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ULTIMATE GUIDE TO BUYING A HOME WITH THE O'neil Team
Find Your Dream Home with Us
We are your trusted real estate partners dedicated to helping you find your dream home. With our extensive knowledge of the local market and commitment to personalized service, we are here to guide you through the entire home buying process.
Why Choose Us:
- Expertise: Our team has in-depth knowledge of the local market, including the latest trends and property listings. We will provide you with expert advice to help you make informed decisions.
- Personalized Approach: We take the time to understand your unique needs and preferences, and tailor our search to find properties that meet your criteria. Your satisfaction is our top priority.
- Negotiation Skills: We are skilled negotiators who will work tirelessly on your behalf to get you the best possible deal.
- Smooth Transaction: We will assist you with all aspects of the transaction, from making offers to navigating the closing process, ensuring a smooth and hassle-free experience.
- Exclusive Listings: Gain access to our exclusive listings and off-market properties, giving you an edge in a competitive market.
Let us be your trusted guide in finding your dream home. Contact us today to start your home buying journey!
The Path to Homeownership
1. Save for Your Down Payment
Create a budget and do your research. There are lots of low down payment options available.
2. Know Your Credit Score
Learn your score and clean up outstanding debts like student loans and credit cards.
3. Find a Real Estate Agent
Contact a local professional to guide you through the process.
4. Get Pre-Approved
Differentiate yourself as a serious buyer and have a better understanding of what you can afford. Your MONTHLY BUDGET is the most important number.
5. Find a Home
Work with your agent to find a home in your budget that meet your needs.
6. Make an Offer
Work with your agent to put in a strong offer. Your agent should be doing their due diligence by running comps and seeing what terms the seller is looking for to increase your chances of getting an accepted offer.
7. Have a Home Inspection
Congratulations, you got an accepted offer! Now it’s time to have the home inspected to address any defects the property might have.
8. Move to Contract
After the inspection, you will either move forward as is, or renegotiate if major defects were found. Once your agent negotiates for you, it’s time for the attorneys to review contract. Once you and the seller both sign the contract and down payment is held in escrow, you are fully under contract!
9. During the Contract
There are a few different things that happen while you are under contract, such as; title review, appraisal, homeowner’s insurance, verification of employment, etc.
10. Clear to Close
Our favorite three words CTC. This means your file is clear and everything is set in place for the closing. Your agent will set up the final walkthrough to make sure repairs have been completed and the house is left in the condition you expect it to be.
11. Closing
Congratulations, you have made it through the whole process, and now it is time to get your keys! Make sure you get a list of utility services and transfer them into your name. Time to move in, have a drink and cheers to new beginnings!
Key Terms To Know When Buying a Home
Appraisal
Report highlighting the estimated value of the property completed by a qualified third party. Lenders rely on appraisals to validate a home’s value and ensure they’re not lending more than the home is worth.
Pre-Approval Letter
A letter from a lender indicating you qualify for a mortgage of a specific amount. This is a critical step in today’s competitive market
Closing Costs
The fees required to complete the real estate transaction. Paid at closing. Ask your lender for a complete list of closing cost items, including points, taxes, title insurance, and more.
Contingency
A provision in a contract requiring certain acts to be completed before the contract is binding. In today’s highly competitive market, some buyers are minimizing contingencies to make their offers seem more appealing.
Credit Score
A number ranging from 300-850 that’s based on an analysis of your credit history. Helps lenders determine the likelihood you’ll repay future debts.
Affordability
A measure of whether someone earns enough to qualify for a loan on a typical home based on the most recent price, income, and mortgage rate data. As prices and mortgage rates continue to rise, that will impact how much home you can afford.
Down Payment
Down payments are typically 3-20% of the purchase price of the home. Some 0% down programs are also available. Ask your lender for more information.
Equity
The value in your home above the total amount of liens against your home. With current home price appreciation, many homeowners are realizing they have more equity than they thought and they’re using it to move.
Mortgage Rate
The interest rate you pay to borrow money when buying a home. The lower the rate, the better
Got any Questions?
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Your Trusted Real Estate Partner for Your Dream Home