Steps to buy a property
A few steps to buy a propertyWith us you can quickly and efficiently find and buy any property you dream of. Below you will find a few simple steps to help you to choose the home right for you and close the best deal.
Considering the purchaseImagining you new home is the most pleasant and fun part of buying process. What house do you want? How many bedrooms do you need? Define the type of property – condo or a house. Should it be a small house or a big house with five bedrooms and even pool? Do you want a newly build home or re-sale? What neighborhood attracts you? You should decide on these details before starting your search to narrow and facilitate the search among thousands of home offered.
Get professional guidanceAfter you have decided on the type of property you would like to buy, you should consider what amount of money you need and what you can afford. At this step you have to meet with mortgage specialist at any bank or any financial institutions offering such services to determine how much you will need to buy your dream home and how much you can afford for it. Your mortgage specialist will evaluate your financial situation and will help you to draw up your mortgage pre-approval document. This document will establish how much money this institution can lend to you. After you have this document at hand you know what you are able to purchase.
Start searching your dream houseNow you should find the property you dreamt of within the limits of amount lent to you by financial institution. In reality this is a more complicated issue than it seems to be. First, we recommend people to fulfill some research and make appointment to see a few houses before making the final decision. It is quite possible that you will have to see dozens of houses before finding the one that is for you. It is advisable to make a small plan with all your personal requirements where you can make notes every time you see a new house. When assessing the house you should pay attention to the internal structure of the house not on the decoration or furniture. Also, do not take into account the color in the rooms as you can change it any time after the purchase.
Legal adviceWe recommend you to contact the lawyer specializing in the domain of real estate. Because the lawyer shall help you make an offer to purchase and he will explain to you about any outstanding payments as taxes and liens on the property.
Negotiating the DealYour real estate lawyer will help you to make and submit the Offer Document. You can also find the offer samples in the Internet. After that you send your Offer to the Seller. This document shall include all terms, the final price, conditions and exceptions of the purchase contract. After the Offer is received by the Seller, the latter can accept, reject or propose his/her conditions on your Offer.
Why a Home Inspection?You should arrange a professional home inspection. If you are buying a home, a home inspector will ensure the systems and foundation of the home are free from severe damages that may increase your liability in the future. Likewise, if you are selling a home, failing to receive a satisfactory home inspection will make it very difficult to sell your property.
General home inspection items include:
- Structural elements of the home (walls, ceilings, floors, roof, foundation etc)
- Exterior (landscaping, grading, drainage, windows, trim etc)
- Roofing (ventilation, framing, gutters etc)
- Plumbing (drain, waste, pipes, toilets, showers, sinks etc)
- Electrical (circuit breakers, main panel, wiring, grounding, exhaust fans, light fixtures etc)
- Appliances (dishwasher, oven, garbage disposal etc)