Home Buying Process-- Step 3

So you and your agent have found a home that fits your needs, that is in your budget, and that is in a neighborhood you enjoy...what now? Well there are some things that need to happen so that you can move into your new home. You guessed it, there are 3.3 things that need to happen before you can move into your new home:

1. Agree on the terms of the sale
Once you decide you like a home, you and your agent will prepare and agreement between yourself and the owner of the home. A written agreement is made cover the price and all the terms of the sale. You will want to be sure to know all the conditions to which you are agreeing and be clear on what you are agreeing to. It is important to note that only the things in WRITING are legally enforceable. So be sure you get it in writing.


2. Get a loan and inspect the home
Unless you are one of the fortunate few who purchase a home with cash, you will need to get a loan for your new home. If you have taken the necessary steps up to this point, you will understand all the details of getting a loan and know what kind of loan you want to get. Once you have a written agreement for purchasing the home, you will submit a loan application and provide necessary documentation to your lender. At the same time, you and your agent will order a home inspection and a termite inspection to make sure the systems of the property are functioning and not in need of any repair.


3. Renegotiations are carried out if necessary
Sometimes, during the inspections or appraisal, issues arise that are in contradiction to the agreement to purchase. Renegotiations occur if, for example, the seller agrees to give you the home absent of termites and the termite report indicates there are termites. The renegotiations are by far the most difficult and most often stressful component of the purchase of a home. This is a time where the help of a knowledgeable professional come in handy.


3.3 Arrange for movers, utilities, and prepare to move
Once all the negotiations are complete and the loan has been approved, it's time to get ready to move into your new home. It is important to transfer the utilities into your name so that you have power and water when you move into your home. You will especially want to either hire or recruit help for your move into your new place. People often report that Pizza and adult beverages work well to entice friends to come help.