10 Steps to Home Ownership

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10 steps to Home Ownership!

  1. Get Pre-Approved
    1. Why this is SO important in today’s market.
    2. What is the best kind of loan for me?
      1. FHA
      2. WHEDA
      3. Conventional
      4. USDA
      5. VA
      6. Cash
    3. Why you should know your credit score?
    4. Are grant funds available?
  2. Choose a Realtor (customer or client)
    1. Knowledgeable
      1. Is this their primary market?
      2. Understands local market trends
      3. Have they sold homes in this area before?
    2. Personality
      1. Do I like this person?
      2. Can I Trust them to work on my behalf
    3. Communication stylet that works best for you
      1. Text
      2. Email
      3. Phone calls
  3. Setting up a listing cart
    1. Bedrooms
    2. Bath
    3. Location
    4. “Comfortable” Price Range
  4. Tour Homes
    1. Likes/dislikes
    2. Needs VS Wants
    3. Does Style of home matter?
  5. Making an Offer
    1. Purchase price
      1. How long has this home been listed
      2. Other offers
        1. Acceleration clause
        2. Highest and best offer
    2. Earnest money
      1. How much & Where does it go?
      2. Who holds the earnest money?
    3. Home inspection (Yes or No)
      1. How many days for the inspection?
      2. Has the property been pre inspected?
        1. Should I inspect again?
      3. Seller Shall or Shall not have the right to cure
      4. Who is the best inspector? Does it matter?
      5. What do they look for?
        1. What is a defect
      6. How do we know the repairs are complete?
    4. Financing and Appraisal
      1. What type of loan is best for me?
      2. What happens if property does not appraise
    5. Radon Test (yes or no)
      1. What is Radon
      2. Do I need to test?
      3. What happens if it is high
      4. Who pays or it and what does it cost?
    6. Home Warranty Plan
      1. Who pays for it and What does it cover?
  6. Finalize your Financing Commitment
    1. Who delivers this to the seller?
  7. Give Notices
    1. Most Landlords require 45 days.
    2. Transfer Utilities
  8. Conduct Final Walk Through of home
    1. Confirm inspection repairs are complete and seller has provided invoices
    2. 3 days prior to closing per offer,
      1. Why the day of closing?
  9. Closing
    1. What do I need to bring?
    2. How long will it take?
    3. Personal check or cashiers check?
      1. Can we wire funds?
      2. What is Wire Fraud?
  10. Move!!
    1. Should I hire movers
    2. How Soon can I occupy
    3. Selling and Buying the same day?
      1. Can I rent Back?
      2. Should the seller rent back?