Basic Steps to Home Ownership
Buying a home can be an overwhelming experience. We have gathered basic steps to make the process as smooth as possible. Your Pierce County Houses Team is with you every step of the way.
You've made a wonderful and exciting decision to buy a home. As you move forward through each phase of the process, our Home Team will work side-by-side with you to make sure you understand and are prepared for each step of new home ownership. It's all part of our absolute commitment to offering the highest quality service. Making sure you get the home you want, just the way you want it!
1. Making a Decision - Gather the facts - Take a look at all of the factors that go into buying a new home. Are you ready? Do you have the financial backing? Research the neighborhoods you are interested in living in and investigate the schools and cost of living to determine which is right for you and your family. Our associates are very helpful assisting you in gathering this information. You can view some of the resources we have available on our site for you.
2. Choosing our qualified team can help you Find a lender - Calculate how much money you are eligible to borrow in order to purchase your home. You can also discuss credit and other loan matters that you have questions about with your lender. Pierce Commercial Bank has a variety of mortgage options at great rates to fit your needs.
3. Get pre-approved - Once you are between 60 and 90 days of actively house hunting and purchasing a home, you should consider going through the pre-approval process. A pre-approval will be able to tell you exactly how much house you can afford. It can also give buying power with the seller to any bids you may make. And then you can search accordingly.
4. Know the area - Members of our Home Team are not only knowledgeable about the real estate in your area, they are also required to look after your interests solely, so that you get the best possible advice. According to the 2004 National Association of Realtors Profile of Home Buyers, home buyers want reputable real estate agents who are knowledgeable about their marketplace. Knowledge of the local market and knowledge of the local area are the most important factors to home buyers today. Home buying experts suggest that when it comes time to write an offer, you should have seen every home for sale in the immediate area. Only then will you be able to compare your desired home against all of the other homes in marketplace whether they are listed in the Multiple Listing Service (MLS) or are For Sale By Owner (FSBO) homes.
5. Search for a house - You may choose to use a realtor or not, it is your own personal choice. If you choose to use a realtor, they will help you negotiate prices and assist you through the whole process. Search Pierce County Houses right here.
6. Making an offer - Once you have found a house, you need to make a written offer. Our team of professionals can help you make a realistic offer and act on your behalf to help you get the best price possible during the sale as the negotiations begin. Our team can help you arrange for a home inspection - Inspections will disclose any defects in the property that could materially affect its safety, livability, or resale value. Do not wait too long to have your home inspected however, there will be a time limit in the contract designating when the inspection should be completed (usually between 7 to 14 days).
7. Apply for a loan - Once you have found your home, and your offer has been accepted, it is time to fill out your loan application. At this time you will find out an estimate of costs needed for closing and for the down payment. Take this time to ask any questions that you have. On average the loan processing takes about 4 to 6 weeks. Stay in touch with your lender and make sure that your application is being processed accordingly.
7b. Secure homeowners insurance - Unless you pay cash for your home, one of the requirements that will be made by your lender is proof of a valid homeowners insurance policy, secured before closing. Our team can help you through this process. This policy will protect both your investment as well as the ender's. Investigate your best deal here, as it is a long term expense.
8. The closing - Arrange for a closing agent or attorney. You are going to be required to sign a lot of documents; make sure you understand everything that you are signing, if you don't, ask questions! For any amount of money that you are paying, you will need a certified or cashier's check. At this time the owner will turn over the keys and give you any additional information needed about the house.
This appointment will take approximately one hour. It is important to bring:
cashier's check made payable to title company
valid driver's license or passport
The recording of your title may take up to three days. Once it's been recorded with the county, you'll move to the final step!
9. You get the keys
THE BIG DAY HAS ARRIVED! These items have been completed:
Homeowner Orientation
loan documents signed and closing funds deposited
sign-off appointment completed
title recorded
At closing, you will receive the key to your new home!
10. Hire a moving company - Make comparisons in price and reserve time now.
Make a checklist of what you need and where you will put it to avoid stress later.
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