• Home Buying Steps

    Home Buying Steps,Shawn Wendtland

    Buying a home is a complex process that involves several steps. Here's a general list of things buyers should do from start to finish when purchasing a home: 1. **Assess Finances:** - Review credit score and history.- Calculate the amount you can afford using online calculators or consulting with a financial advisor.- Save for a down payment. 2. **Get Pre-approved for a Mortgage:** - Choose a lender or mortgage broker.- Submit financial documentation.- Receive pre-approval letter indicating the amount you're qualified to borrow. 3. **Research and Choose a Location:** - Consider factors such as commute, schools, amenities, and safety.- Visit potential neighborhoods at different times of the day. 4. **Hire a Real Estate Agent:** - Research and interview potential agents.- Sign a buyer's agreement. 5. **Begin House Hunting:** - Make a wish list of desired features.- Tour homes with your agent.- Attend open houses (if asked to sign-in, do so with your agent’s information so there is no confusion, and/or make sure to tell them who you are already working with). 6. **Make an Offer:** - Discuss a fair offer with your real estate agent.- Submit the offer in writing.- Negotiate terms if necessary. 7. **Home Inspection:** - Hire a professional home inspector.- Review the inspection report for potential problems.- Negotiate repairs or credits with the seller based on the report. 8. **Finalize Mortgage Application:** - Submit any additional documentation requested by the lender.- Wait for the mortgage to be underwritten and approved. 9. **Order a Property Appraisal:** - The lender will typically order this to ensure the property's value meets or exceeds the purchase price. 10. **Obtain Homeowners Insurance:** - Shop around for quotes.- Choose a policy and provide proof to your lender. 11. **Title Search and Insurance:** - Ensure the property doesn't have any liens or disputes.- Title insurance protects against potential ownership disputes in the future. 12. **Pre-Closing** - Update your address with relevant institutions (e.g., post office, bank).- Set up the Utilities to ensure everything is on/operating, and in your name, on the date of closing.- Schedule and coordinate the move. 13. **Final Walkthrough:** - Visit the home shortly before closing to ensure it's in the agreed-upon condition. 14. **Closing:** - Review and sign all closing documents.- Pay closing costs and down payment.- Receive keys to your new home! 15. **Move-In:**. - Familiarize yourself with the home's systems and any maintenance requirements. 16. **Celebrate:** - You're now a homeowner! Enjoy your new home.Note: This is a general overview, and steps might vary based on location, specific circumstances, or individual preferences. Always consult with professionals during each phase of the process.

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  • Home Selling Checklist

    Home Selling Checklist,Shawn Wendtland

    Selling a home is a comprehensive process with numerous steps. Here's a general list of thingssellers typically need to do from start to finish when selling their home: 1. **Determine Motivation and Timeline**:- Decide why you are selling (e.g., upsizing, downsizing, relocation).- Determine when you want or need to move. 2. **Research the Market**:- Look at comparable homes in your area (comps) to gauge the market value.- Consider the current state of the real estate market (buyer’s vs. seller’s market). 3. **Choose a Real Estate Agent**:- Research and interview several agents.- Select someone with a strong track record and knowledge of your local market. 4. **Prepare the Home**:- Declutter and depersonalize.- Make necessary repairs.- Consider updates or renovations that could increase the home's value.- Stage the home to make it appealing to potential buyers. 5. **Set a Price**:- Use market research, comps, and advice from your real estate agent to set a competitiveprice. 6. **List the Home**:- Make sure your agent takes professional photographs.- Writes a compelling listing description.- Posts the listing on multiple platforms, including MLS, real estate websites, and social media. 7. **Market the Property**:- Host open houses.- Schedule private showings.- Promote through social media, ads, and local real estate publications. 8. **Negotiate Offers**:- Review offers with your agent.- Decide whether to accept, reject, or counteroffer.- Consider terms beyond just price, such as contingencies and closing dates. 9. **Accept an Offer**: -Sign a purchase agreement.- Notify any other interested parties. 10. **Navigate the Inspection and Appraisal**:- Allow the buyer's inspector to evaluate the home.- Make any agreed-upon repairs.- Await the appraiser's valuation to ensure it aligns with the agreed-upon sale price. 11. **Finalize Financing**:- The buyer will work with their lender to finalize the mortgage.- You might need to provide additional information or documents. 12. **Prepare for Closing**:- Ensure all repairs and conditions from the purchase agreement are met.- Begin packing and clearing out.- Notify utility companies, postal services, and others of your upcoming move.- Update your address with necessary institutions (banks, credit cards, etc.). 13. **Move Out**:- Ensure you’ve removed all personal belongings before closing.- Leave the home clean for the new owners. 14. **Closing**:- Review and sign all necessary paperwork at the closing meeting.- Hand over the keys to the buyer. 15. **Post-Sale**:- Keep records of all sale-related documents for tax purposes.Each home sale is unique, so the specifics may vary depending on location, market conditions,and individual circumstances. However, this list provides a general overview of the stepsinvolved in the process.

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