Everything You Need to Know About Buying Your First Home

Finding a Good Real Estate Team
When you’re looking to buy a home, begin by finding a trusted real estate attorney. He or she will be able to help you avoid
common problems that can arise with the purchase of a home. Being that a real estate attorney is trained in this type of law,
they can help a buyer avoid unclear terms and help a buyer fully understand the various contracts they’ll have to sign.
When looking to purchase a home, you should focus on a specific area. Remember, location is key! People buy in
neighborhoods, every bit as much as the houses they choose.
Once you have a specific area in mind, it’s important to find a good real estate agent that is knowledgeable about the area you
wish to live in and someone that you can trust. Most homebuyers use a real estate agent that was referred to them by a relative,
friend or collogue. They can provide you with helpful information about the area, and inform you of what similar properties
have sold for. Working with a real estate agent will make the process much easier for first time home buyers.
Finding a Good Home
Now that you’ve selected a trusted real estate agent, start looking for homes. Make a list of what you must have. When looking
at homes, take pictures and videos, this way you can remember the specifics about each and every home you visit. It’s a good
idea to drive through the area at different times of the day to check out how long it takes to commute to your workplace. If you
have children in school, make an appointment with a school administrator. During this process you’ll most likely view a number
of different homes, so don’t get discouraged.
Closing the Deal on Your New Home
Once you’ve looked at many different options, and you find a home that you love, it’s time to make an offer. When you find the
home that’s right for you, and once you’ve agreed on the price and terms, you’re almost done. Always ask to have a home
inspection along with an engineer’s report, if needed, and make sure you view the report as soon as possible. This will highlight
any engineering problems in the home and provide a detailed engineering analysis, along with any potential engineering design
flaws.
When you have an accepted offer, it’s crucial to begin home inspections. Generally, offers are contingent on the home
inspection. Home inspections are done to check for signs of structural damage or specific things, which need to be repaired.
Generally, your real estate agent will help you arrange these inspections. By having a home inspection contingency in your
contract, this protects you as the buyer to renegotiate your offer based on the findings in the inspection report.
Moving forward, there is a great deal of paperwork that is involved in buying a home. At this time, your financial institution will
arrange for a title company to handle all of the paper work during this process, and to verify that the seller of the property is the
lawful and rightful owner of the home that you’re buying. This is part of the due diligence process in the closing process.
Remember the closing process can vary with time and can be anywhere between 30, 60 or 90 days.
Now, it’s time for the actual closing. A day before signing all the paper work, it’s crucial to do a walk through, to ensure that
everything in the home is in working order. At the time of closing, you’ll be required to sign all of the paperwork, which will be
required to complete the purchase of this property. Once all paperwork is signed, and adjustments are made, you’re now a
homeowner and ready to move into your new home.