What are the Steps to Buying a Home?

Jeff Peterson
Jeff Peterson
Published on February 23, 2017

Buying a home is not something people do everyday.  Whether you are choosing to purchase your first home or are a repeat buyer, there are many things you will need to understand throughout the process.  Here are some helpful steps to making that buying a home for you and your family is a success.

1.  You Need a Realtor – Call Jeff Peterson! (682)888-2969

My name is Jeff Peterson and I have been a professional, licensed Realtor since 2004.  For the past several years, I have helped people just like you buy and sell real estate in every type possible.  From new home construction, listing and selling of homes, buying a home, acquisition of land, commercial buy and lease, and residential leases.  I’ve pretty much done it all and can absolutely help you!

Having a professional that is educated and experienced will help you throughout the process of buying a home or selling your current property.

2.  Get Pre-Approved from a Lender

Unless you are going to pay cash for a house, you will need to have a loan to purchase your property.  I am able to recommend some lenders that I have used in the past but you are free to use whomever you want.  One of the best I have seen is Jason Rasmusson with Supreme Lending.  You can find him here.  Make sure the interest rates are comparable and also understand the fees a lender will charge at closing.  Some of these are negotiable and I can help with that.

3.  Let’s Go Tour Some Properties!

Give me your wish list.  I need to know everything you could possibly want in your new home!  Is it a big backyard, entertaining kitchen, or 4 bedrooms in XYZ city, this is where you are going to live.  Also, make sure you include your needs or even better… your MUSTS! Let’s find the home you love!

Once you give me your wish list, I will do an extensive search to find properties that match your wants and needs.  We will then set up a day and time to go tour this properties.  This is where you will find the home you love.  One thing to note… a lot of properties will have families already living there.  When buying a home, picture your furniture in the space of each room rather than the existing furniture.  Remember, you can always change the wall colors, flooring, or anything else you want.  

4.  Paperwork…

Once you have found the perfect home, you and I will sit down and figure out our strategy for placing an offer to purchase the home.  I will guide you through this process by showing you comparables in the neighborhood and negotiating on your behalf.  This is where I really shine as I love the negotiating part!  Once our offer is approved – jump up and down and be excited but also know we are not at the finish line yet.  There are still more steps to buying a home.

While we are in the middle of negotiations, you will need to start the loan process with your lender.  I too will involved with this to ensure you are comfortable with the process.  This part of buying a home takes a little bit of time as you will need to send the lender a lot of paperwork such as bank statements, pay stubs, etc.

We will also need to get a home inspection to ensure the house doesn’t have any hidden defects.  I will arrange this for you and go over the inspection report with you.

Homeowners insurance will be necessary for your loan.  Shopping around is always a good idea but most of the time you can bundle this with your auto insurance and get a better rate.

5.  Closing

In Texas, closings will take place at a title company.  Throughout the process of buying a home, the title company, your lender, and myself will have many discussions regarding your purchase.  You can rest assured that while you are buying a home, there are a team of people dedicated to making sure that everything happens smoothing.

At closing, you will bring any paperwork that the title company or lender still needs, bring any require funds for closing, and your identification.  You will be signing several documents that ensure the current ownership of the home transfers to you.  At this point you will also be signing documents that state you will pay the monthly payment agreed upon by you and your lender when you first started the process of buying a home.

Once the signing is finished at the title company and the lender has recorded (legally transferred ownership) and then funded your loan (paid the seller) you will receive the keys to your new home!  Congratulations on buying a new home!! You did it!!

I have another blog that will be helpful during this time.  Please read the following to make sure you don’t forget these 6 things when buying a home.

I look forward to helping you find your new home.  Please give me a call when you are ready and I will be happy to help throughout the entire process of you buying a home!

 

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