Finding Your Home
Now the fun starts. Searching for that perfect home. Experts tell us that most of us buy from the heart rather than reason, we often buy something entirely different from what we say we want. And we do learn to compromise as we realize that the “perfect house” does not exist.
But we do need to think about what our basic wants are and we need to discuss these with our significant other to see if we can agree on what those are. We all have ‘needs’ and we all have ‘wants’ and we need to think and discuss those so we can come to an agreement.
Here are the basics to consider:
How many bedrooms?
How many baths?
How many living areas?
What size garage?
What area do you want to live?
Are schools important? Which ones and where?
What style home and floor plan do you like?
When do you want to occupy?
Do you need to sell to buy?
What is most important to you?
Where do you work? Is closeness to employment a need?
Do you want a swimming pool?
Do you want a basement?
Need a Dining Room
Is lot size important?
Is Privacy important?
Is convenience to shopping important?
Do you have a need for a special feature like wheelchair access?
Now can you rate which is most important to you? I want to respect your time and only show you what is important.
Importance of MLS in the Search
Our NEOHREX Multiple Listing Service has available all the listed homes in the area. This website has various searches designed to fit a myriad of options. I especially like the map search.
You can sign up to search and save the searches in your area and ask for new listings to come to you directly which meets yours needs.
Write the Offer
When we find your home, I will help you write the offer including obtaining the seller disclosures, and including the contingencies and inspections you wish to include.
After the Offer
Various steps need to take place before we can close including, loan application, qualification and commitment, all inspections completed and repairs made, property is appraised and surveyed if desired, the title is analyzed and homeowners insurance is obtained. This can take 30-60 days depending upon how quickly the lender can get an appraisal of the property, a credit report and verification of employment and bank accounts.
Delays can be caused if you fail to provide complete, accurate information or if you have credit problems or if the house fails to appraise. If you’re financial or personal status changes between the time you apply and time the loan is funded, you need to let your mortgage counselor know.
This is the meeting where the sale transaction is finalized. This is the last step before you can call the property your home. You will first be asked to provide a copy of your drivers license for identification. Then the HUD settlement statement is explained and signed; next you’ll sign a large number of papers including your mortage or deed or trust and the note agreeing to pay them. Finally the down payment and closing costs are paid. If you get possession at closing, you will have had the utilities put into your name earlier for the closing date. And now the keys are passed out and the home is yours. Congratulations!
For additional information, My website includes some videos from the WVHDF that helps the Buyer become expert in the process. Check these out under Buyer on my website.
Here’s your final Homebuyer’s Checklist:
- Familiarize yourself with the mortgage process
- Get pre-approved and pre-qualified
- Get finances in order and plan your budget
- Identify your needs and wants
- Find the home that meets your criteria
- Negotiate a price and make an offer
- Arrange for a home inspection
- Confirm a closing date
- Conduct walk-through of home
- Close and take possession.