Buying a Home

buying a homeBuying a home can be a challenging experience; there are so many things to check out and do; however, with some guidelines and tips, the process of buying a home can go smoother and with less anxiety. Following these steps to buying a home will make buying a home easier and faster.

One of the first things to do is to go looking for a mortgage. This is an important first step because it will show you how much you can borrow. Because a mortgage is monthly, you want the monthly payment to be comfortable and affordable. This first step will also help you get “pre-approved” and this will give you an edge once you decide upon the house of your dreams. At the Mortgage Network of Ohio www.themortgagenet.net we work with over 24 lenders, we can find you a loan for your new home!

The next important step is to look for a good real estate agent. Ask your friends, neighbors and others you trust to recommend an agent you can trust and depend on. Call them on the phone and check out their website. Remember as a buyer you are not paying the agent they are compensated by the seller. This means you want someone who will take some time with you on the phone to explain the home buying process. If you talk with an agent who acts as if he or she is in a hurry and doesn’t have time to talk with you, seek someone else.

Your next step is to find out how much the homes in your area are selling for. This can be found out from your local real estate agent or doing your research online.

Of course, the next step is to find a home you feel comfortable with; a home that will meet your needs such as location, price, convenience and the options you’re looking for. I suggest that you drive by your list of homes or better yet walk the neighborhood, talk to those you meet about the area and things you are unfamiliar with. Then, make an appointment with your agent to visit the homes and finally make that offer. Your real estate agent will find out about the situation with the seller and will know how long their home has been on the market. With all of the above information your real estate agent will help you develop your strategy for negotiating with the sellers.

Once a price has been agreed on, you will sign a contract and you will give an earnest money check to be applied to the purchase price. Ask your agent to explain how and when earnest money is returned should the contract not move forward to closing.

The next step is to get an home inspection. You can get a certified inspector by checking out the American Society of Home Inspectors or ask your realtor to recommend one. Then, once the home inspection comes clean and any issues have been taken care of, then contact your lender and they will help set up a closing date. Attend the closing date, sign all necessary papers and then you are done!

Buying a home is simply a matter of following each step. Of course, that does not mean you won’t experience stress and excitement all at the same time.

About Jeff Steinacker

At The Mortgage Network of Ohio Inc., we believe that you should have more than one option for a Mortgage. We will take your application, work every possible scenario, then offer you options of loan programs available to meet your needs. Jeff can be reached at 513 346 4070 x10 or jeff@themortgagenet.net
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