Better Properties Meridian Buyers Information Page
HOME BUYERS TIPS:
To begin with, we believe that the more informed you are, the better your experience will be. We have the resources to guide you through the home finding process, providing you with everything from detailed property searches to neighborhood information.
Below, we have included a general step-by-step list to help explain the home buying process. Some of these stages may seem confusing, but remember, we are here to answer any questions.
1. Determine your needs and budget
Target an Area that you & your family can agree on together; the sooner you realize your ideal location, the sooner your chances are at finding a home that’s right for all of you!
Budget your finances realistically; (what can I afford?); ask yourself honestly & give yourself enough room for unexpected surprises; owning a home is more than just taxes & mortgage payments. Think ahead; “What if the furnace goes out?”
2. Get pre-approved for a loan
Choose a Lender that will work fast and efficiently; ask your agent who they work best with; most of
the time if you love your agent, you’ll love their referral!
- Get Pre-qualified
- Obtain a pre-approval letter
- Obtain a “Truth in Lending” letter explaining the costs of borrowing money
- Learn about the many loans available to buyers in today’s market
- Learn about closing costs
3. House search!
With your specifications in mind, we will use our resources to scout the marketplace on your behalf. When we find houses that meet your criteria, we can review them and schedule a tour at your convenience.
- When possible, all decision-makers should visit the various homes
- Always be candid–it will help us understand your particular needs
4. Prepare the offer
Once we have found the home of your dreams, we will help you determine an appropriate offer price by reviewing market trends and similar home sales. With your input, we will draft a written offer that outlines the price as well as the responsibilities of both parties in preparation for the transaction. If the seller accepts the offer, it becomes a binding contract. It is imperative that you carefully review the contract and clarify any aspects that are not clear to you, prior to offering.
5. Inspect the property
In order to ensure your safety and the value of your investment, it is important to have the proper personnel thoroughly inspect the house after the offer and loan terms have been finalized.
- Select an inspector and arrange for both a general inspection and comprehensive pest inspection
- Depending on the property and location, we can also provide information about other environmental assessments
6. Appraisal and survey of property
- The lender and title company will make arrangements for the property appraisal and survey
- Buyer will be provided a copy of the Title Commitment Letter
- Buyer will make arrangements for homeowner’s (hazard) insurance, and arrange for the insurance agent to talk with the closing officer at the title company
Manage your time well; the home buying process can be draining, so don’t overwhelm yourself, this is a very important time & should be fun!
Ask TONS of questions; no question is a BAD question, the more information you have the better your chances of making good decisions!
Congratulations, you just bought a new home!