One of the most popular architectural styles in the Downriver and Monroe County area is the ranch style home. First built in the 1920's, the ranch-style home gained huge popularity among the
Steps To Home Ownership
Whether you're a first-time home buyer or you've done this a few times, the process is the same...
- Financing. In order to know which homes to show you, a Buyer's Agent will need to know what type of financing you are planning to use for your home purchase. The first step should always be to discuss your buying plans with a mortgage lender (unless you plan to pay cash for your next property). Your mortgage lender will help you decide what type of mortgage will work best for you, help you determine if you qualify for any special loan or down payment assistance programs, and will prepare a Mortgage Preapproval Letter for you, which will be necessary when you're ready to start touring properties.
- Putting Your Team Together. Once you're ready to start looking at homes, you should select a Buyer's Agent and work exclusively with that agent during your home search. your Buyer's Agent will help you find homes, set up custom email searches, research homes, set showing appointments and home tours, prepare reports to help you research properties, and prepare the written offer for your signature when you've found the right property.
- House Hunting. Your Buyer's Agent will schedule showings and map out a route when you're ready to get inside some homes. Keep in mind that some homes may be occupied by the seller, and sometimes the seller will insist on being present in the home when you visit. Don't let that intimidate you - you're there to buy a house! Be respectful, but feel free to check the closet sizes or peek behind the shower curtain. You want to know what you're buying. Finally, keep in mind that not all online real estate searches are accurate or up-to-date. Refer to your Buyer's Agent for the most accurate home listing information.
- What to Expect When You're Ready to Make an Offer. Your Buyer's Agent will prepare the offer paperwork for you to sign. Your agent will also help you with pricing, contingencies to request and offer terms for the purchase agreement that benefit your buying needs. You'll be expected to put down an Earnest Money Deposit that will go towards your purchase price if the offer is accepted.
- When Your Offer Is Accepted. Your Earnest Money Deposit check will be cashed and the actual process of buying a house has officially begun. Most buyers are concerned about out-of-pocket costs at this point. Expect to pay for private inspections and an appraisal if you are financing your home. Your agent and lender can help answer questions about costs at this time. For the next few weeks it will seem as if time is standing still and the process is taking forever, but be patient - you'll be closing on your new home soon!
- What to Expect at Closing. While getting to this point seems like it took a long time, by contrast, the closing will go very quickly. The Buyers and Sellers meet (typically at the title company or an attorney's office). The closing officer and sometimes the lender is present. There's a lot of paperwork to sign (particularly if the Buyer is getting a new mortgage), and if all goes well the Seller hands over the keys to the Buyer's new home and everyone (hopefully) leaves happy.
If you're looking for an experienced and dedicated Buyer's Agent to help you find your next Monroe County or Downriver home, please get in touch! I have over 10 years of experience helping buyers with their home purchase. And, as an Accredited Buyer Representative (ABR), I have additional training and knowledge to help get you where you want to be!
For most people, a home is one of the largest purchases they will ever make. My clients hire me to make the process of buying or selling their home go as smoothly as possible. At the end of the tran....
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