Home Buyer Flow Chart: The most common questions buyers want to know is how to get started and what the home buying process is all about. What are the benefits of buying a home verses renting? I put together this Home Buyer Flow Chart to illustrate what happens in the process.
Step One: Decide To Stop Renting
Step Two: A mortgage pre-approval certificate will be necessary to make an offer and a knowledgeable lender will guide you with what you are comfortable with verses what you can afford.
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Step Three: Hire A Buyer Agent
Why do you need a buyer agent? There are many reasons to hire a buyer agent. Sellers will have an agent representing their best interests and will not be representing yours. Your agent will have the experience to guide you in the process and make sure your interests are protected too.
Step Four: The internet is a wonderful thing for searching properties for sale and it can be a curse at the same time. Your agent will know the market and the neighborhoods that will best suit your wants and needs and will be on top of all the available listings for you.
Step Five: You have searched and found a property you would like to make and offer on. Your agent will be able to help you research the actual value of the property and with due diligence help you write a winning offer.
If you and your agent are successful with your offer, you’ll move on to the “contingency phase” and if not, you will keep looking.
Step 7: Contingencies
Your agent will help you choose and schedule a home inspector to evaluate the condition of the home. If all is satisfactory, your lender will help you finalize your financing.