Buying a home is an exciting and complex adventure. It can also be a very time-consuming and costly one if you’re not familiar with all aspects of the process, and don’t have all the best information and resources at hand. One of our team specialties is representing the best interests of San Antonio area buyers throughout the home buying process. Our comprehensive, high-quality services can save you time and money, as well as make the experience more enjoyable and less stressful.
If you’re like most people, buying a home is the biggest investment you will ever make. So whether you’re buying a starter home, your dream home or an investment property, why not take advantage of my experience as a local market expert to make the most informed decisions you can, every step of the way? There are many steps to finding the home for you, such as; finding the home, negotiating the contract, scheduling an inspection, writing amendments and following the financing. That is why we have dedicated our career to helping guide our clients throughout the home buying process. Home ownership is part of the American dream so don’t let yourself get overwhelmed and stressed, let The Pinnacle Team help you achieve your dream of home ownership!!
It is important to know your Agent’s representation during your home buying process. As your buying agents, our team provides you with honest and accurate information about your home purchase. We work in your best interests as your buyer’s agent and put you first in all stages of the buying process. Therefore, we disclose to you any information we receive pertaining to the transaction and do not disclose any information you wish for us not to.
The main steps included in every process of buying a home are as follows:
- Select a REALTOR®- the most successful REALTOR® is one who has knowledge of the market, dedication to their client and devotion to making the buying process as easy for the buyer as possible. Always choose someone you feel comfortable with and trust with your home purchase. Meet the Pinnacle Team!
- Get a financial pre-qualification letter– this letter provides you with buying power. Having yourself pre-approved for the purchase of a home gets the ball rolling on your financing options. Also once you have chosen your home you will be able to submit the pre-approval letter with the offer- giving the seller more confidence in your offer.
- Home previews and selection– once approved and you have a REALTOR®, the fun part starts! Have your real estate agent send you homes and take you out to view these homes! Many people take to home searches on the internet as well. There are many ways to find your dream home so find the one that best suites you and communicate with your real estate agent.
- Offer submitted to seller– once you have found a home, you will want your real estate agent to run a Comparative Market Analysis (CMA) to determine the offer you wan to submit. Looking through the Multiple Listing Service (MLS) your real estate agent can make an analysis of the market value to the home. The offer will address the sales price, closing date, option period, closing costs, title policy, home warranty and more. Your REALTOR® can guide you and give you advice when making all these decisions, but ultimately the choice is up to you on what offer you want to submit.
- Negotiate contract– once offer is submitted, the seller will counter, reject or accept the offer. If they accept the offer you have a contract and move on to the next step! If they counter you can negotiate back and forth with the seller until you can meet somewhere in the middle. Once you have agreed on terms, you may move on to the next step! If they reject the contract, you make re-submit or choose to go with another property. Again if offer is just rejected your real estate agent may give you advice on your next move but it is again your decision.
- Order and inspection– you have contract! Now what? You need to order an inspection on the home. Having an inspection on the home allows you to become aware of all aspect of the home that are not easily seen by the human eye. The inspector will look at the “guts” of the home; all appliances, water heater, roof, wiring, exterior and interior walls, attic, etc. The inspection allows you a focus on the condition of the home you are purchasing. For your protection, we always advise you get a home inspection before buying (no exceptions.) You may use the inspection report to negotiate repairs in an amendment. Your real estate agent can help with making a decision on repairs to ask the seller for and submitting the amendment.
- Secure funding– once you have a receipted contract you will want to begin the loan process with your lender. You want to start this process in a timely manner so they may order the appraisal on your home and get the financing done in time for closing. They must provide you with a Good Faith Estimate (GFE) of your costs and loan amount. Make sure to check this GFE before going into closing and ask any questions you may have. Also the lender will ask for your Home Owner’s Insurance information; this is crucial to the loan process so make sure to have the information readily available before closing.
- Closing– when all the pieces have come together you can set a time to close on your home! Your real estate agent will call the title company and set up your desired time to come in and sign all title and loan documents. You will need a to deposit your down payment and any closing costs to the title company at the appointment. The deal is not completed and you do not own the property until both parties have closed and your loan has funded (all monies have been deposited).
After you have “funded” your real estate agent will hand you the keys to your new home and begin moving in! Please feel free to email Terri or Kristen for more information on the buying process or if you would like a buyer’s packet!
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Pictures are compliments of Kandise