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1. Develop a wish list, to help you prioritize the features you want in a home in Daphne, Fairhope, Spanish Fort or the Mobile metro area.
We've included one that can help define which features are really must-haves. Which ones are icing on the cake and nice to have, and which ones really don't matter to you. By going through these easy exercises you will be able to shop and compare homes so fast it will amaze you the time saved and how easy the process can become. Now we need to talk about a real estate professional to guide you through the process and help you avoid costly mistakes
2. Next find a Daphne and Mobile real estate professional. Call Barbara!
If you are not already working with one, check out our "How to Select a Real Estate Professional" section below to find out the questions you need to ask as you interview. A first class REALTOR® will look at everything with an objective eye and will sometimes ask some tough questions rather than agree with everything that is presented.
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3. Figure out how much you want your house payment to be and get pre-approved for a mortgage.
4. Make a date with your REALTOR® to start shopping. Call Barbara!
Be sure sure to use the "Home Comparison Checklist" to record the pertinent details of your favorite houses. Most of my clients think they will remember everything about a house but after touring eight or ten houses, details begin to run together. They might remember the bathroom at one house as being in a different home. I have a few tips that I give my clients in their home package which helps make the process a little easier. When we are finished, compare that list with your wish list to help with the decision making process.
5. Making an offer on your dream home in the Daphne or Mobile Metro area.
Your agent will check your local market to see how much over and under bidding has recently occurred for your chosen neighborhood. Also it is important to know if it is a buyer's market or a seller's market. Knowing this can save you money and can save you the frustration of losing one home after another in the home buying process. In addition, your agent will provide comparison houses and price ranges for offers that you will be comfortable with and that are least likely to offend sellers who have both a sentimental and a monetary value attached to their home. I will provide you with this comparative information and guide you through the negotiating process to make you a winner in the home buying game.
6. Finish the loan process with the lender and move forward to close.
Experienced loan processors are your best source to help select the program that best suits your needs and will lock in your rate. A good REALTOR®' will look out for your interests and try to keep you away from predatory lenders. I will guide you as to the companies with the best programs for your particular needs.
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7. Order a home inspection to make sure of the integrity of your home.
When you are ready to make your offer, make sure it is contingent upon a home inspection conducted by a qualified professional. If possible, attend the inspection. Inspectors are trained to find every small defect as well as large, very important defects. By being at the inspection you will be better informed about what needs immediate attention and what is just a normal blemish.
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8. Your mortgage company will have your home appraised.
An appraisal is required to proceed with your loan. Normally your lender will order the appraisal. If you are paying cash, your REALTOR® will put you in touch with some appraisers to insure the value of the property. As a rule if the home does not appraise for at least the contract price, the contract is voidable.
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9. Begin the process of obtaining homeowner's insurance as soon as the contract is valid.
You will be required to show evidence of insurance prior to closing. It is important to begin this process as early as possible because sometimes there is a wide range in premimums. You should compare rates from three companies to get your best quote. Your real estate agent will give you the name and number of your closing agent at the title company to whom your insurance agent will send your insurance binder.
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10. Set up your utilities or have them transferred into your name on the agreed date.
These can include telephone, gas, water, electricity, garbage/sewer and cable/satellite.
11. Prepare for and attend your closing.
I will tell you well in advance exactly what is needed to close on time. Let that be your guide from here on out. The seller will determine your title company and where your home will be closed. |