Now that you have found your home what is next? Here are the next steps to making your dream a reality.
· Make an Offer on the Home
Now that you have found the right home, it's time to make an offer. Your agent will do the research on the market in the neighborhood and help you determine what a competitive offer will be for the home. Your agent will also educate you on terms of the contract such as asking seller to pay for closing costs and other contingencies with the contract. When making an offer, you should consider how much you will need to bring to the table (closing costs, home inspection etc.) Once you make an offer typically the seller will make a counter offer. You may choose to make another counter offer or meet somewhere in the middle. After both parties have come to an agreement on a final purchase price you'll need to make an earnest deposit. This is deposited in the escrow account as a sign of good faith to the seller.
· Home Inspections and Other Tests
It is highly recommended to have a whole house inspection on the property. The home inspection will reveal any unseen issues or problems with the home. If there are any issues or problems that arise you can request the seller to make the necessary repairs to the home. There maybe other tests you which to conduct on the home and your real estate agent can help you with those.
· Closing on Your New Home!
Now comes time to close on your new home. Staying in contact with your lender will help the closing go smoothly. The lender can help answer any questions regarding the financing of the loan and other mortgage questions. On the day of closing you will need your driver's license and the funds to close, typically a cashiers check.