Posts with tag 'Homebuying 101'
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Homebuying 101: What Happens at Closing
Welcome back to Homebuying 101. If you are just now joining us, you can read on about closing below or catch up on previous installments.
The closing, also known as settlement or escrow, is considered the final step in purchasing a home. But many first-time homebuyers aren't sure what to expect when they get to the closing table. You might be asking why sometimes it can take a while to close, who are the key players and what does a title company do? We'll answer these questions and more below.
Who Comes to a Closing?
The amount of people and nature of the closing will depend on various factors, but these are some of the most common people you can expect to see at closing:
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Homebuying 101: Making an Offer
So you've gotten preapproved for a loan, found a great place and are ready to make an offer — now what? Making an offer is one of the most critical steps in the process of buying a home. A knowledgeable real estate agent is your greatest asset in navigating the offer — they can provide invaluable insights into local market conditions, help you draft a competitive offer and negotiate on your behalf.
In this installment of Homebuying 101, we'll break down all the steps of the offer process, from what happens when your offer is accepted to everything else that happens in between making your offer and closing on your new home.
The Offer
Determine Your Price
31
Homebuying 101: Finding A Home
Welcome back to Homebuying 101, the series where we walk you through the entire process of buying your first home. Many people start the home search process online, but to best set yourself up for success, you should interview and hire an agent and secure a preapproval for a loan first. That way, you're working with someone you trust and have realistic expectations for what you can and can't afford.
Securing both representation and financing are big milestones in the home search, so take a moment to pat yourself on the back. With those two key elements in place, it's time to finally start the home search.
1. Define Your Wants and Needs
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Homebuying 101: Getting a Preapproval
Welcome back to Homebuying 101! So far we've covered the basics of the homebuying process, how to find a real estate agent and questions to ask once you've found one. Now, we're diving into the next step — finances.
Saving up for a downpayment is a big part of the homebuying process, but obtaining a preapproval is just as...
24
Homebuying 101: Questions to Ask a Real Estate Agent
Welcome back to Homebuying 101. For the first installment of this series, we'll tackle how to interview an agent. Once you've narrowed down your buyer's agent search to a few candidates, it's time to start getting to know them. You'll want to consider not just their experience and professional expertise, but how well the two of you communicate. After all, a home search can sometimes take months or even over a year, so you'll want to find someone that you're comfortable with. Depending on your situation, there can be any number of important, relevant questions you can ask — here are a few to get you start...
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