Buying a property can be the largest financial decision you ever make. We at Goodman Group are determined to make sure you have all of the tools necessary to be confident that your real estate decision is the right one for you and your family. Whether you are a first time home buyer or the savviest of investors, Goodman Group is here to help. Here is a buyers guide that should put you on the right track to purchasing your new property:
1. Why do you want to purchase?
There are a million reasons why you could want to purchase a new property. Identifying the specific reasons will help guide you in determining which property is the best fit for you and aid in deciding how to proceed with that property.
2. Choosing a Real Estate Agent
A Realtor is not only the person who guides you through the process towards home ownership, but he/she is also the person who should have the connections to make sure you are in contact with the best people throughout your home buying process. Choosing the right Real Estate is crucial, so make sure you are working with someone who you can trust.
3. Speak with a Lender (if necessary)
This is a key step so you know what you are actually qualified for from a loan/price range standpoint as well as its associated monthly obligation. Making sure you can afford a home prior to finding one is always recommended. Your Realtor should be able to recommend at least one or two mortgage lenders to you.
4. House Hunting
Once you have connected with a Realtor and have been pre-qualified, you are ready to start looking at homes. Your Realtor will guide you through the home selection process based on your home criteria.
5. Under Contract
After you have picked a home and have gone under contract, your Realtor will assist you through the process all the way to the end. While you are under contract, you will have the opportunity to conduct inspections, appraisals, and a final walk through.
6. Settlement and Move-In
Once all of your contingencies have been satisfied and your loan is cleared to close (if necessary), you are ready for settlement. Settlement is where the seller(s) sign ownership of the property over to the buyer, funds are exchanged, and keys to the property are given to the buyer, unless another agreement was made between the buyer and the seller.