Purchasing a home is a very exciting process and one I will guide you through. An overview of the Home Buying Process is below.
Pre-Approval: The first step in the process is to receive pre-approval from your bank or a Financial Institution of your choosing. Pre-Approval allows you to know how much you can afford and an estimate of your monthly payment.
Find a Home: As your licensed Real Estate Agent, my goal is to help you find that special home that meets your needs. I will show you ALL of the homes in your price range that meet your critera.
Click here for a Flood Zone map.
Make an Offer: Once you have found the home you are truly interested in, it will be time to put in an offer on the home. At this point in the process, I will find comparable homes in the area of the home you would like to purchase and share with you the best offer price for the home (aka Market Analysis).
Negotiation: As with any offer on any other product, there will be some negotiation on the sales price of the home. This is where I step in and help with negotiating the best price for your home. I don't want you to pay any more than what you have to on the home, right? :)
Home Inspection: This is optional, but is HIGHLY recommended. A Home Inspection allows you to know about any "issues" with the home before moving in. Any "issues" that are found with the home can be asked to be corrected. These items are negotiable so there may be times when not all of the "issues" will be corrected.
Home Insurance: Check with your current Insurance company as well as other Insurance companies to find the best insurance rate for the home you are interested in purchasing. Be prepared to provide the Insurance company with specifics about the home (i.e. type of roof, type of exterior, etc).
Click here for a list of recommend Insurance companies.
Appraisal: Although a Market Analysis was performed prior to making an offer, the official conclusion of how much a home is valued at is done by an Appraiser. The Appraiser reviews everything that a home has to offer and also compares comparable homes in the area.
Survey: If the Seller does not have a Survey, a Survey will need to be done on the property. A Surveyor measures the exact measurements of the property and the home. The Survey is also shared with the Tax Appraisal District to be placed on file.
Closing: This is the last step in the Home Buying Process. Congratulations on making it this far because you are able to become a home owner, how EXCITING! During Closing, you will be presented with paperwork to sign to finalize the purchase of the home. Upon signing all of the paperwork, your home loan will be funded and you will be given the keys to your NEW HOME.
Moving In: Now that everything is said and done, it is time to move in! All of your belongings should be packed and ready to move in. After moving in, be sure to have a home warming gathering and invite your Real Estate Agent. :)
Click here for a Moving Checklist.
Should you have any questions about the process above or any items that were not covered, feel free to contact me on my mobile (806.786.8905) or via the Contact Me form. Have a GREAT day! -Adam Cavazos