Step By Step Home Buying Process Explained

Real Estate
Step By Step Home Buying Process Explained
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If you are buying a new house and doing it for the first time can be very intimidating. There are many buyers agents that are available in the real estate markets who are always ready to assist you in the process of buying houses. However, if you are buying a new house anytime soon and even if you are doing it with the help of a real estate agent, the process of buying a new house is mostly the same.

Buyer’s Agent Explanation On Home Buying

If you ask a professional real estate agent to guide you through the basics of home buying, here are some simple steps that will get you through the process.

Step # 1 – Plan A Budget

Start by planning your budget. This is not practically the first step but should always be the first step of the process virtually. Buying a house can mean different things. The cost of the house you buy will be defined by several factors. The key rule is to plan your budget beforehand. Never start looking for a house until you have a price range set.

Step # 2 – Do Your Research

Look up houses and this will be your next step. Searching for potentially good houses in the newspapers and asking a real estate agent for assistance is the traditional way of searching houses. The modern way is to look up houses on the internet where you can simply google you options.

Step # 3 – Compare and Shortlist Properties

When you have been searching for a while, it is then time to shortlist the best options you have come across so far. It is ideal to create a list of the shortlisted options so that it becomes easier to compare.

Step # 4 – Visit and Survey

Now begins the practical implication of house buying and i.e. begin visiting the shortlisted options. When you begin to survey, you will have a chance to survey the property and explore what it actually is like in reality.

Step # 5 – Evaluate Your Choice Based On Your Needs

A very important step is evaluation. You need to evaluate your selected house based on your needs. It is never suggested to invest in a house if it does not meet your requirements or is way too much than what you need. Houses are long-term investments.

Step # 6 – Make an Offer

After you have made the final choice, you can make an offer through your buyers agent or directly to the house owner.

Step # 7 – Negotiate

Negotiate after you have made the final offer. Of course the house owner will not right away agree on the price you are quoting for the house. Negotiation can be a tiring process and can take a long time until both parties reach a mutual decision.

Step # 8 – Get Through with Documentation

After agreeing on a price for the house, you need to get started with the documentation. This involves finalizing papers that transfer the property from the real owner to you now.

Step # 9 – Make Final Payments            

Once everything is done and all documentation has been legalized, you can make full payment to the owner before moving into your new house with the help of real estate agent.

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