10 Step Guide to Buying A Home
STEP 1: TALK TO A LENDER
To get prequalified, you just need to provide some financial information to your mortgage lender, such as your income and the amount of savings and investments you have. This will tell us the price range of the homes you should be considering and allows you to feel comfortable with the down payment and closing costs. We have local lenders that we can recommend in our Buyer Consult.
STEP 2: FIND A REALTOR
That’s Us! Every member of The Kat Drerup Team is a licensed realtor. We are your biggest advocate in the search for your home and in the negotiation process. We know the market inside and out and can guide you in the process.
STEP 3: START YOUR RESEARCH
Start paying attention to what is happening in the area – this is easy because we will set you up on a personal search of the MLS (multiple listing service) so that you receive daily email updates of the houses that fit your criteria. We will also send you off-market properties and share homes that are specific to your needs.
STEP 4: SHOP FOR YOUR HOME
Get in the car! It’s time to go shopping. We like to provide clients with a print-out of each home we see with specs like the number of bedrooms and bathrooms, the age of the roof and HVAC, as well as other factors that will impact your decision to make an offer. We like to narrow this down to the very TOP homes in your search (it gets confusing if we see too many).
STEP 5: GET A HOME INSPECTION
Typically, offers are contingent on a home inspection of the property to check for signs of structural damage or needed repairs. We will coordinate an inspection promptly after we go under contract. The home inspection reveals significant material damage and protects you by giving you a chance to get a professional opinion. We will ask the seller to repair certain things that come up on the inspection report and negotiate the terms.
STEP 6: STAY ON TOP OF PAPERWORK
It is important to get all your documents turned into the lender in a timely manner. This is your homework during the transaction. We handle the rest and prompt you for next steps on the real estate side. Just turn in your paperwork!
STEP 7: WAIT FOR THE APPRAISAL
Lenders will order an appraisal that will provide an independent estimate of the value of the home you are buying to make sure the property is worth the amount of money that will be loaned. This is a safety net to verify that the amount you have agreed to pay for the property is fair and reasonable. The appraiser is not directly associated with the lender or me. You don’t need to do anything, this is done by the lender.
STEP 8: TRANSFER UTILITIES
The week of closing you will want to transfer utilities in your name. Also, keep turning in documents to the lender!
STEP 9: CLOSE ON YOUR HOME
On closing day, we will go to the attorney’s office and sign paperwork required to complete the purchase. This will take about an hour - there might even be a few photo opportunities! You will receive the keys to your new home at this time. We will also be there, as promised, every step of the way.
STEP 10: WRITE A REVIEW + TELL YOUR FRIENDS
We know you want to ride off into the sunset with your beautiful new home, but don’t forget about us! We work very hard to make this transaction easy, enjoyable and fun. It brings us such joy to have happy clients. Reviews are what set The Kat Drerup Team apart. We also work 100% on a commission and referral basis. The only way that we get to continue to help people is if you refer us to your friends and family. Please let us know who else we can help buy or sell that you might know!