Jessica Andrade, Realtor
Path to Home Ownership
Purchasing a new home is a big step in anyone's life. If it is your first time buying a home, it can be exceptionally nervous time. When you feel that you are ready to buy a home, be prepared by following some simple steps:
1. Get pare-qualified. Contact a local bank or mortgage broker who can help you determine the amount of property you will be able to afford. When you meet with your financial institution of choice remember to take with you:
a. your last 2 federal tax returns;
b. your last 2 paycheck stubs;
c. your driver's license;
d. your social security card;
e. a list of assets and debts.
This information will help speed the process of pre-qualification.
2. Contact a local agent. A Buyer is not obligated to seek the help of a local real estate agent but talking with an agent may help sort through the market a bit quicker. Local agents are familiar with properties currently for sale and can help guide you in pricing and preparing for an offer.
3. Find your home. As I said, you can find your property by yourself but using a local agent can give you an edge on the current market.
4. Submit an offer. After you have found your home, submit an offer to the owner. Agents will have all of the necessary documents needed to submit an offer and can help work through possible issues that could arise throughout the closing process.
5. Closing. After an offer has been accepted, the contract will be deposited with a local title company. Normally, contracts are held in the title company for an average of 30 days to allow time for surveys, inspections, and other financial requirements or title requirements to be met.
6. Move in. After the closing day is set and all papers are signed......You have purchased a property. Congratulations.
While this process can be done individually, it is recommenced that you discuss your options with a Realtor who can guide you through the path to home ownership with ease.
Contact me and I will be happy to give you names and phone numbers of financial institutions that we have personally used and trust.