The Home Buying Process

home-buying-process

If you are considering buying a home in the year 2017, it would be helpful for you to learn more about the home buying process. The Shannon Aronson Team will be with you every step of the way! Below please find a summary of how the home buying process works.

The first step in the home buying process is choosing a real estate agent. Shannon’s real estate career began in 1998. She and her team have come to understand that the moving process is a very emotional and stressful time for many people.  It is The Shannon Aronson’s Team pleasure to guide people through this important time.  For buyers, we take the time to listen to our client’s priorities.  We have refined systems for home searching that save our clients a tremendous amount of time.   We pride ourselves on finding our clients their perfect home.

The next step in the home buying process is obtaining financial pre-approval. Having the knowledge of how much you can afford allows you to focus your home search and make a move when you find “the one”! Obtaining financial pre-approval will help you in two main ways. One, the credit check and paperwork required to obtain a mortgage will already be completed, which gives you peace of mind that you will have the ability to finalize a home purchase. It also allows you to fix any problems that might appear on your credit report. Having the paperwork in place will most likely speed up the home-buying process after you’ve made an offer.

The third step in the home buying process is to analyze your needs in a buyer consult. The buyer consult will allow us, The Shannon Aronson Team, to ask you important questions that will help us obtain the information we need to help you find your dream home! Some of the questions asked of the buyer might include: What location are you looking to buy in? How many bedrooms/baths do you need? Are you looking for a move-in ready home or are remodels/repairs ok? What is your price range? After we know exactly what you’re looking for, it is time to select and view properties!

After you have found your dream home, it is time to write an offer to purchase. The Shannon Aronson Team will guide you in making your offer. Things to consider when putting together the offer include: How the property compares with similar homes, if there are other buyers interested in the home, how motivated the seller is to move, etc. We will work carefully with you to make sure you submit the right offer. After the offer has been submitted to the seller, it is time to negotiate the terms. Let The Shannon Aronson Team work through the negotiations for you!

After the buyer and seller have agreed on the offer to purchase, it is time to choose an attorney for attorney review. If neither the buyer or seller have made any changes to the offer within 3 days of the contract being signed, then the review period is over and the contract is binding. Weekends and holidays are not included in the 3 day period. Once the contract is a binding contract, it is time to move forward with next steps in purchasing the property. However, if changes to the contract are requested, the attorney review period is automatically extended until all parties come to an agreement in regards to the changes.

Once the attorney review period is complete, an additional deposit for the house is due from the buyer.  This deposit shows the seller that the buyer seriously intends to purchase the property.

Now, it is time to conduct inspections and resolve any issues that may come up. It is also time to obtain a mortgage. There will also be a title search conducted for the property. A title search shows the history of a property as determined by public record deeds. The title search will show if there are any liens, etc against the property.

At this point, you will also want to check for any open permits and resolve any issues. Certain home fix-it projects or renovations require that the homeowner secure a permit for the work from the town before the work commences. At this stage, the permit is considered “Open”.  As the work is done, the township will then come out to conduct a final inspection and, if all is well, will “Close” the permit.  Often, however, contractors or homeowners either don’t know this final step or the contractor “forgets” and a permit is still “open” even though it could have been months or years since the work was completed. The Shannon Aronson Team will call the township and inquire if there are any open permits for a property.  If there are, we, in accordance with the homeowner, make appointments with the town to conduct the required final inspections, and thereby “close” the permits. The reason these inspections are critical is that townships have these rules in order to ensure that any work is done to code to ensure the safety of the occupants.

It is also now time to arrange for town fire inspections and CO. To obtain the certificate of occupancy, the fire company will inspect the property for smoke detectors, carbon monoxide detectors, fire extinguishers, etc.

Prior to closing, you will also want to transfer utilities. Utilities you want to remember to either move or set up include phone, internet, electricity, gas, cable, water, and trash.

The final steps in the home buying process are the final walkthrough and settlement!

The Shannon Aronson Team gives you our promise that we will make the home buying process smooth.  We will negotiate with your money as if it were our own.  We will oversee every step of the process from the contract through the closing, and help you transition into your new home and community.  From movers, to babysitters, to dog walkers to dentists, we look forward to helping you create a rich new life. Please call on us. We look forward to helping you!