Guiding you throughout the home buying process from preparing your finances through to the closing table. I, The Real Estate Panda have a network of highly reputable people by my side to get you through each and every step. I will share with you a home buying checklist so you can follow along during the whole process. Know what is to happen next to always be prepared.
Prepare Your Finances | Find the Loan for you | Get pre-qualified
It’s important to know what you can realistically afford. Use a mortgage calculator to estimate your budget given your income, debt, savings and other financial obligations.
Be sure to check your credit score and your debt to income ratio. Keep in mind that many lenders like to see 36% debt-to-income ratio.
Know your timeline, how soon do you want or need to move? What is most important to you, location, type of home, schools, etc. Know your wants, needs, and desires for your home ahead of time so that you can more easily share these details with me, your local real estate agent.
Find Your Ideal Home | Submit an Offer | Inspect and Negotiate
Discuss with me; your Needs, (i.e. number of bedrooms, bathrooms, etc.), your wants, (i.e. things you prefer like a west facing patio), and anything else important to you.
At this point, you can kick your feet up for the most part. I will be in contact with you while I search homes that closely match what you’re looking for and schedule the showings according to your availability.
Once we find the one, I’ll assist with the offer, negotiations, inspection scheduling, and any thing else that comes throughout the process.
Note: Home inspections normally take place after the contract is accepted by all parties. The cost of inspections is typically paid by the buyer and varies in price.
Completing Your Path Home | The Closing
This is where you will select the type of loan with your mortgage lender. Most often the lender will arrange a third party to appraise the home. An appraisal is important as it shows all parties involved that you are paying fair price for the home.
As the closing date nears, buyers will need to switch utilities over to their names.
Closing takes place at the office of the buyer’s attorney. Where you, the buyer, gives your attorney certified funds to pay for closing and sign the loan papers and other required documents. Once deed is recorded and seller receives balance of the funds you are officially ready to move in!
NOTE: There is a lot that happens from the start of your path to the closing table. This is a summarized version and does not list all that will or could take place.