The 10-Step Guide to Buying a House
Here are the 10 steps to buying a house, the Landlord BreakUp way:
1. Are you ready?
Buying a house is a big decision. If you’re emotionally and financially prepared, congratulations! You’ve just taken the first step in buying a house – making the decision to buy.
2. Get a Home Expert.
Selecting a real estate agent is a big deal. Although there is typically no cost to you for getting buyer representation, you should still be selective. Your real estate agent/Home Expert will be working closely with you. Your Home Expert will be experienced and able to guide you smoothly through the home buying process, as well as, be an invaluable resource along the way.
3. Get a mortgage loan pre-approval.
Once you make the decision to buy a house, you need to know where you stand, how much house you can afford, and estimate your costs such as down payment and closing costs. Select a lender/loan office/Mortgage Expert as early in the process as possible. Having a pre-approval letter shows that you are ready and able to buy a home. It serves as written proof to all parties in involved that you are a serious buyer.
4. House hunt.
With pre-approval in hand, you are now ready to shop for your new home. You’ll discuss your wants, needs, and desired location with your Home Expert. You will be supplied with a list of homes that meet your top needs and match closely with your wants. You’ll decide which houses to visit and make smart comparisons. Your Home Expert will organize showings to ensure you are not overwhelmed.
5. Choose a home.
Select the house you see yourself and your family calling home.
6. Make an offer.
When you find a house that feels like home, your Home Expert will assist you in making an offer. The offer is strategically written; focusing on both price and terms to save you dollars in additional costs or add value.
7. Get a mortgage loan.
You’ve been pre-approved for a mortgage loan, but now it’s time to get the actual loan approval. There may be additional paperwork needed. Your mortgage expert will make the process as smooth as possible.
8. Get insurance.
Protecting your investment from unexpected disasters and mishaps is smart.
9. Time to close.
It’s time to get the keys to your new home. How exciting! Closing day can be a little overwhelming because there will be a lot of documents to review and sign, but your Home Expert will sit right by your side through the process.
10. Total Home Ownership Experience ℠.
Congratulations! You’re a homeowner. You can only get the Total Home Ownership Experience with Landlord BreakUp. We offer exclusive services to our homeowners such as Homeside Assistance ℠, Seller Assist ℠, and Home Forgiveness ℠. From buying your first home to selling and upgrading, we’re there with you through your entire home ownership experience.
Wanauma Graham is a Texas Real Estate Agent and Home Expert for Landlord Breakup, a program which seeks to motivate, encourage, and support renters who want to become homeowners. Learn more at LandlordBreakup.com.
About Landlord BreakUp
Landlord BreakUp is the renter’s path to home ownership. LBU helps renters prepare for home buying, takes them through the entire home buying process, and offers exclusive homeowner services after closing.