by Jeff Graham, Nebraska Home Sales Realtor
You’ve decided to buy a home. CONGRATULATIONS! There’s a number of generic steps you should know about when embarking on this adventure.
First is banking. It seems obvious, but many buyers don’t give it enough thought. Sellers are looking for a buyer who can perform. So the first thing to do is to visit a financial institution or two and become pre-qualified or pre-approved for a loan.
Second, do you have a house you want to sell? Talk to your agent about this and put a plan together!
Third is looking at houses! Your agent will need to know what characteristics you’re looking for. Number of beds and baths, what neighborhood or part of the city, square feet, ranch or multi-level, new construction, and so on.
Fourth. You’ve found a home you like, and it’s time to make an offer. Either the offer is accepted as is, countered, or rejected. After an offer is accepted, the home goes under contract.
Fifth. At this point, you will be meeting with your bank to start the loan process that includes an appraisal. You review inspection results and negotiate for repairs or compensation. Presuming a good outcome of the negotiations, you wait on the bank appraisal results.
Sixth. When the appraisal comes back, the bank moves forward with the loan, or not. If not, the buyer may come up with the extra cash needed to make the purchase, or negotiate with the seller to adjust the sale price.
Seventh is waiting on the bank and closing date. Think about when to deal with moving your children from one school to another and scheduling a moving company. Don’t forget to schedule changes in utilities, set up trash and internet service, and change your mailing address.
Eighth is closing day. I love closing day. You get new pens to keep, and many closing companies have cookies on the table. You spend an hour signing documents, turn over a check, and receive the keys to your new home! After the closing is completed, it’s time to drive to your new home and start building some great memories!v