The path toward homeownership can be a long and winding road, but when you understand the process and work with a trusted realtor, it can be less daunting when getting started. By thoroughly understanding each step of the process, homebuyers like you can avoid obstacles, eliminate uncertainty, and experience the excitement of finding a house to call their own.
Learn more about the eight steps of the home-buying process, and prepare yourself accordingly for an exciting purchase ahead!
Step 1: Find your trusted real estate agent
Starting your home-buying journey with a real estate agent you trust and enjoy working with is essential in a smooth home buying process. With expertise in the real estate market and home buying process, an agent should be your trusted source of information to help you make decisions and understand everything that’s happening each step of the way. There are countless brokerages and agents to choose from, so the challenge isn’t just finding an agent but finding the right agent for you.
For those in the Central Pennsylvania area, the team at Matt Weaver Group would love to help you in your journey.
Step 2: Get Pre-qualified for your purchase
Once you find your agent, the next step is to get pre-qualified for a mortgage. And your agent can help you with this process. Pre-qualification for a loan provides insight into how much you can afford and where to start looking in terms of budget. Knowing what you can afford ensures you don’t fall in love with a home outside of your realistic budget and know how much wiggle room you have when it comes to the negotiation process.
Step 3: Begin your home search
After determining your budget, it’s time to begin searching for the right homes. Be realistic by identifying your wants versus your needs before starting your search. Your wants are nice to have and your needs should be requirements when making your purchase. To help you find the home of your dreams, talk with your realtor about budget, nonnegotiables, and more.
Step 4: Put in an offer
Your agent will prepare to make an offer based on the price and terms you choose once you find a home you love. Many realtors will recommend you Include an offer letter to help distinguish you from other candidates and make your offer more personal. Try to speak to the seller’s emotional appeal and let them know what this home would mean to you.
Step 5: Negotiate the price
Negotiating a price is one of the most crucial aspects of your real estate journey, and choosing the right realtor can really help with negotiations. At this point, your agent’s expertise can make the most dramatic difference. As your professional negotiator, your agent’s role is to help you get the best price for your purchase. Remember, negotiation can also include items outside of the price itself. You might want to negotiate closing costs, inspections, terms, and more.
Step 6: Schedule your inspections and appraisal
A professional home inspector will examine the home to identify any damages or fixes that need to be made before the home goes into closing. Using the inspection report, your agent can negotiate with the seller to get the damages fixed or the price compensated in the final sale and documents. Additionally, you will want to order a home appraisal to determine the home’s accurate value and ensure what you’re paying aligns with what the home is worth.
Step 7: Complete the closing process
During the closing step, you and the seller will sign all necessary documents to finalize the sale and transfer the ownership of the property from them to you. To make sure your closing runs smoothly, ask your realtor about what to anticipate, and prepare accordingly. Some closings happen very quickly and others take weeks or months to complete.
Step 8: Move in and enjoy your new home!
Congratulations on your new home – the long-awaited process has paid off! It’s now time to start boxing up all your belongings and preparing to move into your new space. Preparation is key when it comes to relieving the stress of moving homes, so plan accordingly and seek help where you can. Once things are moving into your new space, the fun can really begin!
Ready to find your dream home?
The searching starts here! To connect with our real estate experts and learn more about the home buying experience in Central, PA, drop us a line or schedule an appointment with our team. We are here to help make your home buying dreams a reality.