The Home Buying Process
Whether you’re a first-time home buyer or a veteran, buying a home is a complex process. A Patrick Parker Realty Sales Associate can help you through the entire process of buying a home, starting with the mortgage and continuing right through closing – and beyond.
Allow us to walk you through the major steps of the home buying process. By providing you 100% buyer representation we will be there, as your home buying advocate, to guide you through this journey.
Get Preapproved for a Loan
Obtain a copy of your credit report and your FICO score and, if necessary, do what you need to do to improve it. The higher your FICO score, the better interest rate you can command. You can get this information online; your Patrick Parker Realty agent can also help you. Contact several lenders and determine which one will give you the best deal.
Determine Your Price Range
By now you should have a good idea of how much home you can afford. This helps you narrow down your home search.
There are several free online affordability tools available to you, or your Patrick Parker Realty agent can help you determine an “affordable” home price. For your convenience, the Patrick Parker Realty website allows you to target your home search by price range directly from the homepage.
Determine Areas Where You Are Interested
You should also begin researching the neighborhoods in which you might want to live. When presented with the option of going with a national brokerage or a local firm consider how important it is to have someone representing you immersed in the very community in which you live.
You benefit from working with an agent who is invested in the community. Patrick Parker Realty is your local market leader in real estate and knowledgeable of local market trends. When we work with you to uncover your wants and needs in your new home, we will also be able to unearth every last detail of the Communities you are interested in.
Get started researching some of the communities we serve.
Define Must-Have Amenities and Features
How many bedrooms and bathrooms do you want? Would you prefer a newer home or an older one with established landscaping? Are hardwood floors a must? Proximity to major transportation? Proximity to the water? Is an updated kitchen important to you? Walk-in closets? Which features would you be willing to give up if you find the otherwise-perfect home?
Your Patrick Parker Realty agent will also advise as to potential, something others overlook. If you can get a home that lacks some of your must-haves at an absolute steal, you can do the upgrades and come in under budget with all new amenities.
Right here on patrickparkerrelaty.com we offer the convenience of searching for properties by feature.
Begin Testing the Market
You can find listings that meet your criteria and have our system continue to search your criteria and alert you automatically by email as soon as a new listing that is a fit hits the market. Then, take an afternoon and go on a driving tour. See what’s available in your price range and explore neighborhoods.
With Your Agent, Begin Seriously Looking at Homes
Your Patrick Parker Realty agent can add to the list of homes you’ve already identified – including ones that have just come on the market. Look at homes with a critical eye – does the floor plan work for you, is the property in good condition, would it be right for your lifestyle? In short, can you imagine yourself and your family living there?
Take notes at each home you visit. What do you like and not like? Narrow down your choices; re-visit homes in which you’re interested. See them at different times of the day and in different weather conditions.
Make an Offer
When you’ve identified the home you want to buy, be prepared to help your agent prepare a written offer quickly. We are already familiar with market values and will help you arrive at a price that gives your offer the best chance of being accepted.
At this stage, try not to become emotionally attached to a home. Your offer may not be accepted for any number of reasons. Have backup homes in mind. Be prepared to negotiate through your agent with the sellers.
Learn more about the negotiation process.
Once Your Offer Is Accepted:
- You’ll be asked to submit an earnest money deposit that usually isn’t refundable.
- Begin making moving arrangements (select a mover, obtain change-of-address cards, and inform friends and relatives).
- Have the property professionally inspected.
- If necessary, request repairs.
- Obtain homeowner’s insurance.
- Contact utilities (phone, water, power, etc.).
- A few days before closing, stage a walk-through.
- Obtain a cashier’s check for the down payment and closing costs.
- Make sure the terms and conditions of the loan statement are correct.
- Carefully read everything before you sign.
Why You Should Use a REALTOR® in Your Home Search
Buying a home is probably the largest investment you’ll make in your lifetime. Having an experienced, knowledgeable Patrick Parker Realty professional representing you in this transaction just makes good sense.
This can be a life-changing event. Patrick Parker Realty agents fully understand the real estate process – and just as important, we understand your local market. We not only know the right steps to take, but we can also help you avoid a misstep in the process. If a new freeway is going to be built a few blocks away, we’ll know it. If you’re unsure about school districts, we’ll be able to direct you to answers. If you’re unsure of a builder’s reputation, we’ll know how you can confirm it.
Your Patrick Parker Realty agent also performs another important function: minimizing the emotion involved in a home transaction. You may be in love with a home, but your agent can point out factors that might not make it right for you. Sometimes it’s good just to have an objective, professional beacon.