BUYING A HOME:

1. CHOOSE AN AGENT

Select a trusted real estate agent to represent your interests and to help you navigate through this complex process. Ask family, friends, or co-workers who they have had a great experience with or interview someone that impresses you at an open house.

2. START THE LOAN PROCESS

It’s important as a buyer you establish some kind of financing before you make any serious home offer. The “pre-approval” process allows lenders to take a look at your finances and credit history in order to make a general assumption about your loan amount. The pre-approval process is when a lender looks at all of your finances and determines the amount of money you can afford for a mortgage.

In order to get pre-approved for a loan, you need to contact a lender. Your Skogman Realty agent can help you find a lender that you feel comfortable with, and that offers programs best-suited to your needs.

3. MAKE A WISH LIST & START YOUR SEARCH

Consider your non-negotiable items on your wish list. What can’t you live without? Do you have to have 3 bedrooms? Do you need to be close to work and school? Do you have to have a pool? Write down your “must-haves” and your “would-be-nice” items and start searching with the help of your Skogman REALTOR®

4. MAKE AN OFFER & NEGOTIATE COUNTEROFFERS

Once you have found the right home, your REALTOR® helps negotiate the terms of the sale, including price, possession date and any seller’s concessions, if applicable.

5.

Contract To Closing

There’s a lot that happens between an accepted offer and closing. Your real estate agent will help you navigate through this process. You’ll want to have inspections done on the home you’re buying. You’ll also need an appraisal and insurance.

FINAL WALK THROUGH & CLOSING

6.

Before closing, we’ll go through the home for a final walk through to make sure the home is still in the same condition it was in when we wrote the offer. Then it’s time for closing! Final mortgage documents are reviewed and signed. This takes approximately one hour. If you’re required to bring funds to closing, a certified check is required. Your photo ID is also required.

Understanding your budget

Before starting your home search process, it’s important to evaluate your financial situation, confirm your budget, and familiarize yourself with mortgage options.

Your REALTOR® & mortgage lender can help you evaluate:

• How much financing can you qualify for

• Your credit history and credit score

• How much will you need for a down payment

• Items included in your mortgage payment

• What will your monthly payments look like

• Possible financing choices

• Current interest rates

Additional costs to consider:

• Monthly HOA payments

• Property taxes

• Homeowner’s Insurance

• Utilities

• Commuting costs