The preapproval process is the first step in home buying. Unless you will be making the purchase as a cash offer, you'll need financing assistance. The type of loan can vary depending on your income, debt/income ratio, credit, & various other criteria. The Battles Group can recommend several local lenders that will communicate effectively & efficiently. We work closely with your lender to ensure all parties are kept up to date. Not all homes are eligible for every type of loan, so this ensures that we narrow down our search as well.
Searching for the perfect home may seem daunting, but it is one of the largest investments most of us make, so patience is key! Fortunately, an agent from The Battles Group will be by your side at every step. Partnering with them allows you to:
How can I make the most of my time when touring homes?
How many homes should I visit?
Sometimes buyers find their future home on the first day of touring and others look at several before they see one that checks all their boxes. It’s a good idea to see at least a few alternatives so you have some points of comparison, but sometimes you just know a place is where you want to live!
What should I look for when visiting homes?
When you’ve found "the one", The Battles Group can help you evaluate the market and make a well thought out offer that also protects your interests.
What are some of the important terms in an offer?
Your offer should include:
What are the most common contingencies?
What happens if I face multiple offers?
In a hot housing market, you may find yourself competing against other buyers. With access to real-time market data, The Battles Group will be your ally and help know how to best position your offer. You and your KW agent can work together to find out what’s important to the seller, such as a specific moving date, and to discuss possibly waiving contingencies, adjusting your price, or writing a “love letter” about the house.
What is a counteroffer?
The seller can accept your offer as is, or they can make a counteroffer with an adjustment to your terms. You can accept or reject the counteroffer and make your own counteroffer. The contract is final once you and the seller have agreed to all terms.
What should I expect to see in the contract?
This will be reviewed by all parties before signing & submitting. When buyers & sellers both agree to the terms and all signatures documented, you now have a binding contract.
As soon as your offer is accepted, you should schedule any inspections such as home, pest, septic, etc. If you’re buying in a busy season, it may take time to find an available inspector, so time is of the essence in getting this arranged!
What is a home inspection?
Your home inspector will check a massive list of systems, appliances, and structures in your home to evaluate its condition. You’ll get a written report that identifies potential problems and future maintenance issues. It’s up to you to decide whether the report means you want to walk away from a house or ask the sellers to make repairs. You can also have an “information only” inspection, which means you’re buying the house as is, but want to know its condition.
What’s included in a home inspection?
The inspector will check:
What should I do before the closing?
As your closing nears, you should:
What can I expect at the closing?
Bring to the closing:
What paperwork is required to close?
You’ll be signing numerous documents, including a repeat of the documents you signed when you applied for your loan. The most important documents you’ll sign are:
After your closing:
Congratulations! You’ve got the keys to your new home!
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