When it comes to buying a home there is no real “rule book” of the exact process or the exact amount of time it takes to get the keys in your hands and walk through the front door for the first time. Each home buying experience is unique, and with the right agent your experience will be tailored to fit your specific needs and wants as well as the timeline that works best for you.
Related: Opening Escrow – What Does it Mean?
While in some cases you may choose to start house hunting and be fully closed on your new home a month later, in most cases there is a little more time involved. Regardless of the timeline that fits your wants and needs the best, the general order of events when purchasing a home remains nearly the same.
#1 Find an Agent
The right agent will help your home buying experience run smoothly, make sure to be picky!
#2 Get Pre-Approved
Finding a lender and getting pre-approved will help you find homes within your budget as well as close on the property faster once you’ve found “the one.”
#3 Write Down Your Needs
Make an actual list of the features the home must have, such as bedrooms and bathrooms, as well as a list of wants that could be compromised on. This will help you and your agent find listings that meet your criteria.
#4 Browse Listings and View Houses
Find listings that fit the needs from step #3 and then set up times to tour the properties!
#5 Make an Offer
Once you’ve found a home you love it’s time to place an offer, your agent will be able to help guide you through this process.
#6 Negotiate with Seller
In some cases, you may have to negotiate with the seller to get your offer accepted, or place counter offers until both parties agree.
Related: What is PMI?
#7 Final Loan Approval
Time to get your loan approved! Your pre-approval is already in place, so this process will run smoothly and quickly in most cases.
#8 Appraisals and Inspections
Before you can close escrow you will need to complete your appraisals and inspections.
#9 Close and Get the Keys!
It’s now time to get the keys to your new home!
That’s it! You are now the proud owner of a new home! Make sure to keep in mind that throughout the above steps you will have to sign legal paperwork as well as provide needed documentation to get your loan approved and that your ability to provide the necessary documents or sign forms in a timely manner will greatly affect how quickly you are able to close escrow.
If you’re currently searching for a new home, are ready to sell your home and need a qualified seller’s agent, or if you have any questions regarding Camano Island Real Estate, please feel free to contact our office at any time and we would be more than happy to assist you.