If you’ve added up how much you’ve paid in rent, you might be thinking about buying a home in Bloomington. We’re a university town. Yes, I am Indiana University alumni and proud of it, but geez the rent for what you get, is um…interesting.
Or maybe you watch countless hours of HGTV and having your own house to tear walls apart or learn how to install wood flooring has become a nudging thought.
Or you found out you’re having a baby. Like twins. You want a dog and your landlord says no. Or you just dropped off your last kid at college and suddenly 4,000 sq. ft. sounds ridiculous and you want to take care of less and travel more.
So how do you get the ball rolling? Think of it as a 10-step program. Yep, you are addicted to real estate. Maybe not yet, but once you find out what’s out there, you start scrolling, wait for emails to ding about listings in the areas you wanted, and it becomes game on.
So in a nutshell, here are the 10 steps:
- Consult with Your REALTOR ® (That’s me, and coffee, brunch, happy hour, whatever is comfortable to you, let’s chat! )
- Arrange and Research Your Financing (I’ll ask you a few questions to get the ball rolling, and place you with the best lender a home buyer could ask for.)
- Conduct Your Home Search (The really fun part! After you give me details about your home wish list, I’ll set you up with an active only search, so you don’t have to weed through homes that have accepted offers on them.)
- Prepare a Purchase Offer (I like to say that I will write the offer if I were helping my son buy a home. I want him protected, and if things go south with financing or inspections within our timeframes, I want you to get your earnest deposit back.)
- Contract for Your Home (This means acceptance! I’ll send a copy to your lender to start the process, notify the title company and send you a few home inspectors to call for availability.)
- Conduct Inspections (A home inspector will cover the house A-Z in a detailed report. A home inspection will help disclose any defects the seller may not be aware of, that could also affect your ability to get financing, so it is important to consider.)
- Finalize Your Financing (You may roll your eyes at the redundancy of paperwork, and then you sign it all over again at closing! Kinda kidding, but at this point you are probably less than two weeks to the keys.)
- Prepare For Your Closing (This means we look over the closing figures, down payments, credits etc to make sure you are covered at closing. If you need to bring funds to closing, you may need to initiate a wire depending on the amount.
- The Final Walk-Through (As it sounds, checking over items negotiated to be repaired, nothing left behind that shouldn’t be and if appliances are included as agreed to.)
- Closing Day (Get your keys day! All the paperwork will be there awaiting your signatures, the title company will explain as little or as much as you want to hear about payment schedules, taxes, etc. All you need to bring is a valid driver’s license, or other ID like passport, etc.)