Important Steps In Your Home Buying Process
The purchase of a home is definitely not one of an impulse buy. There is a lot of thought and consideration that goes towards it. After all, a home purchase is one of the biggest purchases one can make in his/her lifetime. Make sure you’re prepared, here are some important steps in the home buying process.
- Find a Realtor. Your real estate agent is your most trusted consultant throughout the process. The home buying process can be complicated so it’s important to have an agent that will be with you through each step of the way. The process of house hunting becomes much easier and more efficient than if you do it on your own. Find a realtor and make sure he or she is understandable, reassuring and prioritizing the importance of features you’re looking for in your future home.
- Pre-Approval. It’s very important to know how much you can afford even before you start house hunting. Lenders need to check credit, verify employment, and other financial documents. For more information on Pre-Approval, read our previous blog on the importance of pre-approval here.
- Finding The Right Home. Take your time to find the right home. Your realtor should be your first contact if you see a property that you’re interested in. This can typically take from 10-30 minutes when viewing the property. If you are interested, you’ll want to take more time looking through out.
- Making the Offer. Once you find the property you want to make an offer on, your realtor will negotiate with the most favorable terms. From the point of submitting the offer, it can be anywhere from 1-2 days before you hear anything.
- Home Inspection. When your offer is accepted and you’re in escrow, one of the first and most important events is the home inspection. It’s important for buyers to attend the home inspection summary and your realtor should be there with you. This is the best time to investigate your home and ask questions. An inspection report copy is provided to you and your realtor about 24 hours later.
- Closing On Your Home. Typical time to close on a property is 50 days. It seems like a long time but remember, purchasing of a home is typically not on impulse. During this time, be patient and do your due diligence during this time. The entire process takes time and your realtor will be there with you every step of the way.
Colin Lee is one of Top 100 realtors in Hawaii and Top 2% of Realtors Nationwide at Better Homes and Gardens. As a former Certified Public Accountant, his attention to detail and client first attitude will ensure that your real estate transaction is a positive experience.
If you’d like to learn more about the home buying process, call Colin Lee today at 808-352-8587 or email at ColinL@BetterHawaii.com.