No need to be overwhelmed at the prospect of purchasing a home. Sure, it’s a lengthy and involved process, but we’ve broken it down step-by-step and are here to help you during each one of those steps. Despite all the help we’ll give you, it’s good to know what you’re getting into from the get-go. Here’s a general guide for the real estate buying process:
1. Do your research
It’s time to discover what’s out there! After you’ve decided what kind of property you want to buy, consider the following questions. Then use our property search tool or browse real estate listings by category to find matching Asheville-area homes for sale.
What’s important to you in a location?
- School district
- Work commute
- Neighborhood or community
- Close access to town or private mountain setting
Is the price right?
- Calculate mortgage payments
- Consider the sale of any currently owned real estate
2. Meet with your Realtor
- The buyer’s agent is your best friend during this process: the agent looks out for the buyer’s interest and acts as an advocate as well as helps with negotiations and closing.
- Take advantage of time with your agent to let them know exactly what you’re looking for – your agent may have some suggestions based on your desired criteria.
3. Get pre-approved
- Money talks. You must find out how much a bank will lend you to purchase a home.
- Decide on a good mortgage broker, who will check your credit report, review your tax returns, bank statements, and more.
4. Search listings and schedule viewings
- Browse listings in your desired area and look for open houses.
- Your agent will make recommendations for homes to take a look at.
- When you find a home you’d like to purchase, act fast.
5. Make an offer
Your agent will help you present an offer to the seller and handle any negotiations on your behalf. They are responsible for helping you get the best price possible.
6. Choose an attorney
It is likely that your buyer’s agent can help you get a real estate attorney, who will prepare closing documents and explain the legal implications of purchasing property.
7. Get a home inspection
Know the property you’re buying.
- A licensed inspector will check house structure, evidence of termites, mold, or any other issue that the seller may need to take care of.
- Consider optionally available radon testing
8. Purchase process
- Your agent will prepare a purchase and sale agreement; buyer and seller will sign required documents.
- Agents will draw clear lines for contingencies and responsibilities of both parties.
You’re almost there!
- You and your agent can arrange a walk-through to make sure nothing has changed on the day before or day of your closing.
HUD settlement statement will be signed and recorded by attorney.
Questions? Get answers from one of our experienced Realtors. Contact us here.