THE HOME BUYING PROCESS

Top rated school districts, great municipal services, convenient public transportation are a small number of factors many consider when choosing where to live and which home to buy.  As a licensed REALTOR®, I will be with you every step of the way, from helping you narrow your search to guiding you through the negotiation process.

Kitchen Interior
Modern Bathroom
Country Style Home
Empty Room
Family Viewing House
Modern Kitchen
 

THE 7 STEPS TO BUYING A HOME

STEP 1:  START YOUR RESEARCH EARLY

Find a buyer’s agent professional who knows the Real Estate Market in the area you want to live and who will represent you when it is time to negotiate a contract. A buyer’s agent is a very important partner when buying a home because they will provide the buyer helpful information on homes and neighborhoods that isn’t easily accessible to the public. And best of all, it doesn’t cost you anything to use a buyer’s agent –they are compensated from the commission paid by the seller.

STEP 2:  GATHER UP YOUR FINANCIAL INFORMATION FOR A LENDER

TO REVIEW SO YOU CAN GET PRE-QUALIFIED

 

The mortgage lender will need to review your credit score, two years of tax returns, pay stubs, current W-2 statements, bank statements and your income to debt ratio before giving a pre-approval letter.


STEP 3:  GET PRE-QUALIFIED BY A LENDER TO DETERMINE HOW MUCH YOU CAN AFFORD

 

Lenders generally recommend that buyers look for homes that cost less then three to five times their annual household income.


STEP 4:  FIND YOUR HOME AND MAKE AN OFFER

 

Let your buyer’s agent start showing you homes in your lender approved price range and desired area. It is helpful to take notes on all the homes you visit. If you take pictures or video you will need to get the sellers approval first. Take as much time as you need to find that right home. Then work with your buyer’s agent to negotiate a fair offer based on the value of comparable homes in the same neighborhood. Once you and the seller have reached agreement on price, the house will then go under contract.


STEP 5:  GET A HOME INSPECTION

 

Typically, purchase offers are contingent upon a house inspection to check for structural damage or things that may need fixing. Your buyer’s agent will arrange for the inspection usually within three days after the contract becomes binding. Review the inspection report and make a list of those repairs that you want done before the closing. Give the list and, optionally, the inspection report to the seller. Usually a day or two before the closing, you and your buyer’s agent will do a house walk-through to make sure all agreed-upon repairs were done.


STEP 6:  PREPARING FOR THE CLOSING

 

After the inspection and or all contingencies have been met, the lender will begin the process of getting your loan finalized. Lenders have a wide range of competitively priced loan programs to choose from. Every home buyer has choices in selecting a mortgage. Choose the one that best meets your needs. Usually within a couple of weeks before the closing your lender will arrange for the appraiser to provide an independent estimate of the value of the house you are buying. Just before the closing, the closing attorney will do a title search to make sure that the seller is the rightful owner of the house you are buying.


STEP 7:  CLOSING THE SALE WITH A REAL ESTATE ATTORNEY

 

At the closing attorney’s office both the buyer and seller will sign all of the paperwork required to complete the purchase, which includes the buyer’s loan documents. At the closing you will then receive the keys to your new home. 

 

HELPFUL DOCUMENTS FOR HOME BUYERS

7 STEPS TO BUYING A HOME

STAYING SAFE & HEALTHY DURING THE BUYING PROCESS

THE BUYERS COMPLETE GUIDE BOOK

 

COMPLIMENTARY HOME SEARCH

Feel free to use this link to search for available homes and other real estate anywhere in the state of Georgia.  

I'm also available to help streamline your home search and answer any real estate questions you may have. 

 

Bracey Properties

Cell: 770-843-2617 Office: 770-495-5050

2400 Herodian Way, Suite 260, Smyrna, GA 30080

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