Download - 7 Steps to Finding A New Home
![Page 1: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/1.jpg)
7 Steps To Finding Your New Home
![Page 2: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/2.jpg)
1. Consulting with a real estate agent
2. Getting pre-approved
3. Finding the home
4. Making an offer
5. Negotiating the offer
6. Processing the loan
7. Closing & funding
The 7 Step Home Buying Process
![Page 3: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/3.jpg)
#1. Consulting with a Real Estate Agent
#1. Consulting with an Agent
![Page 4: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/4.jpg)
Understanding Your Expectations
What questions do you have about working with an agent to find your new home?
What are your expectations of me?
![Page 5: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/5.jpg)
Why Use A Real Estate Agent?
Helps you determine how much house you can afford
Provides you with information about the market so you can develop an offer including the offering price and other terms
![Page 6: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/6.jpg)
Why Buyer Representation?
Buyer representation exists to protect you
I will run comps so we can determine the fair market value of the home
I will help you determine the appropriate price
Note: Without a signed Buyers Representation Agreement - real estate agents represent the seller.
![Page 7: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/7.jpg)
2. Getting Pre-Approved
A mortgage pre-approval will determine how much money you can borrow for the purchase of your new home
![Page 8: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/8.jpg)
Getting A Pre-approval Letter
The process involves:
Calculating your income vs. debt ratios
Running a credit review
A pre-approval letter will strengthen your position when making an offer on a home!
![Page 9: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/9.jpg)
3. Finding The Home
![Page 10: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/10.jpg)
Assessing Your Needs - Lifestyle
How you live will help determine where you live
What is the driving force behind this move? (Job, family, more space, schools, lifestyle, etc.)
What type of activities do you enjoy?
![Page 11: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/11.jpg)
Assessing Your Needs – Your Dream Home
Putting together your wish list
Who will be living in the house?How much space do you think you will need?
Other considerations include: Age of home, lot size, kitchen, baths, layout, style, condition.
What are three “must have” features for your new home?
![Page 12: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/12.jpg)
Listing Alerts
I will set you up to receive “Listing Alerts” so you can be the first to know when new homes matching your criteria come on the market!
![Page 13: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/13.jpg)
4. Making An Offer
![Page 14: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/14.jpg)
How Much To Offer
Making an offer to purchase involves more than picking a price
We will review comparable properties in the neighborhood that have sold recently
![Page 15: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/15.jpg)
Negotiable Terms In The Contract
Other negotiable items in the contract we will discuss include:
Inspections, repairs and home improvements
Closing costs, points or home warranty
Closing data and possession
![Page 16: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/16.jpg)
5. Negotiating The Offer
Once the offer is submitted, I will work with you in the negotiations
![Page 17: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/17.jpg)
Inspecting The Property
Home inspections will serve as an education in the structure and systems of the property you are purchasing
The inspector(s) will give you information regarding condition, maintenance, lifespan and more
I will help guide you through the process so you can negotiate repairs for the property based on the review of the inspections
![Page 18: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/18.jpg)
Executing The Deal
![Page 19: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/19.jpg)
6. Processing The Loan
Now that you have the seller’s final approval, we need the lender’s final approval
![Page 20: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/20.jpg)
Final Financing Approval
For example:
There are no liens on the house
The house appraised at a value equal to or greater than the agreed upon sales amount
Final approval means all conditions on the loan have been removed
![Page 21: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/21.jpg)
7. Closing & Funding
Just before settlement, we will make one last inspection of the property to ensure that the home is in the condition we expect
![Page 22: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/22.jpg)
Making Arrangements For Closing
Homeowners insurance
Home warranty
Certified funds for down payment & closing costs
Utilities and movers
![Page 23: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/23.jpg)
Welcome Home!
![Page 24: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/24.jpg)
What Is A REALTOR®?
We adhere to a strict code of ethics and are committed to treat all parties to a transaction honestly
REALTOR® business practices are monitored at local board levels
![Page 25: 7 Steps to Finding A New Home](https://reader038.vdocuments.net/reader038/viewer/2022110115/5492eeb0b47959834a8b48ed/html5/thumbnails/25.jpg)
LET’S GET STARTED