If you’re thinking of buying (or buying again) this post is for you!
For many, this process can feel overwhelming, even for the experienced buyer! The good news though…. it doesn’t have to be!
Before Purchasing Your Home
1. Find a Good Realtor® That You Trust
This may seem obvious, but this is vital in making sure that you walk through the buying process with as little stress as possible. Look for someone who not only has proven experience but someone you can trust.
Seek out referrals and read through testimonials of agents you are considering. If you don’t have anyone in mind to work with already - The Sall Team would love to meet with you and see if we are a good fit for you! We would also recommend visiting sallteam.com/buying to learn a bit more about how we help our buyers.
2. Get Pre-Approved with a Local Lender
Having a pre-approval before you start shopping is critical in a competitive market. It will help you get your offer accepted and make it less stressful once you go under contract. It also gives the lender the ability to process your loan more quickly and get you to the closing table faster!
If you are not already working with a lender to get a pre-approval prior to meeting with your Realtor®, it will definitely be your next step. Most Realtors® have a list of lenders to consider if you need some help finding a great one.
It is always a good idea to use a local lender who knows the ins and outs of our local market and has a positive reputation for getting things done. This will help the seller to feel more confident in the legitimacy of your lending.
3. Create Your “Wish” List + Possible Compromises
Making the wish list is the easy part for most, while narrowing that list down to what fits in the budget can be somewhat difficult.
Take a few minutes to look at what you hope to get in your future new home. We recommend categorizing them into 3 things: (1) things you absolutely need to have, (2) things you would like to have and (3) things you can live without. Doing this will keep your search focused and get into your home faster.
The Sall Team always encourages a Buyer Consultation where we sit down with you to talk about what you are looking for in your dream home and the entire home buying process.
4. Research & Consider the Market Conditions
This is where having a good Realtor® who is well-versed in their market is beyond valuable. They can give you a good idea of what the market conditions look like at that time and how that will impact the process.
Make sure to spend some time on your own as well, getting familiar with the price range of the types of homes you are looking for and how that fits with your list mentioned above.
5. Enjoy the Search
The home buying process can feel exciting, overwhelming, exhausting or all of the above and all at the same time. Like everything else, it’s a journey.
Working with Realtors® like The Sall Team, you can enjoy the process while we help you navigate the ups, downs, and in-betweens of the home search.
6. It’s Offer Time!
Having experienced Realtors® like The Sall Team on your side will prove invaluable here. We will work with you to look through comparable sales and find out any information we can to make sure you are able to write the most competitive and thorough offer, giving you the best chance at snagging the home of your dreams.
Under Contract! Now What?
1. Deadlines Galore!
Now starts the process of all things deadlines and paperwork. You’ll be working hand in hand with a few people to make sure everything gets done the way it needs to be.
Don’t worry though, if you are working with The Sall Team, we have a process that makes this as smooth as possible. This means you don’t have to be overwhelmed by all of the upcoming deadlines.
Some example deadlines include scheduling inspections, reviewing title work, calling insurance, and if getting a loan, working with your lender to make sure all paperwork is completed for the mortgage process (see more on this below).
Your Realtor® should be your point person and help you navigate this whole process while keeping you on track to meet all your deadlines.
2. Lending
Get your paperwork into the lender as quickly as possible. And don’t be surprised if they come back and ask for more details. It’s part of the process.
Just make sure to stay in constant communication with your lender and respond with the details they request quickly and timely.
The initial paperwork you will want to have available is:
Photo ID and Social Security Card
The last 2 years of Federal Tax Income Returns
Two years (or more if you have switched employment during that time) of W2’s
30-60 days of bank statements
30-60 days worth of pay stubs
Proof of any other income
Details on any debt you carry
Last note here. Don’t make any out-of-the-ordinary deposits or withdraws and DO NOT take on any extra debt during the home-buying process. This can cause delays or the inability to secure the home loan.
3. Come To Closing With A Smile!
You made it! And we hope you enjoyed the process. We know it can be overwhelming but that is why we are here. The Sall Team’s goal is to make sure you enjoy the amazing (and FUN) process of purchasing a home.
If you want to learn more about who we are and how we can help you find your dream home, check us out at the link here: sallteam.com/meet-the-team
If you are ready to step into homeownership (or looking to move from one house to the next) we’d love the chance to meet you and see if we are a good fit to help you. You can schedule a buyer consultation or even a coffee chat to get to know us better at the link here: sallteam.com/contact
