BUY A HOME
Purchasing a home may be the largest and most complicated process you will make in your lifetime. We would love to work with you if you are buying a home in either a Stark or Summit Counties. Buying a house may be the most complicated financial process of your entire life. Luckily, we’ve broken it down into 8 straightforward steps:
READY, SET, GO!
There are many steps, and over 20 professionals that will work on your purchase before you are closed. Knowledge is everything. Surround yourself with the best information that you can. Contacting our office is the first step. We will connect you with the team of reliable professional to guide your through the process from “Contract to Closing.”
CHOOSE YOUR REALTOR
In Stark County, and its’ many suburbs of Jackson, North Canton and Plain Townships, to name a few, you will have many choices in choosing your realtor. You will be working closely with your chosen agent, so you will need to be comfortable with their style and be able to communicate clearly with him or her. This works best if the realtor you use is knowledgeable, available, and dedicated to your success. If you don’t find someone that fits all of these qualifications, keep searching for the right realtor for you.
When you find the right one, do not be afraid to sign a buyer’s agreement. This means that he or she will represent your interests in any real estate related transactions that you enter for a specific period of time. Signing this agreement shows the realtor that you are a serious buyer and that you are as dedicated to your realtor as they are to you!
Be sure that the professional that you choose, has specific knowledge in the geographic area that you want to purchase. Your agent should also have experience with the type of purchase you want to make. If you want to buy in Jackson Township, be sure that your realtor has the experience and knowledge to help you find a home in that area. Similarly, if you are looking for an investment property, you may want to find an agent with this type of experience. Never be afraid to ask questions.
FIND A LENDER
Your Realtor can be the key to the best lenders in your marketplace. You can also consider your local bank, but be sure to compare your options. Most first time buyers will need to finance their purchase. The lender can be a crucial part of your transaction. The lender should provide you with a pre-approval. This means that they have looked at your bank statements, taxes, income and credit, and feel reasonably confident you are prepared to be a homeowner. Do not mistake the Pre-Qualification with the Pre-Approval. The Pre-Qualification is merely an opinion that the information you provided the lender is complete and accurate. There are often errors and corrections that need to be made to your file prior to you start shopping and making offers on homes. Be sure you are ready.
SEARCH FOR HOMES
Focused searching on the internet will help you educate yourself on the prices on homes in the areas you are interested in. You will be able to see what homes with the amenities that you are looking for are currently selling for. Your Realtor will help you narrow your choices and show you the very best of the homes that you have chosen. Remember that the loan type may narrow the properties that you can purchase. Consult with both your Lender and your Realtor for specifics.
CHOOSE A HOME
While no one can know for sure what will happen to housing values, if you choose to buy a home that meets your needs and priorities, you’ll be happy living in it for years to come. Your Realtor will provide you with a "Comparative Market Analysis" to help you compare the property you have chosen with the properties previously sold, and with the ones currently available on the market. This process will help you understand the value of your property. It is also a guideline to help you with the offer process.
Always consider Inspections that may uncover information about your chosen property that you need to know. Many of the items found in the inspection are informational in nature and will help you to understand the maintenance that may be needed years from now. The inspection may also reveal issues with the home that even the seller is not aware of. You will need to consider the information revealed through inspection and decide if you want to move forward with the purchase, re-negotiate the contract, or walk away from the property. This is a very important stage of the process.
FINANCING YOUR PROPERTY
Once you have an agreed contract price, your lender will be underway working on the financing of your property. They will ask you for details in your finances and documentation of your income. It is imperative that you provide your lender with the information that they need in a timely manner. It will insure that you transaction closes in a timely manner.
The closing process, is also known as “settlement” or “escrow,”. This is the time when you will sign your final mortgage papers and pass the balance of the funds that you owe to the title agency or real estate attorney. In turn, the responsible party will be sure that there is clear title to your property and will make sure that the property is filed in the appropriate manner. Now you are a homeowner. Enjoy your new home.