CONGRATULATIONS!

YOU HAVE MADE THE RIGHT DECISION

This might seem like a simple question, but there is a lot to owning a home. There is the actual Process of buying the home to the demands of being a home owner. If you are prepared and Owning a home is right for you, then you have made the right decision.

PICKING YOUR AGENT!

A local realtor truly knows the local market. They have been in many of the houses that are for sale in the market that you have seen online. They understand why certain homes in certain neighborhoods are priced the way they are. They are also in the best position to help you find the house that most closely matches what you want in a home most importantly, a realtor will be looking out for your interests.

HOME REALTY USA SERVICES

HOME REALTY USA offers essentials services that can help any buyer or seller in today’s real estate market. Our 4.95% sellers program is a proven track program guaranteed to save thousands of dollars to many sellers. At HOME REALTY USA we understand that a home becomes your most valuable asset, therefore our realtors are trained with the knowledge to help you, the buyer, in your home purchase.

LEARN ABOUT YOUR FINANCE OPTIONS

The vast majority of home buyers need a mortgage loan to buy a home, but because of the recent financial crisis, securing financing can be difficult. Lenders make their decision on whether to issue a loan based on the likelihood they will be paid back. To do this, they look at your credit score. The higher your credit score, the better chance you have for obtaining financing. Unfortunately, there can be errors on your credit reports that can impact your credit score. To prevent this, make sure to obtain your credit report from any of the three credit reporting companies (Equifax, Experian and Trans Union) and correct any errors prior to applying for a mortgage. https://www.annualcreditreport.com (Under our “MORTGAGE RESOURCE” tap you will find another tap to check your credit)

FIND A SUITABLE HOME FOR YOU

Make a list of the features and benefits you want in a home. Consider such things as pricing, location, size, schools, amenities and design. Consider your priorities. If you can’t get a home at your price with all the features you want, then what features are most important? For instance, would you trade fewer bedrooms for a larger kitchen or a longer commute for a bigger lot and lower cost? Finally, consider your needs in several years.

PLACE AND OFFER AND KNOCK IT OUT OF THE PARK!

Once you have found a house that you would like to buy, you need to make an offer to the owner. In a typical situation; you will complete an offer along with a $1,000 deposit that your realtor will present to the owner and the owner’s representative. The owner, in turn may accept the offer, reject it or make a counter-offer. The owner’s response will determine your next step. (Please note: In some markets, it is not unusual to go directly and sign a purchase or sale agreement. Working with a local realtor will easily guide you through this process)

Purchase & sale agreement

Once you have been satisfied with the home of your choosing the next step is to sign a purchase & sale agreement. This document details the specifics of the transaction, such as: repairs to be completed; fixtures to remain with the property, the property’s status regarding lead base paint; etc.etc.etc., the closing date is finalized and your deposit is made (which is held in escrow until the closing). If you have any questions about your legal rights or responsibilities, you should consider consulting a real estate attorney.

ALWAYS PROTECT YOUR INVESTMENT

After your offer is accepted, it is routine to have a home inspection. During these examinations, a licensed Inspector determines if there are material physical defects and whether expensive repairs and replacements are likely to be required in the next few years. Such inspections for a single-family home often require two or three hours, and you should attend. This is an opportunity to examine the property’s mechanics and structure, ask questions and learn far more about the property than is possible with an informal walk-through.

LEARN ABOUT YOUR FINANCE OPTIONS

“Pre-approval” means you have met with a loan officer, your credit files have been reviewed and the loan officer believes you can readily qualify for a given loan amount with one or more specific mortgage programs. Based on this information, the lender will provide a pre-approval letter, which shows your borrowing power and that you have the ability to go through with a purchase.

YAY! IT’S CLOSING TIME

This is the day when you will become a home owner, but there are several steps that are necessary. Prior to closing you will have a walkthrough of the home you are buying. This is to make sure repairs (if any) were made and that the house is in the same or better condition than when you made the offer. Most lenders will require that you have a home owner’s insurance binder (proof of insurance) before they will close the loan. Many buyers also purchase title insurance that is bought with a one-time fee at closing. (NOTE: Title insurance protects owners.)THEN ENJOY THE COMFORT OF YOUR NEW HOME…CONGRATULATIONS!!!