Buyers Guide
REFINED LIVING
BUYER'S GUIDE
Claim the residence of your dreams. Allow our guide to enlighten you on the crucial details involved in the home-buying process.
OWN YOUR
DREAM HOME
Jot down all your criteria for the ideal home! This guide will serve as a reference as we assist you in discovering your dream residence.
FINDING THE
PERFECT AGENT
Selecting the appropriate real estate agent is a crucial aspect of the home buying journey. Let’s explore how a buyer’s agent can assist you throughout the process.
- Works and negotiates on YOUR behalf, prioritizing your interests over the seller's
- Has access to properties that are not listed on syndicated sites like Zillow and Trulia.
- Can schedule property tours on your behalf, at days and times that suit your schedule.
- Navigates legal contracts to ensure you are well taken care of, preventing any exploitation, when purchasing a home
- Stays informed about constantly evolving local and federal laws relevant to the home-buying process.
- Assists you in negotiating the best price and terms, ensuring you don't overpay for your home.
- Buyer's agents do not collect commission from you; it is already negotiated with the seller's agent and seller. Hiring a professional comes with no out-of-pocket costs for you.
CHOOSING THE
RIGHT LOAN
The mortgage industry is not one-size-fits-all. There are various loan programs available to cater to your needs and purchasing power.
- FHA Loans - 3% Down
- Conventional - 5% Down
- USDA - 0% Down
- VA - 0% Down
- Private Lenders - 0% to 50% down.
Most traditional banks typically require a credit score of 640 along with a 2-year work history. However, some local lenders may offer the opportunity to purchase a home with a credit score as low as 580, provided that other application details meet the specified requirements.
BUYING
VS. RENTING
Have you noticed the significant growth in rental rates in your market? It may be the right time to consider purchasing a home instead of renting.
With a thriving housing market and a robust economic environment, rental rates have been escalating at an alarming pace. This makes purchasing a home more sensible than renting in our current market conditions. With low mortgage rates, monthly payments on your own home can be considerably cheaper than renting. Homeownership also comes with the bonus of equity, personal space that you can decorate and renovate without limitations, no restrictions on having pets, and the potential to net more money from your home when you choose to sell in a strong market.
While interest rates are at an all-time low, today’s market conditions create the perfect time to consider purchasing. If you wait too long, increasing interest rates can make a significant difference in your monthly payment by hundreds or thousands of dollars.
BUYING FROM
A TO Z
The home-buying process can be simplified with the assistance of your real estate agent.
Step 1:
There is a process to buying a home that can be streamlined with the assistance of your real estate agent.
Step 2:
They will connect you with a lender to help you get preapproved for a mortgage.
Step 3:
You will go over the details of the perfect house, and your agent will assess the market for availability.
Step 4:
She will then arrange property tours until you find the right one.
Step 5:
Once you’ve found your dream house, your agent will discuss property details with you and help you place a solid offer.
Step 6:
After an offer is accepted, you will enter a 30-45 day contract period, during which your lender will work to secure the full loan.
Step 7:
During this transaction period, home inspections and appraisals are conducted.
Step 8:
Your agent can then collaborate with you to negotiate repair requests for items you’d prefer the seller to take care of.
Step 9:
If all conditions have been met for your mortgage approval and all parties have agreed to negotiations, then you get to make your way to the closing table.
Step 10:
After the final purchase contract has been signed at the title company, you get to move into your dream home!
READY, SET, MOVE
As your move-in date approaches, make sure to gather the necessary information for the home to ensure a smooth transition.he home to make your transition as smooth as possible.
