10 steps toward your new home
10 Steps toward your new home
It is always easier to break down getting from needing/wanting a home to home ownership into easy steps. At Pink Pearl Real Estate we try to make home buying easy and informative. If you are a do it yourself kind of person our web site is filled with all of the information you need. We have checklists , advice, contacts for professionals, even a free search engine for finding homes in the Hampton roads area; Chesapeake, Norfolk, Portsmouth, Suffolk, and Virginia Beach. Here are the 10 steps:
10 Steps to buying a home
Step 1 Decision to Buy:
As you come to your decision to buy a home hopefully you made your own pro and con sheet about buying versus renting. If not we can help you in this decision process. The next thing is once you decide to buy what is your timeline. If it is immediate lets hope the following steps can be done quickly.
Step 2 Where to buy:
You need to decide what city you would like to live in; that opens up the internal questions of near water?: near Shopping?: Near Schools?: Near work?: and the list goes on to every aspect of your lifestyle.
Step 3 Financial strategy and state of your finances:
In other words how much do you think you can afford in a house payment. In an area like Hampton roads each city in the area has a mean range of house costs and of course features.
Step 4 How to prepare for buying:
Are your finances perfect for buying or do you need time to prepare? This is where a pre-approval from a lender comes in handy. Maybe you need to remove a little debt; do some credit repair; or just need to accumulate a little savings. Maybe, you are just ready to start your search.
Step 5 How to find your home:
You could get a real estate professional involved and they can help you set up your criteria with a free consultation, you can try to find a web site with homes to look at ours is free and lets you input your own criteria, or you could get a real estate agent to set up an automatic search that will send you emails with homes that meet your criteria. Then you will have to set a home viewing with a professional to get you inside to home for sale.
Step 6 Agent or Do it Yourself:
You need to determine why you need an agent or if you can do it on your own there are websites that offer searches for free, but they do not let you know if the house is still on the market, they usually don’t give you a phone number either. You could search for sale by owner places only and call the owners direct, which leads to the next step.
Step 7 Making an offer:
Once you find a home you like in your price range you have to make an offer to buy through a state approved offer document that is a binding contract.
Step 8 Contracts and Negotiations:
Next you have to ensure that all the details of the sale are spelled out in a contract that is binding to both the buyer and the seller. The contract/offer ( free sample contract) is usually followed by some negotiations most often in older home purchases some repairs are necessary and you can negotiate to have some of them made before you move in. Negotiations are best left up to professionals.
Step 9 Closing:
Once you have completed the negotiations you need to find someone to search the Title for deficiencies, and legal experts to document the actual sale or exchange of funds for a Title/deed and register it properly with the City. You can choose a Title company or a legal firm to accomplish this step for you.
Step 10 Moving in:
Right after closing you do your final walkthrough to ensure that everything agreed to in the contract is as it should be, you get the keys and can start moving in. Congratulations you just completed the 10 steps to your new home.
Pink Pearl Real Estate offers a free buyers booklet which includes checklists and more information or order your free consultation. We would love to help you find your home and help you navigate the complicated paperwork of purchasing that new home.