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Although there are many good reasons for you to buy a home, wealth building ranks among the top of the list. We call home ownership the best “accidental investment” most people ever make. However, we believe when it is done right, home ownership becomes an “intentional investment” that lays the foundation for a life of financial security and personal choice. There are solid financial reasons to support your decision to buy a home, and, among these, equity buildup, value appreciation, and tax benefits stand out.
Base your decision to buy on facts, not fears.
The typical real estate transaction involves about 65 separate individuals such as insurance assessors, mortgage brokers and underwriters, inspectors, appraisers, escrow officers, buyer’s agents, seller’s agents, bankers, title researchers, and a number of other individuals whose actions and decisions have to be orchestrated in order to perform in harmony and get a home sale closed. It is the responsibility of your real estate agent to expertly coordinate all the professionals involved in your home purchase and to act as the advocate for you and your interests throughout.
Seven main roles of your real estate agent:
While you may find the thought of home ownership thrilling, the thought of taking on a mortgage may be downright chilling. Many first-time buyers start out confused about the process or nervous about making such a large financial commitment. From start to finish, you will follow a six-step, easy-to-understand process to securing the financing for your first home. There are six steps to Financing a Home:
You may think that shopping for homes starts with jumping in the car and driving all over town. And it’s true that hopping in the car to go look is probably the most exciting part of the home-buying process. However, driving around is fun for only so long-if weeks go by without finding what you’re looking for, the fun can fade pretty fast. That’s why we say that looking for your home begins with carefully assessing your values, wants, and needs, both for the short and long terms. We will work with you to refine your needs during your Initial Consultation.
Questions to ask yourself and communicate to us:
When searching for your dream home, you were just that-a dreamer. Now that you’re writing an offer, you need to be a businessperson. You need to approach this process with a cool head and a realistic perspective of your market. The three basic components of an offer are price, terms, and contingencies (or “conditions” in Canada).
Price - the right price to offer must fairly reflect the true market value of the home you want to buy. We will guide you in this decision.
Terms - Terms of the contract fall under six basic categories in a real estate offer:
Contingencies - There are basically 4 areas of contingencies. These allow you to cancel the contract.
Unlike most major purchases, once you buy a home, you can’t return it if something breaks or doesn’t quite work like it’s supposed to. That’s why home owner’s insurance and property inspections are so important. A home owner’s insurance policy protects you in two ways:
A Professional Home Inspection – The professional home inspection should expose the secret issues a home might hide so you know exactly what you’re getting into before you sign your closing papers. We will guide you through this process.
The final stage of the home buying process is the lender’s confirmation of the home’s value and legal statue, and your continued credit-worthiness. This entails a survey, appraisal, title search, and a final check of your credit and finances. Your agent will keep you posted on how each is progressing, but your work is pretty much done.
You just have a few preclosing responsibilities:
On closing day, with the guidance of a settlement agent and your agent, you’ll sign documents that do the following:
As long as you have clear expectations and follow directions, closing should be a momentous conclusion to your home-searching process and commencement of your home-owning experience.
Throughout the course of your home-buying experience, you’ve probably spent a lot of time with us and we’ve gotten to know each other fairly well. There’s no reason to throw all that trust and rapport out the window just because the deal has closed. In fact, we want you to keep in touch.
Even after you close escrow on your house, we will continue help you:
Attention to your home’s maintenance needs is essential to protecting the long-term value of your investment. Home maintenance falls into two categories: