Guest Blog Contributed by Chamber Member Beltran Properties Group

Ready to Buy a Home?

House hunting can be very fun! And yet the process can get confusing and overwhelming at times. Hiring and working with a strong real estate agent is the best way to ensure a smooth home-buying experience. Since I meet a lot of people in the beginning stages of their house hunting, often at open houses, it becomes second nature for me to recognize the signs of those who may need guidance.

Here’s a short list of expectations to keep front of mind through your home-purchase process.

Get Pre-Approved: As exciting as looking at new homes may be, taking a step back and speaking with a lender should be the first step before actually touring with an agent. This will answer: “How much should I put down?” and “How much per month will I be spending?” Your lender is a great resource for information about how to avoid pitfalls that buyers may encounter, like opening new lines of credit or buying big-ticket items. Getting a letter of pre-approval before making an offer will give you and your agent more confidence when touring homes, and eliminates any wait time when you do find the perfect home, giving you an immediate advantage in the home-buying process.

Find the Right Home: Once you’ve found the perfect home, have your pre-approval letter, and are ready to put pen to paper (or DocuSign electronically), your agent will prepare the offer stating the conditions of your purchase. Review and approve this document, using the agent for support and further explanation. Once the offer is accepted, the fun and timelines begin!

Follow the Timelines:

-Earnest Money due within the agreed upon time agreed per your offer, typically 3 days.

-Seller sends the property disclosures, highlighting any issues known to the home under their ownership.

-Inspections scheduled ASAP, a standard inspection period is 10 business days, this is the time to get the home inspected and negotiate any repairs or different monetary terms.

-The lender receives instructions from the buyer to order and schedule the property appraisal.

-Title and escrow get in touch with the buyer, sending paperwork to review. This includes tax history with all previous owners and the current owner’s potential liens.

-Home appraisal is completed; if the home is valued at the contracted price or above, then all moves forward, if not, then new negotiations are opened up to give both buyer and seller an opportunity to come to new, agreeable terms.

-Title makes contact with the buyer to schedule signing, usually 1 or 2 days before the day of closing.

-Day of closing, the title informs all parties the county has recorded the new deed and the home is ready to be handed over to the new owners

-Your agent meets you for your keys at your new home and joins in your celebration!

Let’s Get Started! Are you looking for a dedicated expert to guide you through your home-buying process? Call an agent at Beltran Properties Group and we will happily walk you through each of these steps. Call 503-502-3330 today!