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 You’ve decided you are ready to buy a home. Congratulations!
One of the keys to making the home buying process easier and more understandable is planning. Being well prepared, and knowing what to expect can make the experience much more enjoyable. Our 10 steps below can help you know what to expect through the process. You can also learn more about these steps, and about buying a home by visiting www.BlairMcEwen.com
 
10 Steps to Buying Your New Home
  1. Determine what you can afford. Since you probably won’t be paying cash for a new home, it’s important to determine what loan amount and monthly payment you can afford. By applying for a mortgage and becoming 'pre-qualified' before you begin looking for a home, you will be better prepared to search for properties that are a fit for your finances. Reviewing your credit, income and other information ahead of time will also allow you to identify and resolve any issues that may create hurdles to completing your home purchase. With so many loan options Team McEwen can help you find a mortgage company to fit your exact needs and we will help you get the most bang for your buck.
  2. Determine what you want. Selecting the right home may sound easy, but there are millions of new and existing homes sold each year. That’s a lot to choose from. The challenge is finding the property that best meets your needs. Make a list of the features and benefits you are looking for now, as well as your future needs. Our buyer specialist Berek McEwen can help you in the process or you can use our convenient Mobile Real Estate Search App to help you choose the right home for you and your family. For Our Mobile Search App Simply Text KW16AW4P to 87778.
  3. Find a Realtor not just a real estate agent. Buying and selling real estate is a complex matter. The maze of forms, contracts, inspections, marketing, pricing, and negotiating can certainly be daunting, but that’s what we are here for! The best part is when you select Team McEwen to help you through the buying process there is NO COST TO YOU, the seller will pay all our fees!  Consult with Team McEwen before you start the buying procees or visit us at www.BlairMcEwen.com to hear what our clients are saying about us.
  4. Find a house. Based on your needs and desired features, we will show you appropriate properties. Most likely you will look at several properties. To keep things straight in your mind, take along a camera and a notepad and make notes as to the features of each house and what you liked or disliked. You can also utilize our Home Evaluation Checklist.
    When you find a property you like, investigate it further. Check out the overall neighborhood, look into the area schools and amenities, and look up the prices of comparable listings to get an idea of the market. As Realtors we will help you with this information.
  5. Negotiate the price. When you've identified a house you want to buy, We will prepare an offer to purchase. This is the first step in negotiating. The offer will contain all the terms for purchasing, including price and contingencies – such as a successful home inspection and financing. If you want to bargain, you'll need to mentally prepare yourself to walk away from that house if you don't get your price. One way to accomplish this is to pick two houses that you like. Bid on the first one, and if that house goes to someone else, start bidding on the second one.
  6. Have the house inspected. Once your offer is accepted with the contingency of a home inspection, you'll call in an inspector. We can help recommend one. If the inspector identifies any undisclosed problems with the home, you'll be able to renegotiate with the seller to either lower the price or make the repairs. After the home inspection, visit your loan officer to formally finish the loan documents to be sent to underwriting.
  7. Finish The Financing. Your loan officer will walk you through the process of completing your mortgage loan. Depending on the loan terms you pre-qualified for, you may be asked for additional supporting documentation. This may include income verification (pay stubs, W2’s or tax returns), asset documentation (bank statements, etc.), identity information (Ssocial Security card or driver’s license), or credit documentation, among other things. Your loan officer will also order a real estate appraisal for you. The appraisal will include a full market analysis and market value of your selected home. The appraised value of the home will be the basis for your loan amount and loan terms.
  8. Purchase Homeowner’s Insurance. No one would drive a car without insurance, so it figures that no homeowner should be without homeowner’s insurance. This insurance provides you with protection against fire, theft, and liability, and is required by finance companies on all mortgaged properties. We can also help you find the insurance company that is right for you.
  9. Closing on your New Home. “Closing” is when all of the necessary paperwork needed to complete the transaction is signed. Closing is usually held at a Title Company office, sometimes with both the buyer and the seller at the same table. The result of the closing is the title to the property is transferred from the seller to you the buyer and after funding, the keys are yours!
  10. Move in and enjoy! You’ve done it! You’ve looked at properties, made an offer, obtained financing, and closed on your new home. The home is now yours, and it’s time to move in. You will also want to make sure you have acquired the needed utilities for your new home – items such as water and sewere, electricity, gas, etc.

The purchase of a home may be a lot of work, but you can relax knowing that Team McEwen with Keller Williams Realty is in the business of making happy homeowners!

You can contact Team McEwen with Keller Williams Realty at 214-415-7468 or 214-763-2315.

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