loan could make you more likely to get your offer accepted down the line. In pre-approval, a lender will pull your credit information and then give you a letter stating how much they would be willing to lend you. This gives the sellers some confidence in you because they know for sure that you will be able to afford their home. Take a look at standard home loan options here.

 

Step 5: Start Looking at Homes

By now, since you’ve done all of your financial prep and talked to an agent, you probably have a pretty good idea of what kind of house you would like and in what area. Your agent can also help you greatly here, as they will have a good knowledge of properties coming on the market and homes like the ones you are looking for.

 

Step 6: Make an Offer

Once you’ve found a home that you are excited about, your agent will help you decide on an offer based on the listing price of the property. Your agent will understand how to craft your offer, based on the current market, whether there will need to be contingencies, or whether you need an inspection.

 

Step 7: Home Inspection

This is an important day for negotiating, if your offer requires it. If the inspector finds any unseen defects, you can take them to the seller for bargaining power. Also, this is a good time to measure things in the house, because it is the last time you will be able to be inside before closing.

 

Step 8: Get Insurance and Utilities

If you have owned a home already, you will only have to call your insurance agent and let them know you’re buying a new home. But, if this is your first home, you will need to get homeowner’s insurance. Lenders require insurance, and it is a critical part of protecting your investment. You will also want to make sure you have utilities set up for your move-in date, because you will not want to arrive, ready to move in, only to find that you have no electricity.

 

Step 9: Close on Your Home

This is arguably the most important day in the process, and you will need your agent with you to help. At closing, you will read and sign all of the papers and policies that go along with officially owning your home, and you will want your agent there to make sure everything goes smoothly and that everything us how it should be for you.

 

Step 10: Move In!

You have officially reached the finish line by step 10! Your contract will specify the exact date that you can move in, and after that you can officially make your new house into a home.

SELLER SERVICES

The Selling Process

 

If you are selling your home, it can be difficult to know where to start. There are a lot of steps to follow even before you list your home for sale, and having getting advice or guidance from an agent is the best way to assure that everything goes smoothly. Maybe you aren’t even ready to consult an agent, and are simply considering selling your home and looking to learn more about the process. If that is the case, we’ve compiled this guide to selling your home from pre-listing to closing,

 

Before You List

 

There are a ton of preparations to do before you even list your home for sale to make sure that the selling process goes well and your home doesn’t linger on the market for too long. A few months before listing, it is important to do your homework. Research your local market to get an idea of what you should be listing your home for and to gauge interest. This is also the time to gather all your important documents, such as those for mortgage and insurance, and to add up the costs associated with selling your home.

After you have done your research and gathered all the important documents you will need, it is time to get your home ready to sell. Make sure to look at your home like a buyer would, and make any repairs that you have been putting off. This can include small cosmetic repairs like a new paint job or replacing light fixtures, but can expand to include new appliances. It is also important to make yourself aware of what you can’t fix, such as noise and traffic patterns, and be prepared to find a way to market your home around those problems.

After these steps have been handled, it is time to list your home.

Now is the time to meet with piper pacific group if you were planning on it, because we will help you with the trickier details. You will need to know what you want your listing price to be, how to list your home online and how to get professional photos taken. Then, you will work with the realtors to officially list your home and start scheduling open houses!

 

After You List

 

Once your home is on the market, the next step for you will come once a buyer is ready to make an offer. Our agent will also help negotiate through this process, and help you figure out what to consider. The best thing to do is to aim for a win-win agreement between you and the buyer, while keeping your bottom line in mind. There are also factors outside of just the numbers to consider, such as contingency and being able to set the closing date, but not to worry we handle all of this for you.

Once we negotiated a deal that both you and the buyer are satisfied with, it will be time to close. There will be a list of things to do before the actual closing day, including some of these:

 

Setting an inspection with the buyer’s home inspector


Working with the buyer’s appraiser
Provide documents to the buyer’s agent and lawyer and bank


Contact your lender to start your own mortgage payoff process


After these steps are all finished, it will be time to meet for closing day. You will need to bring a variety of forms to the closing day, and it is a good idea to also have your agent or your lawyer there with you as well to make sure all the negotiating and signing goes smoothly. Once the closing is completed and the many forms are signed, you can relax knowing you have officially sold your home!