All the planning, house hunting and waiting are over. The final step in the home-buying process is closing on your new place. Before you get the keys for your new home and officially call it your own, you have one more sprint ahead of you: paperwork. When you know what to expect, the process won’t seem so overwhelming. All parties involved want your closing to be just what you imagined: a joyous occasion with little or no hiccups.
If you’ve been searching for your dream home, there’s nothing like the relief of finally being under contract. That’s something to celebrate. But now that you’re under contract, what should you expect? Your main task now is to work through the contingencies in the contract.
Once you’ve found the right home, it’s time to get serious! That means submitting an offer and signing a contract agreement with the sellers. Recently about one-third of homes nationwide sold in less than 30 days. Homebuyers are having a tough time simply making offers before their potential dream homes are snatched up by other buyers.
Though your search for homes may start online, it won’t end there. You can do a lot of research on your own. The National Association of Realtors reported that 68% of home buyers found the home they ended up buying on their phone last year, but once you find your perfect home, you will need the help of an expert when it comes to actually securing it. A buyer’s agent can help you navigate through the home-buying process. When it comes to making an offer, your agent will negotiate on your behalf so you don’t pay a penny more than you have to.
Are you ready to start looking at homes? At any one moment, buying a home can be: challenging, vulnerable, thrilling, terrifying, life-changing, savvy, collaborative, complicated, fun, overwhelming and immensely rewarding. Yup, it’s all that and then some.
The best way to buy a home is with cash. It may sound crazy, but people like you do it every day! If that’s not feasible for you, you’ll need a home mortgage loan. Looking to stand out from the buying crowd and land the perfect home? Instantly distance yourself with an underwritten letter of pre-approval.
It’s tempting to skip the money question and jump straight into looking at homes in your area. After all, home shopping is way more fun than thinking through your finances! But a weak financial foundation is a recipe for regret when it comes to your home purchase.
Kicking off with the last weeks of March, spring is the start of the homebuying season. With families often taking vacations in the late summer and fall occupied by the start of school, the months of April through July account for more than 40% of all housing transactions annually. And in today’s competitive market, you want to do everything you can to put yourself in the best position to find (and secure) your dream home. But don’t worry—here’s everything you need to know to prepare and hit the ground running:
