Walzel Properties knows that buying a home can be overwelming and stressful at times. Our skilled real estate agents understand the importance of such an investment, both personally and financially, and will assist you every step of the way.
We have experts on our team that can help make the buying process quick and easy. Lenders, appraisers, inspectors and title companies all available to answer questions and help you.
Although each transaction is different, below is a step by step list of the home purchase process:
- Get Pre-Approved.
Before you begin looking at homes, you should meet with a loan officer to obtain a pre-approval letter. The loan officer will use your financial information to establish a price range from which you are qualified to borrow. You should receive a Good Faith Estimate (GFE) as well as a Truth-in-lending statement (TIL) that will help establish you as a qualified buyer.
- Meet with your Walzel Properties agent to discuss your goals as a buyer.
Be honest with your agent. Let them know exactly what you are looking for. If you are unsure, that's ok too. Your agent will be happy to help you focus your wants and needs.
- Begin viewing potential homes with your agent.
Based on your established needs and goals, your agent will compile a list of potential homes for you to consider. Your agent will also schedule appointments to view these homes as well as accompany you and represent your interests.
- Prepare the offer.
Once you have narrowed your selections, your agent will provide you with a comparative market analysis, so you can make an informed decision. You can then review all of the required paperwork, and work with your agent to structure an offer. Your agent will negotiate with the seller’s agent and if both parties come to an agreement the contract is signed.
- Apply for your loan.
Once all of the documents have been sent to the title company, give your loan officer a copy of the signed contract. You can then begin the loan process.
- Inspect the property.
- Property Survey and Appraisal.
- Purchase Property Insurance.
Make arrangements for homeowner's (hazard) insurance.
- Close the deal.
Review a copy of the closing statement and perform a final walk through inspection of the property. Your agent will arrange a closing date and time for you to meet with the title company. Closing costs and the balance of the down payment are due at the closing. Make sure to bring a cashier's check or wire money at this time.
- After the closing.
All of the documents will be sent to your loan company for approval. Funds will then be disbursed. Once the title company receives the funds, all other expenses and fees associated with the loan are due. Documents will then be filed at the County Clerk’s office and the title company will prepare and issue you a title for your new home.
- Move in!
Your realtor can provide you a list of moving companies and other helpful information to make your transition smooth.
Tips to Consider When Buying a House:
Know your Budget. It’s important to establish your price range before you even begin looking for a house. How much can you afford? How much is too much? What kind of monthly payments can you make? How much can you put toward a down payment?
- There will be Additional Costs. Keep in mind that there will be additional costs when you buy your home. There will be closing costs, property taxes and insurance premiums. Don’t forget to include these when calculating your budget.
- Get Pre-Approved for a Mortgage. It is important to get pre-approved for a mortgage loan before getting too far into the buying process. It’s a safety feature when it comes to making an offer (you know that you can back it up) and it adds a wanted comfort factor when considering what home is right for you.
- Make a List. a piece of paper and draw a line down the middle. Label one side “Really Need” and the other side “Really Want.” Bring the list to your realtor. Be honest with yourself; you know what will make you happy. Sometimes it just helps to see it in writing.
- It's All About the Location. You have to live there, make sure it’s where you want to be. Consider the commute time to and from work. How is the school district? Is there a Home Owner’s Association? What does the rest of the neighborhood look like?