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Buying a home?

The step-by-step process to buying your next home.
by

Orlando Realty Professionals

on 18 November 2013

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Transcript of Buying a home?

Are you looking to purchase a new house?
We understand that buying a new home can be a confusing and stressful time.

To help alleviate that stress and confusion, we have broken down the process into
Four Steps
to help you understand the process a little better.
Let's start the process of buying your new home!
Searching for the Right Home
Step 1: The Search
When searching for your new home there are a few things to consider:
Determine your needs
View the Home
Search for a House
After you have determined your needs, you get to start the search for your new home. Exciting!

Search everywhere possible for the home of your dreams. Search online, newspapers, neighborhoods, and ask your friends. In a competitive market, you have to stay on top of new listings that fit your criteria to find a great home that suite your needs.

At Realty Professionals, our agents are here to help make your searching efforts more successful and faster. Though websites are a great way to see many properties, our agents are able to view properties that may not be listed publicly. As always, our agents are here to help you through the whole process and ensure that you find the home you always wanted.

Making an Offer
Buying A Home
Step 2: Making the Offer
Making an offer on a home can be a long process from beginning to end. Here are the steps you take to ensure your offer is accepted.
Preparing the Offer
So your ready to make an offer. Great!

The "Offer to Purchase" is a legal document that is encouraged to be prepared by a registered agent and/or lawyer.

The offer is based on the home inspection and financing. It is also going outline what is included in the sale, such as the appliances that come with the property, pool, etc.

Now you need to present it.
Presenting and Negotiating the Offer
Your offer will be presented to the seller by your agent. In addition to presenting your offer, a small deposit will be held by your lawyer in an escrow account to prove that you are a serious buyer.

The seller has the ability to accept, reject, or return a counter offer for you to consider. You then have the ability to negotiate by raising your offer, changing the conditions, or simply accepting the counter offer presented.

Our agents are here to ensure a smooth negotiation is worked out, and answer any questions you may have pertaining to your offer.
Accepting the Offer
Negotiating can be a long, tedious process for both the buyer and the seller. Going back and forth with condition and price changes can leave you wondering if you will ever settle.

Once you and the seller have come to an agreement, you and your agent will be notified.

Congratulations, your offer has been accepted. Now to find a lender.
The Loan
Step 3: The Loan
Finding a lender and getting your mortgage approved can be a tedious time. Here are the steps to help you get closer to closing on your new home.
Finding a Lender
After your offer has been accepted, you will need to find a lender. A lender is going to go search through your financial details to help build your mortgage application.

Your lender should inform you about your terms, interest rates, types of mortgages, amortization periods, and payment schedules that may be available.
Get Approved
Once you have completed your mortgage application, your mortgage is reviewed for approval.

The approval process can vary in time. Ensuring that you have all the documents needed and in order will
Obtain Additional Information
The
Closing

Step 4: The Closing
It is almost moment you have been waiting for. Just a few steps till you become a home owner.
Pay the Down Payment
It is closing day! The day that you have been waiting for.

In most cases, you will meet at your lawyer's office to sign the closing documents. At this time you must give your lawyer the down payment, less the deposit that accompanied your offer.

Along with the down payment, you will be entitled to pay additional costs such as legal fees, land transfer tax, and appraisal fees.
Pay the Seller
Congratulations!
Your a Home Owner.
We believe buying a home should be a great experience for everyone. We offer the best service for our clients and strive to find you the best home to suite your needs.

If you have any questions, please give us a call at
XXX-XXX-XXXX, and let us help you find your next home.
Realty Professionals
Contact
CTA's
Social Outlets
Deciding what you need in a new house is an important part of looking for a new home. There are many factors to contemplate when looking for your new home.

Things to consider: How much space do you need, do you want a backyard, children's schools, location.

Lastly, you need to think about your budget and your down payment. When it comes to your budget, you need to take into consideration the additional costs of buying a house. These costs can include: legal fees, appraisal, fees, inspection fees, etc.
Viewing a property is essentially the final part to making a decision on a home. Our agents encourage our clients to walk around the home and get a feel for the lay out.

Our agents will walk you through the home inside and out to ensure that you get to look at the property in its entirety. We allow for you to take your time walking through the home and will offer MLS information prior to viewing.

When building your mortgage application, there may be additional information your lender may need to complete the process.These can include the appraisal of your property, house inspection, title search, land survey, and title search.

The cost to retrieve this information will be due at closing.
Your almost done!

Now it is time for the lender to provide the mortgage money to your lawyer, who in turn will deliver to the seller.

After the transaction is finalized, your lawyer will register the house in your name.
Your lawyer will provide you with the deed to your property and the keys to your new home.
...Step-by-Step
Full transcript