The 10-Step Guide for Home Buyers
Buying a home may be the most complicated financial process of your entire life. Luckily, we’ve broken it down into 10 straightforward steps:
- Are you ready to become a homeowner?
Whether you’re becoming a homeowner for the first time or you’re a repeat buyer, buying a house is a financial and emotional decision that requires the experience and support of a team of reliable professionals. Greg Lucado, Realtor® and the NextHome TwoFourFive family of Realtors® are ready and able to guide you through this important process!
- Choose Greg Lucado, Realtor® at NextHome TwoFourFive
There are two types of real estate agents. A selling agent and a buyer’s agent. It is very important that you work with a Realtor® who can look out for YOUR BEST INTEREST. As a home buyer, you will want to be represented and advised throughout this legal transaction by a Realtor® as a buyer’s agent. There is generally no cost to the home buyer for representation however, it will cost a home buyer greatly if you are unrepresented. In the maze of forms, financing, inspections, marketing, pricing, and negotiating, it makes sense to work with Greg Lucado a local professional Realtor® serving Central Virginia who specializes in contract negotiation, knows the community and much more.
- Get a mortgage pre-approval
Most first-time buyers need to finance their home purchase, and a consultation with a mortgage lender is a crucial step in the process. Find out how much you can afford before you begin your home search. Greg Lucado, Realtor® will provide you with a list of local lenders with proven track records of great service. The prequalification process is quick and easy, and finding the right lender can be stress free with the right help. You will be in close contact with your lender throughout your home buying experience, so finding a knowledgeable lender who knows our local real estate market and your goals is important.
- Look at homes
Educating yourself on your local real estate market is the key to success. A quick home search on our site www.GregLucado.com will bring up thousands of homes for sale, but finding the perfect home for you will require some research. Greg Lucado, Realtor® will be able to share his knowledge of our local real estate market and work closely with you to narrow your search based on your priorities to make an informed decision on which home to choose.
- Choose a home
While no one can know for sure what will happen to housing values, if you choose to buy a home that meets your needs and priorities, you’ll be happy living in it for years to come.
- Get funding
The cost of financing your home purchase is usually greater than the price of the home itself (after interest, closing costs, and taxes are added). Get as much information as possible regarding your mortgage options and other costs. Having Greg Lucado, Realtor® along the way will take the mystery out of your journey.
- Make an offer
While much attention is paid to the asking price of a home, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value—or additional costs—for buyers. Putting together the best package possible in your offer to buy your home is critical. Considering all of the costs involved, Greg Lucado, Realtor® will ask the right questions that are important for you to and engage in contract negotiation to “win” the deal that works for you.
- Get insurance
No sensible car owner would drive without insurance, so it figures that no homeowner should be without insurance, either. Real estate insurance protects owners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime.
The closing process, which in different parts of the country is also known as “settlement” or “escrow,” is increasingly computerized and automated. In practice, closings bring together a variety of parties who are part of the real estate transaction. Greg Lucado, Realtor® will recommend closing companies, or settlement companies that will be the best fit for your situation and he will work closely with them to keep the communication flowing.
- What’s next?
You’ve done it. You’ve looked at properties, made an offer, obtained financing, and gone to closing. The home is yours. The home is yours….. Fast, Fair and Hassle Free…. Now it’s time to begin life in your new home and with Greg Lucado, Realtor®, the memories created are just the beginning in realizing your dreams.