The SIMPLIFIED Home Buying Process

Dated: 01/07/2020

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Simplified Home Buying Process

Determine how much house you can afford.

Lenders recommend that people look for homes that cost no more than 3-5 times their annual household income. If you are financing a loan, reach out to a lender to learn about different loan programs. Get prequalified by submitting financial information to your lender, and they’ll let you know your price range. If you don’t qualify, you’ll at least know what steps to take to improve your finances.

Find the right real estate agent.

Whether you’re buying or selling a home, real estate agents are important partners to have. They can show you properties and give you helpful information on neighborhoods that isn’t easily accessible. They work for YOU and will navigate you through negotiations and the rest of the home buying process.

Shop around for your home & make an offer.

Your agent will show you homes in your price range, and you can also visit open houses. Take notes on what you like/dislike about the homes you visit. Communicate these notes with your agent, so they can help you find the best home within your budget. When you find THE ONE, your agent will draw up an offer. Your agent will guide you through counter offers, negotiations, and will open escrow with a title company.

Get a home inspection.

Your purchase offer should be contingent on a home inspection within a specified time. Your agent will help you arrange an inspection. This contingency protects you by having a trained inspector check for signs of damage on the home itself or any of the appliances. Both you and the seller will receive a report, and you can negotiate repairs or the purchase price further. Before the sale closes, you’ll have a walk-through on the home which gives you the chance to confirm repairs have been completed.

Finalize your home loan.

This important step is critical to get your home loan funded. During this time, your lender may ask for additional documents such as W2s, pay stubs, and other financial documents. It’s important that you do not open new credit cards, loans, or other credit purchases that may affect your loan pre-approval.

Close the sale.

When it’s time to close on the sale, your title company will have you sign all required paperwork, including your loan documents. After signing, your lender will take a few days to fund your loan. Your agent will order a home warranty, and you should set up your homeowner’s insurance coverage. When the funding check is delivered, and your name is recorded on the deed of the home, you are ready to move into your new home!

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JC Carrillo

Born and raised in Las Vegas, The Carrillo Brothers recognize the trust their clients place in them. With over 12 years of experience in the real estate industry, JC has been continuously ranked among....

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