The process of buying a home can be very complex. There are a lot of steps and rules to follow before you are able to live in your new home permanently. If you are planning to move to the Midwest here is a list of home buying steps, recommendations, and more to help make your process a bit easier.
Find an Agent
One of the most important steps is finding a trustworthy, knowledgeable and dependable real estate agent to help you find the home you are looking for. They will be your advisor and help answer any questions you need to find your perfect home. They should also know the area and community you want to live in very well. Two reliable real estate companies throughout the Midwest are Coldwell Banker and Remax.
Determine a Price Range
As you work with your real estate agent they will want to know what your price range is when looking for a home. A beneficial thing to do at this time is get pre-approved for a mortgage, so they can access your financial situation and help determine the best price range for you. Your real estate agent can recommend a reputable lender or mortgage company to help you.
Find Your Home
Once you are pre-qualified for a mortgage it is time to find your dream home! At this time, you will want to express to your agent exactly what you are looking for with your new home, then it will be their job to bring you listings that associate to your needs and wants.
Appraise the Home
Once you find the home you want to buy, it is important to find how much the house is worth in comparison to the price the seller is asking. This is also important for your mortgage lender because they will want to know how much the house is worth before lending you money. Finding a trustworthy and quality home appraisal company is important because they will take a walk-through of the home looking to see what might add or detract value from the property. Midwest Appraisal Management is a knowledgeable and experienced appraisal management company that is found in many states throughout the Midwestern United States such as Michigan, Ohio, Indiana, Wisconsin, South Carolina, and Florida.
Making an Offer
Finally, it is time to make an offer on your dream home. Once you get your home appraised, qualified for mortgage, and have a down payment ready, you are able to submit your offer to your agent. Here you will submit your deposit, sign paperwork, and provide written documentation from your lender outlining your credit worthiness. Your agent will then send your offer to the listing agent, where the seller might accept, reject, or counteroffer.
Once you settle on an offer for the house and your mortgage is approved, the lender will send you a letter of commitment. A closing date and time will be set and you should begin finalizing your arrangements for homeowner’s insurance and other requirements for your house. At closing day, be sure to have necessary funds, photo id., and other documentations required by your real estate agent and lender. Congratulations on your new home!