You may have read yesterday and thought, this is great, but I am buying a home for the first time… what do I need to do? So I have outlined the steps to your transaction below:
- Do Your Homework — Determine you needs and wants. Prioritize.
- Interview and select your Buyer’s Agent
- Understand the Current Market Conditions
- Get Pre-Approved by a Lender
- Decide on an Efficient Search Plan
- Conduct a Proactive Home Search
- Find the Right Home
- Prepare a Market Appropriate Offer
- Negotiate the Contract
- Exercise Due Diligence and Investigate
- Obtain Final Loan Approval
- Resolve Contingencies
- Perform the Final Walk Through
- Sign Closing Documents
- Close Escrow, Take Title and Start Moving!
Similar to the home sale process, the buyers agent that you hire should be able to explain these steps to you as you move through the real estate transaction. I recommend hiring an agent that specializes in helping buyers. Again, it’s important that you ask questions if you do not understand parts of the transaction to avoid miscommunications and misunderstandings later on.
Later this week, I will also break down these steps for you in greater detail. Most importantly, remember that the best time to get a good deal is anytime you recognize it!
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Tags: first time home buyers, home buyer checklist, san mateo county real estate, san mateo home buyer, steps to buying a home
Raymond Stoklosa, Broker/Co-Owner
Chela Stoklosa, Realtor/Co-Owner
