Stepping over the threshold into your newly acquired dream home is one of the best moments in a lifetime. However, before you can get to that point, there are several steps you have to take to complete the home buying process. Real estate can be a tricky business, so knowing what to do to successfully find a home, get approved, make an offer and close a deal is essential to making sure you don’t end up disappointed. Following these guidelines should help to simplify the process a little more and make you a proud Redding real estate owner in no time.
Check Your Credit Score and Figure Out a Budget
Walking blindly into a bank and asking for a loan without knowing your credit score is never a good idea. You may get an unpleasant surprise in the form of a denial. Once you get your credit score numbers, begin to lay out how everything works on paper in terms of your take-home pay and total debt in order to calculate a realistic budget. This should include all associated costs such as down payment, closing fees and expenses for inspection, renovation, moving, etc.
Before you present yourself as a buyer to any Redding real estate agent or seller you should be pre-qualified and pre-approved for a loan. This will allow you to know exactly what price range you should be searching in as well as let everyone else know you’re serious about buying.
Begin a Relationship With a Real Estate Agent
Working with a real estate agent has many advantages. They have access to several properties you wouldn’t even know existed if you out there on your own. Agents take a lot of the stress of the buying process off of a potential homeowner and are experienced in assessing the actual value of a home, in the art of negotiating a sale and in getting a deal closed as quickly as possible.
Start Your Search
Once it’s finally time to begin your search, start by creating a list of all the features you absolutely can’t live without and those that would be nice to have. The clearer the idea of what you’re looking for, the easier it will be for your agent to match you up with your exact criteria and not waste anyone’s time looking at homes you have no interest in. Real estate agents have several exclusive listings and the MLS database to help aid in your search.
Make an Offer They Can’t Refuse
Finding the perfect home is exciting, but now it’s time to start the most difficult part of the process, and that’s winning the bidding war and getting your offer accepted. Research comparable homes in the area for selling prices, consult with your agent on an appropriate offer, and be prepared to go back and forth a little bit.
Go Through a Home Inspection
It’s important you don’t skip this step before making a final commitment. It’s no fun to fall in love with a house only to realize later it’s in major disrepair requiring a lot of extra monetary investment. This will be your last chance to negotiate any improvements with the seller.
Sign the Papers
Your real estate agent will help you prepare all the necessary paperwork to finish your deal without any hiccups. Be ready to sign on the dotted line and pay all closing fees.
Knowing the steps you’ll go through beforehand and getting prepared will make for a much better Redding real estate buying experience.