How to Buy a Home in Four Simple Steps
Step One: Get Pre-Approved
- You need to know how much home you can afford and what kind of down-payment savings you need to have to make an offer.
- Remember: your competition will most certainly be pre-approved--and in today's market, you must have that competitive advantage.
- To a seller, there is little difference between a pre-approval and a cash buyer. If cash is king, then pre-approval is queen.
- Give your pre-approval letter to your broker so it can be uploaded into your file.
Step Two: Find a Broker
- Find a seasoned real estate broker.
- Ask them how long they've been in the business, how many clients they've represented and how established they are in the community.
- Remember: you will pay for a realtor even if you don't use one. A buyer's agent's commission generally comes from the sale of the house--not your pocket--so doesn't it make sense to have representation in the biggest purchase of your life?
Step Three: Start Touring Homes
- Start your search online and narrow down your criteria. Get clear on all the features you are looking for and consider your must-haves, could-haves and nice-to-haves.
- Pick your Top 10 Favorites (so exciting!) and ask your broker to schedule a private tour to see them.
- Let the fun begin!
Step Four: Make an Offer
- Once you have selected your home, your broker will make an offer to the sellers. There may be some back and forth (or there may not be) to find terms agreeable for both buyer and seller.
- Once your offer is accepted, you will be asked to give an earnest money deposit to show the sellers you are serious in the purchase of their home.
- You will need to schedule a home inspection from a reputable home inspection company.
- Your lender will ask you to obtain a homeowner's policy from your insurance agent and you will also have to pay for an appraisal. If paying cash, it is HIGHLY recommended that you still obtain homeowner's insurance and an appraisal.
- Your broker will start title work, which is done to ensure that the title is free from any liens or encumbrances against the property when it is passed on from Seller to Buyer. The process takes about 30 to 45 days to complete.
- Once your mortgage is approved through your lender's underwriter and/or the title report comes back as "clear", all parties close the transaction. This can be done at the title company, broker's office, etc.
What Our Clients Say
Miriam made the process as a first time homebuyer so easy! Absolutely would recommend
-Danielle H., Client
I was very impressed with Miriam's professionalism. Starting with the staging of the home, communication throughout the process, and finally meeting in person at the closing, everything was great. It was clear that she was doing a good job for her clients, and that she cared about them. Congratulations!
-Gadi B., Colleague
Miriam made selling our home so easy and removed all the stress from us. She was always available to answer questions and provide expertise and advice. She guided us through the entire process with ease, patience, and calm so we could focus on packing and making moving arrangements. If you want to sell or buy a home while remaining stress free, then call Miriam.
-Tech Whiz, Client
Miriam has helped me buy and sell multiple properties in the Indianapolis area. We just completed another sale where I received maximum value for my home, thanks to Miriam's efforts to stage the home, research the neighborhood, write an outstanding description, and then help evaluate the 14 offers to find the true best offer. She provides excellent service in a …
-Marcia A., Client
Miriam was great! I really needed help in a time of need and I am pretty much clueless on this stuff. She helped me find a place to live that is way better than I thought I could afford. And she took the time to help me find a place that would work for me and my needs. Smart, intuitive and empathetic, I would recommend Miriam Odegard to anyone who wants someone who …
-Paul C., Client
