How to Buy a Home in Four Simple Steps
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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 is such a joy to work with!! She always make sure to get clients in touch with the best fit for them and doesn’t overextend herself. She referred me an investor client 3 years ago and that has blossomed into an excellent connection. Her dedication to delivering the best real estate buying or selling experience is unparalleled. Don’t hesitate to reach out to her …
-Derrick B., Colleague
Miriam is that rare breed of broker who brings passion and zeal for her Clients success in each transaction. She continually improves her professional education and Real-life experiences to keep her edge sharp. Highly recommend her witty and aggressive services!
-Dan B., Colleague
My husband and I worked with Miriam to sell and buy our home in the summer of 2014. While we had not seriously decided to sell and buy new, we met her at an open house on June 1 and on July 8, closed on both homes. She was able to make recommendations for a mortgage loan officer and handyman to assist with inspection follow through. She even drove to Greenwood to pick up …
-Laura E., Client
Miriam was extremely professional, honest and prompt. We always knew what was going on with the process. She went over and beyond to ensure the selling of our home. She truly advocated for us as the seller! We met Miriam while she was showing the house. We tried to sell the house by owner and after two months, decided to engage a realtor. Miriam made such an impression …
-Elizabeth K., Client
Miriam worked very hard getting all of the documents in order. She is pro-active answering the phone and answering the hard questions. She made the home buying experience go easily and smoothly!
-Chris J., Client