Meeting Ms. Beth Ellyn Rosenthal, The Las Vegas Real Estate ConciergeAs a new blogger and an active learner, I am absorbing every ounce of knowledge that I can in every way I know how, in order to
The Home Buying Process
The Home Buying Process
Meet with a Real Estate Agent. In most real estate transactions, the buyer’s agent’s commission is paid by the seller, so you get the advantage of having an agent work for you without having to be out the money. Upon meeting with an agent, together you will go over the property type you are looking to buy – location, price and any special features/amenities you hope to have.
Get Pre-Approved. This part to many is probably the most frustrating part of the whole home buying process, but is one of the most important parts to getting started since it determines the price of home you can afford. You will need W-2’s, bank statements and pay stubs to get started with this stage of the process.
Search for Homes. Now starts my favorite part of the process, and I hope yours too - searching for the best home that fits your needs as a buyer! It is a great joy for me to get to take part in finding the best home for my clients. Your agent will locate homes that fit your criteria in your price range, and then schedule to get to go see the properties that you choose as your best matches.
Make an Offer. Once you find the house that fits your needs and budget, it’s time to make that offer. Your agent will prepare the offer with your price and terms, then submit it to the seller (or seller’s agent) along with your proof of funds and any other needed documents.
Negotiation and Contract. Once your offer has been submitted, now it’s time to wait and see if it gets accepted, countered or denied. If it gets countered it will come back with revisions to your terms, and your agent will go over them with you to see if you agree or if you want to counter back with changes.
In Escrow. Once a contract is accepted, it and the earnest money involved is held with a third-party (a title company here in Texas) that proceeds by the terms laid out in the contract that you and the seller have agreed to.
Final Details. The normal process for this phase involves appraisals, inspections and working out the final details with your lender. In most cases, these will have time lines to be completed in during this due diligence period – don’t worry, your agent will help you through the entire process.
Closing. The title company will finalize all of the paperwork and funds will be exchanged for the property. Making you the new owner of your home!
So, if you are ready to start down the home buying path and don’t already have an agent you are working with, call me today to get started!
Kassie is an enthusiastic person that brings both excitement and joy into everything that she does, including real estate transactions. Being a part of a national team of investors, she brings a lot ....