Buying a new home is an exciting process, but there are many steps that are involved for a transaction to successfully close. I have prepared a list of steps below for you to follow so that you can be best prepared for the event. Take these steps into consideration to help make the process go smoothly.
Each area offers different amenities, culture and services so do your homework and research which areas are best for you. Consider things like proximity to the horse show, airports and your work commute as well as prices of the homes and farms that are accommodating for your needs. I can also help guide you and find the right areas to focus on based on my years of experience and extensive area knowledge.
Entry into a Purchase and Sale Agreement, often called “P & S.” This agreement identifies all terms of your offer including all important dates and will be accompanied with your down payment funds. the next step is to schedule a home inspection. You may have further steps for financial approval, but this will be the next big step until your walk through followed your actual closing.
Ordering a home inspection is a good idea for having a better understanding of what your potential new home may need in repairs. Not only does an expert inspector know exactly what to look for with regard to current conditions, but this information can assist you best in budgeting for larger future expenses. If any extensive repairs are needed, this can sometimes be grounds for further negotiation with the seller.
Limit Your Spending:
A crucial part of planning to buy real estate is to save your money. You will need to have enough funds for your down payment, closing costs and other miscellaneous incidentals during the process. A closing agent or your attorney can give you a good faith estimate of what costs to expect depending on your situation.