No matter if you are a first-time homebuyer or you haven’t purchased a new property in many years, the buying process can be a little intimidating. There are many steps you must accomplish and decisions you need to make. To prepare you for this process, read here to learn more about the buying process in Alpharetta.
Obtain Pre-Approval
The first step you must complete is to obtain pre-approval from a mortgage company, bank, or credit union. During this process, you will provide various documentation and information on your financial health, employment, assets, and more. This step is not mandatory but it can make your entire buying experience much easier.
Once you have obtained pre-approval, you will know how much money you can borrow from a lender to spend on the property. You’ll also receive an estimation of your monthly payment and your expected interest rate.
Find an Experienced Real Estate Agent
An experienced real estate agent can be your greatest resource when in the market for a new home in Alpharetta. This professional can help you search for a home that meets your needs, is in the right neighborhood, and is within your budget. They can answer your questions, guide you through the various home-buying steps, and explain complicated real estate jargon to you.
Search for a Home
With the help of your real estate agent in Alpharetta, you can begin the house hunting experience. Your agent can schedule showings and alert you of upcoming open houses. Just make sure to take your time and find a house in a location that will truly make you happy.
Make an Offer
Once you have found your dream home in Alpharetta, it is time to place an offer on the property. You will want to work closely with your agent to make an offer that is realistic and accurate. Your agent will factor in the current market, what similar homes in the neighborhood have sold for, if certain repairs need to be completed on the property, etc. Keep in mind that an offer is much more than a price point but it may contain contingencies such as scheduling requests, the outcome of the home inspection, etc.
Once you have made an offer, you can expect some back and forth with the seller. The seller may not agree to your price point, contingencies, and other items that you included in the offer. Again, you will want to work closely with your agent to complete the negotiation process and to ensure your offer is accepted. Your real estate agent should have experience and training to handle this process.
Obtain Financing
Once your offer has been accepted, your work is not yet complete. You must provide all required information and documents to your lender to receive the financing for the home. This process can take several weeks depending on whether you run into any issues. While the lender is processing your home loan, you can complete steps such as scheduling a home inspection.
Closing Day
Closing day is one of the most important and exciting days in the home-buying journey. This is the day you will sign all paperwork and receive the keys to your new home. Keep in mind that the closing process includes a large pile of paperwork and you will be required to provide your down payment and other upfront costs. Make sure that before you sign on the dotted line that you complete a final walkthrough of the property to ensure all agreed-upon repairs are completed and the house is in the same condition that was stated when you placed an offer.
At AlpharettaZen, our team of real estate experts can help you through this long and overwhelming process. Contact us today and let’s begin searching for your next home.