Purchasing a home for the first time can be an exciting, yet overwhelming experience. As a first-time home buyer, it’s essential to know what to expect during the process to ensure a smooth and successful transaction. Here are some things you should expect as a first-time home buyer:
The Pre-Approval Process: Before beginning your home search, it’s essential to get pre-approved for a mortgage. This process involves submitting financial documentation to a lender to determine how much money you can borrow. Having a pre-approval letter can help you determine a realistic budget for your home search and can also give you an advantage in a competitive market.
House Hunting: Once you have a pre-approval letter, you can start your house hunt. Work with a real estate agent to identify properties that meet your needs and budget. Make sure to visit several homes before making a decision and ask your realtor to help you negotiate an offer that works for you.
Home Inspection: Once you have an accepted offer, it’s time to schedule a home inspection. A home inspection is a crucial step in the home buying process as it can identify potential issues with the property. At Advance Building Inspections, we offer comprehensive home inspection services to help identify any issues with the property and provide you with a detailed report (around 20+ pages including hundreds of photos). The inspection findings can also be used to negotiate price, or ask for things to be fixed prior to the sale.
Additional Inspections: You may also decide to have additional inspections such as well and septic, or main drains to the city sewer system.
Closing Process: After the inspection, the closing process begins (assuming everything is kosher). This includes signing all necessary paperwork and transferring ownership of the property to you. It’s essential to have a real estate attorney to review all documents before signing and to ensure a smooth transaction.
As a first-time home buyer, the process may seem overwhelming, but working with professionals can make the experience much smoother. At Advance Building Inspections, we are here to help you with the home inspection process and ensure that you make a confident decision about your purchase.