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Buying a home and working out the details of the purchase is like connecting the dots. Once you have everything lined up, the actual home purchase will be a great deal less stressful then if no plans were made. Keeping that in mind, here is a basic to-do list for home buyers.  Remember, millions  and millions of people across this country have purchased homes before, you can do it too.

Step 1   Choose a real estate agent. Most people already know at least a half dozen agents already.  Don’t take this step lightly, if you plan on having a smooth home buying experience, you’ll be sharing your personal information with your agent. If you are considering an agent that you wouldn’t want to share that information with, that’s easy, just find a different agent. Don’t worry about paying the agent, in nearly every single home purchase, the buyer’s agent will be paid by the seller, that was already negotiated with the seller when they listed the property. There are a host of other considerations that your agent will be checking on, most likely without your having to ask. Things like the nice view out the back window, what might be built there in the future? Do the covenants allow you to park your work vehicle in the driveway? Will you be able to extend the driveway or build the fence you’ve been talking about? It’s best to mention those things to your agent but chances are, the terrific agent that you have selected has already been checking on them.

Step 2   Mortgage,  Your real estate agent can be very helpful in make recommendations with decisions in the financing process of your home purchase.  Your Real Estate Agent has helped numerous clients through this process, he/she will know at least a few reliable lenders to recommend.  Recommending a lender is the most important consideration for which to seek advice.  Your lender is the one person that can make all the difference in the world to your home purchase.  Your real estate agent has been down this road numerous times with other home buyers and can provide very valuable input in this area. Trust your REALTOR® There are very important issues to consider with lenders, like How available are they? For instance, will your lender freshen up your pre-approval letter if you need it at 5PM on Saturday evening?  There is a very good chance you will need that level of service in a hot market like Raleigh North Carolina. There are actually lenders out there that are just that committed to you loan. Your real estate agent would love to recommend one of them to you, it will make your home purchase much more successful and stress free.  That is exactly what your real estate wants for you.

Step 3   Choose the right house that meets your needs and your budget.  There are plenty of search methods to find a house. Don’t forget to involve your real estate agent. He/she probably has a tool available in the MLS that will alert you as soon as a house goes on the market that meets the parameters that your agent setup for you.  In a hot market, it may be  very important that you and your agent respond quickly to view and act on a home that is new on the market.

Step 4   Negotiate the purchase price. Your agent will work up a Comparative Market Analysis (CMA) so you will know what would be an appropriate price to pay for your selected home. It may be that the home is already appropriately priced, your agent will do some homework at this point and give some guidance on this.

Step 5   After settling on a home and arriving at an acceptable purchase price with the seller, you hopefully have an executed contract in hand. (signed by all sellers and buyers involved) A lot of things need happen at this point.  Your real estate agent will alert your lender that you have settled on a property by sending a copy of the contract. The lender begins the loan process and usually makes an appointment to have the property appraised right away. Your real estate agent will most likely send you a list of vendors to select services from. You will probably want a home inspection, survey, septic inspection, well water test, radon test and possibly several other inspectors, engineers or contractors, depending on the results of other inspections. Your real estate agent will have valuable advice for you each step of the way.

Step 6   By this time you have advance a long way in your home-buying journey, assuming that all went well with the inspections done in the step five, your lender will hopefully have completed the loan process and issued a “Cleared to Close” these are the words you have been waiting to hear. There may still be some adjustments to make concerning the closing time. The closing attorney will confirm the time available. BY this time there should only be minor adjustments to make in scheduling to satisfy everyone’s available. That’s usually not a problem, the buyers are usually the only ones that actually have to be there, the sellers can sign in advance.

Step 7   Congratulations! You’ve just bought your home.

Below is a list of Trusted, Reliable service providers that (after many transactions) I highly recommend. 

Rob Youncofski with Advantage Lending  

Kristoff Law Clayton North Carolina.  

Chris VanDeWalker REALTOR®

Clayton Real Estate Agent