Here are some buyer questions that will make your path to buying a home easier.
Buying a home can be a daunting process no doubt. But finding the right agent will make the process less stressful on you. Our job as agents is to assist you in every step!
What Should My First Step Be?
When in the market for buying a home, the very first thing you’ll want to do is get pre-approved for a mortgage loan. In a market this competitive, submitting a winning offer without pre-approval will be exceptionally difficult if not impossible. Hot homes and buyers with deep pockets are what you’re up against on your path to a new place. Our best advice in this regard is to get in touch with a reputable mortgage group or advisor and see how they can help!
How Does Earnest Money Work?
Not unlike securing a rental the way you did in college by making a deposit, earnest money is a sure hold. It is a way of demonstrating to the seller that your intent is legitimate. Usually the best way to go about dealing with earnest money is to use cash or check, which your agent will communicate to you. Though it can vary, earnest money is usually 1-2% of the agreed upon price and benefits the buyer by essentially taking the property off the market.
Should I Waive an Inspection?
In a normal market, an inspection is something that should absolutely be conducted. However, homes have recently been flying off the market with everything being waived. Regardless, a home inspection is one of the most important steps when buying a house. When an inspector with a trained eye shows up, they will assess the current state of a house and can catch many issues. As we start to see things cool off, we still recommend an inspection.
What Are Monthly Costs After Buying A Home?
A soon-to-be mortgage payment may not be the only thing to think about when it comes to monthly payments. If you’re a first time buyer, there may be more costs to consider. Certain areas can acquire hefty utilities, HOAs, or property taxes. There is also homeowners insurance to think about. But rest assured, your realtor will help you assess your finances and factor in these variables. They will determine those impacts on your overall affordability.
What Should I Bring to Closing?
Closing on a home is the biggest step in the process. This is the part where you will sign lots of paperwork with tons of legal jargon. But once you finish signing your autograph, the keys are yours! An agent will help you with scheduling your appointments, brief you on who will be there, and what items you need to seal the deal. This usually looks like a photo ID, proof of insurance, and a few more items.
Finding the right agent will set you up for success. They are your guide throughout the entire home buying process! Asking the right buyer questions will help make your purchase as smooth as possible and we’re always here to answer them.
Posted July 14, 2022