Buying a home is one of the most exciting milestones of your life. To prepare yourself for this
moment, you need to know what to expect during the process. This step-by-step first time
buyer's guide created by your agent will help reduce the stress of buying a home and help you
enjoy the journey as much as possible.
Do you already know where you want to buy? If you want a condo, townhome, or single-family
home? Which features do you like and dislike? What's available on the market now? If you
answered no to any of these questions, now is the time to start researching. In addition to
looking for homes that interest you, also take note of the housing market in your areas of
interest.
Notice I said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to talk with a lender sooner than later and take into account your weekly and monthly budget. What you spend each month will affect how comfortable you are with your mortgage payment. You do not want to be ‘House Poor’.
Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home. Your prequalifying letter is part of your offer in the State of Oklahoma.
Talk with your friends, family, coworkers, the person you meet at the dog park. Ask the question, ‘Do you know a real estate agent’? Most likely the answer will be yes.
Not only will I help identify properties you might be interested in, arrange showings, and ultimately handle the offer process and the inspection procedure, I also have knowledge of the market. At LW Realty Group, we will provide you with open, honest and expert guidance. Our goal is to take the stress off the table.
Our goal is to provide you with the most personalized service that is designed to help you buy your dream home
This is fun! I will arrange showings of homes you're interested in that are within your price
range. Take notes about what you like and don't like, and make sure to pay attention to details. I
will encourage you to explore your commute time, grocery stores, other shopping favorites as
well as schools and universities whatever is important to you, is important to me as well.
When you have selected the perfect home, I will write you an offer for the home. Together we will have reviewed the value of comparable homes on the market and make a decision about the offer price. Once the offer is submitted, the seller may decide to submit a counter offer. Together we will discuss until an agreement is reached.
In most cases, your offer will be contingent on having the home inspected to ensure there is no major structural damage or large repairs needed. I can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, that is great news. However, sometimes repairs need to be made. We will go through this process together also.
Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you. It is exciting to tell a lender that you have found a home.
You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with.
Your lender will have your new home appraised. The appraisal is to ensure that all parties involved are paying a fair price for the house.
Remember, you are buying a new home! And with that comes lots of paperwork.
Fortunately, everything will be arranged by your lender and the title company. I will also be . right by your side, all the way to the end.
The title company is a wonderful place! After signing the final paperwork to complete the purchase, all parties to the contract fund and you are now the owner of a new house.
We pride ourselves in providing personalized solutions that bring our clients closer to their dream properties and enhance their long-term wealth.
