So, you’re ready to buy your first home? Congratulations! Deciding to take the first step is a big deal. Buying a home is one of the most important decisions you will ever make. Use this checklist to prepare you for a smooth buying process.
1. Strong Credit
How’s your credit? If you’ve decided to become a homeowner, you’ve likely gotten your credit rating to a strong FICO score. This will be important when it comes to getting approved for a mortgage because it affects the interest rate you’ll pay to get on a loan. If not, we’ve got tips to help you stay on track.
2. Get Pre-Approved
Being pre-approved gives you an idea of the budget you are working with and puts you at a competitive advantage once you find a home you love. If the seller has competing offers, your approval letter could help you stand out.
3. Find an Agent
You need an agent who knows the local market and has access to all listings in the multiple listing service. Their knowledge, time, and dedication are what you need to achieve your homebuying goal. An agent can make your experience easier and stress-free.
4. Search for Your New Home
For local listings you can trust, start your search on REIN.com. REIN.com is 100% focused on the Hampton Roads region. Our knowledge of the communities is more detailed, our insights are tailored to the local area, and our robust search capabilities help you find the ideal home in the ideal neighborhood faster.
5. Offer and Negotiate
You’ve found the perfect fit. Time to make an offer. Your agent will help you negotiate the price as needed. Don’t be afraid to ask for reasonable changes and repairs.
6. Home Inspection
Once your offer is accepted, you will need to get the home inspected. This just ensures that there are no underlying issues with the home that you’re unaware of before you officially move in.
7. Home Appraisal
The home appraisal assesses the value of the home. It takes into account the home’s location, condition, size, features, and more to determine if the home’s contract price is acceptable.
8. Closing Day
Once you’ve completed all the steps, and you agree to buy the home, your lender will schedule a closing date. At that time you will sign all your paperwork and obtain the keys to your new home!
9. Move In
You did it! You are now a homeowner. Check out these moving tips for a quick process.
Use this checklist to start your homebuying process with confidence. REIN.com has several tools to help you along your journey. Connect with one of our 7,000 agents to help you navigate the Hampton Roads real estate market. If it’s a question of what you can afford, check out our mortgage calculator to help estimate your monthly payments. For local listings you can trust, start with REIN.com.
Local Home Listings You Can Trust.