First Time Homebuyer
Understand The Process Before You Begin! Buying a home can seem like a daunting task. We make it our goal to help you find the BEST HOUSE for the BEST PRICE with the least stress to you! These 5 steps will help you gain a better understanding of how the process works.
Step 1: Find A Realtor
Contact a Realtor and get the expertise and guidance you need. As a buyer you can have an Agent represent you at no cost. Sellers pay the real estate fees. The agents whose signs are in the yard represent the Seller – Not You. It’s a common misconception that you will save money by working with the agent representing the seller – one agent representing both sides. That’s not the case and there is no reason to not have someone looking out for you and your best interests. It doesn’t cost you as a Buyer so retain your own representation and let us look out for you! A Realtor representing you will help you enlist the experts you need working for you in the process to assist with you financing, due diligence and closing. That’s what we’re here for!
Step 2: Find Out Your Buying Power & Get Pre-approved for Financing
A lender will discuss your personal financial information with you and determine your buying power based on your income, debt and down payment. There are some 100% financing options available and your lender will help you determine which loan program is best for you. This determines the price range of the homes you should be looking at and helps us narrow your search so we make the best use of our time looking at a more targeted group of properties. Start your pre-approval!
Step 3: Shop for Your Home and Make an Offer
Once you are pre-approved, we can come up with a list and start viewing property options. Once you find the property that is right for you, we’ll be there to negotiate on your behalf based on the value of comparable sales in the same area or subdivision you choose to purchase in. Once we work out an offer and reach agreement the property will be put to pending status and considered under contract.
Step 4: Know What You Are Buying
Once you are under contract it’s time to do your Due Diligence. During the Due Diligence period we work with you to do all the investigation of the property so you know everything you need to know before purchasing the home. This includes a Home Inspection, Wood Destroying Insect Inspection, Septic Inspection (if applicable), Heating & Air Conditioning Inspection and Survey.
Once all inspections have been completed, each inspector will provide written reports on all findings. We can then request that the Seller make all necessary repairs so you get the property in the best condition possible prior to closing. Repairs are negotiable so, once again, it’s always good to have a Realtor working on your behalf and negotiating for you to ensure you get the property in the best condition possible.
Step 5: Coordinate the transaction through closing.
Once all investigation of the property has been done and repairs are completed we work toward closing. Closing is the process where we sit down with a real estate attorney and sign the necessary documents to transfer the sale of the property. Once all documents are signed, the lender sends over the funding or you provide the necessary funds if you are paying cash for the purchase of the property, the attorney will go to the courthouse and record the sale. At that time, the closing occurs.
The Chesson Real Estate Group Agents work one one on one with our customers throughout the entire transaction. We do not hand off the Due Diligence and Closing Coordination to a team member to handle on our behalf. We work directly with you and your lender throughout the duration of the contract period to give you the highest level of customer service that you deserve. A home purchase is typically the biggest purchase an individual makes in their life. We believe it deserves the utmost attention.