We have broken down the buying process into 8 easy to follow steps. Buying a property requires a lot of time and effort, but following these easy steps can make the whole process more manageable and help you make a better decision.
Whether you are becoming a first time homeowner or you're a repeat buyer, buying a property is a financial and emotional decision that requires the experience and support of a team of reliable professionals.
Since real estate transactions can be complicated, it makes since to work with professionals who know the community and can guide you every step of the way.
If requiring lender financing to purchase a property, it is very important to have a consultation with a mortgage lender prior to starting property search. The lender will inform you of financing options, and provide you with a pre-approval letter.
Now that you know you are approved for financing, its time to searching for a property that meets your needs. Working with an experienced agent can help you narrow choices and make an informed decision about which property to choose.
Once you have decided on a property, next you will need to decide on what you are willing to pay for the property given current market values. Your agent will help you find a market value, and guide you through the entire offer process.
After the property is under contract, you will need to inspect the property for any major damages/problems you may have not seen during the initial walk through. These unforeseen issues can cost you additional money after you become the owner.
It is time to make the purchase official once you have agreed on a sales price, feel comfortable with any items you may have found during inspection, and have secured your financing. This is usually done with a closing attorney of your choice, all parties involved in transaction, and in the presense of witnesses.
After the transaction is complete, you are now the owner of the property and responsible for the mortgage payment, property taxes, insurance, and any maintenance. With a well maintained property, the value should continue to increase over time.
All information is deemed reliable but is not gauranteed and should be independently verified. Properties subject to prior sale or rental.
Copyright 2014. YHP Realty, LLC doing business as: Your Home Pros Realty. All rights reserved.
Broker: Kody Horn
12553 S. Harrell's Ferry Rd., Baton Rouge, La 70816
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