What to Expect When Buying a Home
Buying real estate is a process, and it’s one we’ve walked hundreds of buyers through. Here’s a quick look at the home buying process.
Finance & Budget
First things first, you need to get a solid sense of your budget. Start by meeting with a lender and getting preapproved. Take time to run the numbers, determine a monthly payment you’re comfortable with, and setting a budget.
Find a Real Estate Agent
A real estate agent, or broker, will help you identify your needs and wants, then set up a property search to begin the hunt. Your agent is a key resource throughout the home buying process, so make sure you work well together, then communicate openly with them.
Search for Homes
Stay in touch with your agent. Keep in mind that spring is the hottest time of the year for property listings, so you’re likely to see the most inventory from March to May.
Make an Offer
Finding a property you love is a big step. At this point in the home buying process, your agent will write up and submit an offer. You’ll have the opportunity to include earnest money (generally 1-3% off the purchase price) to solidify your commitment to the offer. The seller will take the property off the market to other buyers in order to allow you to organize contingencies like financing, inspections, title review, and time to close.
We always recommend a home inspection. This is a non-refundable cost performed at the buyer’s expense (usually $400 to $600) within the first 7 days of going under contract. This will give you a comprehensive look at the true condition of the home and allow you the opportunity to revise your offer accordingly.
At this point, you’re almost done with the home buying process. With your agent’s help, you’ll walk through title and escrow, sign on the dotted line with the lender, and get the keys to your new home!
Let’s get started on your next journey! Fill out the contact form or call us at (360) 568-2181, and let’s get in touch!
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1030 Ave D #5 Snohomish, WA 98290