10 Steps To Buying Your Home
10 STEPS TO BUYING A HOME – A STEP-BY-STEP PROCESS
Step One: Get Qualified by a Lender
Get pre-approved for a loan so you know how much house you’re able to buy. Local lenders in Indianapolis and Central Indiana understand our market and know which loan programs may benefit you. Being pre-approved by a lender before you make an offer on a home is an absolute must in today’s market.
Step Two: Meet with Ryan Benroth
You and I will discuss your needs, wants and desires in a home, as well as the basics of the home buying process. Whether you are building brand new or buying an existing home, I have the resources and skills to help you find your next home, but we will need to talk about your specific needs.
Step Three: Determine Where You Want To Live
Educate yourself. Familiarize yourself with the neighborhoods you’re interested in, the taxes and school districts. This not only helps you narrow down your search, but also helps you figure out potential mortgage payments. This is where my local area expertise will come in handy. Don’t feel bad – pick my brain, ask questions about the Indianapolis real estate market. This is what I do!
Step Four: Choose Your System
Determine your mode of home shopping. Some people prefer “window shopping”. This is where you drive around looking for homes. Then you call me about the houses you’d like to see or want more information about. This mode of house hunting is typically reserved for people who are not in a hurry to move, aren’t sure what they are looking for, are uncertain about which area of town they want to move to, or prefer to be in the driver’s seat of their home search. Typically, most buyers opt for my Agent driven system. This is the more traditional system where your I sort through the available homes for sale based upon the criteria we have discussed, arrange private viewings for each home that meets your criteria, and go with you to tour the homes.
Step Five: Find Your New Home
Narrow down the available homes until you have found the right house for your needs. Don’t be surprised if you find the perfect home on the first day shopping…so remember to bring your checkbook! Sometimes the first home you see is the right one for you. Don’t discount it. Remember, good deals still go fast. Be prepared to act; however, don’t feel rushed into anything that you aren’t ready for.
Step Six: Write Your Offer
Once the home is found, a purchase agreement will be written and negotiated. Earnest money will accompany the purchase agreement and will be deposited at the time of acceptance. Sometimes the purchase agreement (aka offer) is accepted as is and its over very quickly. However, more often than not there are at least a couple of rounds of negotiations.
Deadlines usually require quick turnarounds, so try to be easily reachable during this exciting, albeit nerve-wrecking, time.
Sometimes deals just don’t come together. That’s OK. Maybe it wasn’t the right house afterall. When you do find the right house, write the purchase agreement, make it through the rounds of negotiations, and have an accepted offer in hand – it’s time to move on to the next step.
Step Seven: Purchasing Your Home
This can be a difficult time… Some people are extremely excited, while others begin to doubt their decision. This is natural. It is important to RELAX and focus on the future.
Step Eight: Formalize Your Financing and Begin Inspections
You will now have an appraisal and inspection completed on your home. I will help with any problems or concerns along the way! There is a lot of paperwork during this phase, the potential for another round of negotiations, and financing documents to pull together – but don’t worry – I’m here to help you keep it all straight.
Step Nine: Close on Your Home
The closing will be scheduled per the accepted purchase agreement. Once you have a closing date, you can determine your moving date. There will be a large stack of documents to sign at the closing table. Be sure to bring identification and any other forms and/or funds as directed by our Title Company of choice.
Step Ten: MOVE!
Pack your boxes, load the moving truck, and move into your NEW HOME!