Steps for Buying a Home - My Guide for a Smooth Transaction

Steps for Buying a Home - My Guide for a Smooth Transaction
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    If you're a first-time homebuyer Or maybe it's been a while since you've gone through the process of buying a home Then you might be a little intimidated or unsure of what to expect but first Did you know that hiring me as your buyer's agent doesn't cost you any money for Commission? You heard that right! You do not pay a commission when hiring me as your buyer's agent I'm Leslie Martin and in this episode of Wednesday wisdom, I want to share with you the steps You will take as my client when buying a house After you hire me as your buyer's agent you would need to get a pre-approval from your lender This is an important step to start the process because you will need a pre-approval in order to make an offer when you finally find your dream home. If You wait to get it until after you found a home, you'll most likely miss out. You'll want to be ready to submit an offer as soon as you find the one. Once we find the one I'll draft off the offer to purchase. We will go over the details You will sign it and I will submit it to the listing agent to present to the seller. After The offer is accepted by the seller, you will bottom line the contract This is the final signature required to make the contract legally binding. All of my contracts are written with a contingency plan in place for a successful home inspection This is to protect you from buying a home that will need extensive work You have ten days from the seller's acceptance call the due diligence period to schedule and complete a home inspection You should include a radon test and a sewer scope as well If the property has a pool or spa I strongly suggest having a pool company perform an inspection as well You'll want to budget about $1,000 for all of these. If There are issues detected from the inspections. We can either to negotiate with the seller or completely back out of the deal. If there are no red flags during this due diligence period we remove the contingency for the satisfactory home inspection from the purchase agreement and move forward to the next step. If Moving forward you will notify your lender that you're ready for the appraisal. The mortgage company has a pool of appraisers they use for a third-party unbiased opinion on the value of the property. This is paid directly to the lender and it typically costs about four hundred and fifty dollars. It usually takes about five business days for the report to come back. If It comes back at value Then the loan moves on to underwriting. If the appraisal comes back below the offer price then-- in some cases-- This becomes the new purchase price. And in other cases the listing agent can challenge the appraisal. This whole process can take about 30 days for a conventional loan. Once the lender gives the clear to close we schedule the closing. Once the closing date is scheduled you would arrive at the designated location, sign all the paperwork, and keys are exchanged. Remember, as your agent, I am with you from start to finish. I'm on your side making sure every part of the transaction works in your favor. I'm also always available to answer any questions or concerns that may come up along the way. I get it This is the biggest purchase of your life. That's why you need me on your side. Thanks for taking the time to watch this all the way through. If you have any questions about the buying process, please contact me. I'm always available for free advice. I'm Leslie Martin, and I'll see you next Wednesday!
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