Buying a home is one of the most exciting milestones of your life. To prepare yourself for this moment, you need to know what to expect during the process. This step-by-step buyer’s guide I have created will help reduce the stress of buying a home and help you enjoy the journey as much as possible!
Do you already know where you want to buy? Would you prefer a condo, townhome, or single-family home? Which features do you like and dislike? What’s available on the market now? Do I know what the market conditions are in Charleston? If you answered no to any of these questions, now is the time to start researching! Start with an online search and get a good feel for your must have and like to haves in your next home.
Notice I said to decide on your budget—not determine how much the mortgage company will give you. In many cases, a mortgage company will pre-approve you for more than you’re comfortable spending, which is why you need to determine the monthly payment you feel comfortable with before talking to a lender. This likely includes doing a full household budget and taking into consideration what changes other than a mortgage payment will occur once you move into your new home. If you’ve lived in an apartment or with roommates, you may overlook new expenses like insurance, water, or HOA fees that could easily blow your budget.
Just because you think you can afford a certain payment every month doesn’t mean the mortgage company will agree. Just as they may approve you for too large of an amount, they may also approve you for a lesser amount or deny you a mortgage altogether. Lack of time at a job, insufficient credit, past bankruptcies, or other financial issues can cause major problems when trying to secure a mortgage. Before you get your heart set on a home, talk to a mortgage professional to find out what amount you can qualify for. This will also be an advantage when you make an offer on a home, as most sellers won’t entertain offers from those who aren’t already prequalified for a loan.
Finding the perfect home can be a daunting task, and this is where my expertise, wealth of knowledge, and network of service partners come into play. I have a proven process I use to make sure you don't miss anything, don't pay too much, and don't end up with a house that has major problems. I'lI help identify properties you might be interested in both on and off the market, arrange showings, handle the offer and negotiation process, coordinate all inspections and any repairs, and manage the closing process so your contract closes on time. As a Buyer Client you are informed every step of the way through clear communication and my intention is to add value and guidance throughout the process!
My goal is to provide you with the most personalized service that is designed to help you plan and purchase your next home.
This should be the most enjoyable step of the entire process (other than moving in!). I will arrange showings of homes you’re interested in that are within your price range. Take notes about what you like and don’t like, and make sure to pay attention to details. Turn light switches on and off, open and close doors, and run the faucets in various rooms. Don’t limit your inspection to the home itself. Make sure to take time to explore the neighborhood and keep an eye on traffic at certain times of the day, the parking situation, and how close it is to necessities like schools, and grocery stores.
Once you have selected the perfect home, work with your agent to craft a fair offer based on the value of comparable homes on the market. Depending on what the home is listed at and whether the current environment is a buyer’s or seller’s market, your offer may be below, at, or even above the asking price. I will be able to help you negotiate if you receive a counteroffer and reach an agreement. At this point, the house will go into escrow (under contract).
In most cases, your offer will be contingent on having the home inspected to ensure there is no major structural damage, insect infestations, or large repairs needed. I can help you arrange this, and you can schedule it within days of making an offer. If there are no major issues, the process goes to step eight. If there are repairs needed, we can renegotiate your offer based on what needs to be fixed, or you can withdraw it.
Now is the time to go back to the mortgage lender who pre-approved or pre-qualified you and choose your mortgage. You will be presented with various options based on your unique financial situation, including fixed-rate, variable-rate, 15-year, 30-year, or special programs such as VA loans or FHA loans. Work with your mortgage lender to select the option you feel the most comfortable with.
Your lender will have your new home appraised so they have their independent value of it. The appraisal is to ensure that all parties involved are paying a fair price for the house.
No one looks forward to all the paperwork involved in buying a home, but it’s a necessary part of the process. Fortunately, everything will be arranged by your lender, title company and closing attorney. When you’re finished, you’ll know you are the legal owner of your new home and you'll be ready to move in!
After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.
I couldn't be happier with my choice in real estate partners. Dustin's knowledge and transparency of what the current market can offers, as well as knowing the past and present trends of buying a home in the Charleston area we...
The most efficient and sincerest realtor I have had the pleasure of working with. He went above and beyond his call of duty without expecting anything in return. I felt at ease in his presence, and assured of success in his k...
Dustin is a professional who values his clients and it shows in the price he was able to negotiate for the sale of our property. He made great suggestions to prepare the property, handled all the marketing and open houses, and...
Dustin’s client-centric approach sets himself apart from the competition. He takes the time to listen to his clients' goals and aspirations, ensuring he understands their specific needs and desires. By tailoring his strategies to each individual client, he consistently delivers exceptional results. Please contact Dustin today to discuss your real estate needs
