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Buying a Home: How do I get started?

1. Meet with a lender and get pre-approved 

What You Need To Bring:

  • W-2's for the last 2 years 
  • Your last 2 pay stubs 
  • Your last 3 month's bank statements for checking and savings accounts and 401K/IRA statements 
  • Names, addresses, account numbers, and monthly payments on all loans. 
  • Advantages to being pre-approved:
    • you know what you can afford 
    • in the event there are multiple offers your offer should be considered more seriously than a buyer who is not pre-approved.

2.  Decide what type of home you want & the area you want to live in

Make A List:

  • Make a list of your minimum requirements such as number of bedrooms, lot size, etc.
  • Make a list of features you would like, but aren't necessarily required. 
  • Drive around and write down what areas you would consider. 

3. About representation 

Download the "Agency Relationship in Real Estate Transactions" Form at regionalrealty.com

4. Choose a Realtor 

A Realtor Can Save You Time and Assist You In House Hunting:

  • We have access to the MLS system which means we can view all companies listings on the computer and select the ones that meet your criteria.  
  • Your realtor will update you on a daily basis with information on new listings- by phone, fax, or email 
  • Your agent will schedule appointments to show you the properties. 
  • Your agent will handle the writing of offers and negotiations your agent will help you through the entire process-from finding the right property to the transfer of keys at closing.
  

5. Start viewing homes 

  • Your agent will educate you on prices and availability of homes in the area and make appointments to view the homes you are considering. 
  • Your agent will get answers to all your questions before writing an offer. 

6.  Make an offer

Choose the Home That Suits Your Needs:

  • Ask your agent questions on anything you don't understand.

7.  Have a home inspection?

Advantages of An Inspection:

  • A thorough home inspection gives you information about the overall condition of the home for your peace of mind.
  • The inspector also gives you ideas on how you can maintain and improve the home. 
  • An inspection costs on average $200 and needs to be paid by you at the time of the inspection.

8. The closing process

Your offer, your lender, the appraisal, the title company... 

  • Your agent will keep you up to date on the progress of the closing, helping you make a successful move.
  •  At the closing you will need a photo ID, a list of your last 10 years of residence, and a  cashiers check for any fees you have to pay (such as closing costs, down payment, etc.) 

 

Call Regional Realty at 888-879-6754 for more help — we will be happy to show you how...

WE GET THE JOB DONE!