Where to begin?The process of buying home should not be intimidating! With having the right resources and right guidance, the process is fun and easy to maneuver. Step one is contact our team. We will get a feel for what you are looking for in a home based on location, size, etc., and put you in contact with the right lender for your unique situation.
If using financing, getting prequalified is the first step to determine what your “buying power” is. Based on information you provide the lender and speaking to you about what mortgage payment you are comfortable with, they will be able to give you a price range so you can start the search! |
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Shopping For Homes
Next, our team will help look for homes appropriate for your needs. We aim to make you feel comfortable looking through each house and answering any questions you may have. As an added bonus, we may even throw in a little comedic relief every once in a while. Having a general idea of where you would like to be is always helpful in order to find the right home fast and efficiently. For example, maybe you like a certain school district, prefer to live in the country, or desire a home within walking distances of certain amenities. By understanding your preferences, our team will work with you to get you into a new home fast!
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Hurray, You Found One!
Making an Offer
The offer process is very easy. After discussing what you would like your offer to be, we will provide you with all of the documents necessary and signing is as simple as a click of a button. Our team will walk you through the offer step by step making sure you thoroughly understand the information!
Agreed Contract
Often times there is negotiation back and forth before the seller agrees to your offer. Once everyone is on the same page the “executed contract” is then sent to an attorney for further review and an inspection (if desired) will be scheduled.
The Inspection
A home inspection is beneficial to see what is going on inside the home that isn’t noticeable to the naked eye. The intention of an inspection is not to see if the home passes or fails but rather to show you what issues may be currently happening inside the house or may occur in the foreseeable future. The inspector will walk with you through the home and show you any concerns they have, then send you a detailed report. Based on what issues are present you can sometimes negotiate with the seller to make some repairs.
The offer process is very easy. After discussing what you would like your offer to be, we will provide you with all of the documents necessary and signing is as simple as a click of a button. Our team will walk you through the offer step by step making sure you thoroughly understand the information!
Agreed Contract
Often times there is negotiation back and forth before the seller agrees to your offer. Once everyone is on the same page the “executed contract” is then sent to an attorney for further review and an inspection (if desired) will be scheduled.
The Inspection
A home inspection is beneficial to see what is going on inside the home that isn’t noticeable to the naked eye. The intention of an inspection is not to see if the home passes or fails but rather to show you what issues may be currently happening inside the house or may occur in the foreseeable future. The inspector will walk with you through the home and show you any concerns they have, then send you a detailed report. Based on what issues are present you can sometimes negotiate with the seller to make some repairs.
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Bank DocumentationIf all goes well with the inspection, the next step is to provide the bank with all of the documentation they require in order to approve you for the loan. They will ask you for a list of information typically including W-2s, paystubs, and bank statements. The sooner you provide these items to the bank, the sooner you will be able to move into your new home!
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Home AppraisalAn appraisal is done on the property to make sure that the amount of money the bank is willing to give you for the home is the actual amount it is worth. Although the purpose of the appraisal is to justify the bank's investment, it also provides protection to you by helping to ensure you are not overpaying for the property. You are not able to attend the appraisal, an appraiser goes in by themselves and then based on similar properties in the area, determines the value of the home.
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The LoanOnce the appraisal is sent from the appraiser to the bank this and all of the information you sent the bank previously is then submitted to an underwriter. The underwriter reviews all of the documents provided to them and gives the clear for you to purchase the home. After the lender approves your loan, you will receive a commitment letter that stipulates the terms of the loan. This will include the duration (i.e., number of years), interest rate, monthly cost, and loan origination fees.
The attorneys will then schedule a closing date where you will meet with to sign all the loan documents. |
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House to Your Home
Once the loan documents are sign, you will be handed the keys! The next steps will be yours to chose as you make your new house your home.
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Contact LB House to Home
Phone518-420-2484
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AddressLB House to Home Realty
20 Oak Street Plattsburgh, New York 12901 |
