1. Decide if you are you going to be in the area for an extended time.
2. Can you afford to buy? Remember… If you are paying rent, you are probably making the owners mortgage payment now.
3. Talk with a bank loan officer or a mortgage broker. It doesn’t hurt at all to see if you qualify. If you don’t qualify now, they can help you find the things that need to be cleared up on your credit report, so you can become a homeowner.
4. When you know what price house or condo you qualify for, it’s time to contact a real estate agent. The agent will ask you to sign a Buyers Agency form. This form verifies that you are working with this specific agent to find a home. The agent you select is able to show you any property that is on the market… Not just their listings. Be sure to find an agent that is familiar with the area. Ask friends or family for recommendations.
5. In most cases, buyers don’t pay the real estate agent. They are usually paid from the seller’s side of the transaction.
6. Be sure to tell your agent detailed information about the type home you are looking for.
7. The market is “Hot” at this time. Be ready to proceed when you find what you are looking for.
8. You have now found your dream home. The agent will have you sign a few forms; an Agreement to Buy (the contract) and a Sellers Disclosure Form. This is used by the seller to inform you about any known problems with the property and other information. If you have questions, don’t sign until you are comfortable with all of the answers.
9. You will probably be asked to write a check for the “Earnest Money” Deposit. This check will be deposited when both parties agree to the price and terms of the sales contract.
10. Now you will need to decide on a closing attorney to represent you with the purchase.
11. The property will probably have two inspections; one will be the home inspection. This inspector is looking for any defects on the inside or outside of the property. The next inspection is a CL-100. This inspection is used to find termites or other fungal types of problems.
12. At this point, inspections are complete, your attorney has finished their work and you are ready to sign a “million” closing documents.
13. Call the mover… YOU ARE NOW A HOME OWNER !!!! CONGRATULATIONS !!!!!