Buying a home for the first time can be a very nerve wrecking experience. Fortunately there are real estate agents that will be there to help you every step of the way. A good agent (like myself and my husband) will have all the tools you need to get you to the goal of owning a home. Being the awesome agent that I am (haha), I am going to break down how you should buy your first home step by step!
- Finding an Agent: This is the part where you call me or Mario to discuss the possibility of owning a home. We will go over things like, what are you looking for in a home, what area do you want to live in, or what is your budget. Talking
with a professional agent will help you to set clear goals of home owning. In the state of Virginia we use a buyer broker to solidify a relationship between buyer and agent. This contract is important because it lays out all the expectations of the buyer and all the expectations of the agent.
2. Financing: I ALWAYS recommend that my clients get pre approved before they even start looking at homes. This allows the buyer to know exactly how much house they can afford and what it may cost them to get into a home. My firm uses United Atlantic Mortgage as a preferred lender. Sandra has the ability to produce a pre-approval letter within 24 hours of a 10 minute phone conversation. That is AWESOME because the way the Hampton Roads market is moving, the sooner you have results about financing, the sooner you can pick out your home!
3. House Hunting: My husband and I like to show houses like that T.V show House Hunters one HGTV. We send you a link to our website where you can save as many houses as you can, then we set up all the homes that are available (because homes are flying off the marker right now). When we go show homes, we see as many as possible and then we ask the buyer to pick out their top three homes. Once the buyer decides what home is number one, that’s when we will write an offer.
4. Writing an offer: Once you fall in love with a home we will then prepare all the documents to submit your offer to the seller. This part of the process makes some buyers a bit nervous because there is a lot of paper work to sign with a lot of words on it (haha!). If you have trouble understanding the contract, you can ask Mario or me, and we will gladly answer any questions you may have.
5. Ratification/Home Inspection: This is the exciting part! When the buyer and the seller come to a mutual agreement then the contract is then ratified. It is so very important that you get a home inspection before you purchase a home. I always recommend that you get a professional inspection (not your cousin ray ray that does handy work from time to time!). The home inspection is for your information, and it keeps you safe, while also allowing you the opportunity to walk away from the transaction if the home is just too much work or just isn’t up to your standards.
6. Mortgage: So once you decide that the home is everything you dreamed of, your inspection came back great and you are happy with your choice. Sandra will begin working on getting the money for your home. She will order the bank appraisal, and send you documents to sign so that she can set up your mortgage. Sandra works really fast, and she closes on time in most transactions that aren’t bank repo’s or properties that have unique situations going on.
7. CLOSING DAY: This is the moment that we have all worked towards! When you close on your home you will usually sit in a very swanky board room with us and an attorney. There you will sign all of the final copies of your paper work. The Attorney will go ever all of the papers that you are signing. I see the looks on buyers faces all the time, when the attorney comes in with that big folder and plops it down on the desk! I promise it’s not as bad as it looks! Once you sign all of your papers and shake hands with the attorney we will then hand over your keys! CONGRATULATIONS YOU ARE A HOMEOWNER!
Buying a home doesn’t have to be a scary experience, as long as you have a team like the one that we have already assembled for you at Blu Skyy Realty. We have you covered from your mortgage to your home owners insurance. Even if you don’t roll with the Blu Skyy team to buy your home, this blog can serve as a guide to make sure your agent is covering all basis to get you into the home of your dreams! I have provided my personal information in the about section of my blog if you have any questions about home owning, or if you are ready to get the process started! My husband and I would love to work for you!