BUYING A HOME - RESIDENTIAL REAL ESTATE TIPS
The process of buying a home can be one of the greatest experiences of your life and assist in securing the future of your family. Once a home is found that fits you and your family’s needs and taste, there are several steps in the home buying process before calling a house your home.
Our Bellevue real estate agents can help you navigate the home buying process and get you into your new home or property fast!
The Home Buying Process
Purchase and sale agreement
Once an offer on a property has been made by a potential buyer and accepted by the seller, they enter into a legal contract known as a Purchase and Sale Agreement. This document outlines terms and conditions of the sale transaction and is signed by both the seller and the buyer. Our Bellevue real estate agents will help you understand the legal side of things, so you can rest soundly knowing your best interests are being protected.
A home inspector, usually hired by the buyer will investigate the structure and determine if the home is in need of any repairs. Items an inspector will check include the roof, basement, heating system, water heater, air-conditioning system, structure, plumbing, and electrical. After inspection report is delivered to a buyer, he or she will have an opportunity to negotiate with the sellers to cover the costs of specific repairs or ask for concessions if any repair is necessary.
Whether you are a buyer or a seller, negotiation is the key to getting the best deal. Negotiations can range from settling on a sales price to concessions and financing. The real estate agents at Better Properties Eastside are expert negotiators and their responsibility is to represent the interests of our clients during the give and take of a residential real estate transaction.
You may be pre-approved for a home loan, however now that you are near to the actual purchase price, you will be working more in-depth with your lender on your final loan approval.
You will receive a full report detailing the property history for you and your lender to ensure there are no legal encumbrances between a new owner and the property being purchased.
Once the offer is accepted and a closing date agreed upon, escrow allows the buyer and the seller to have an outside party ensure all parts of the contact are complete. Better Properties Eastside can help coordinate the completion of all necessary forms for escrow and monitor the escrow process until the transaction is complete.
At closing, all the paperwork is signed by both parties and, prior to closing, you'll receive a settlement statement outlining any fees which may apply to you. After closing is finalized and recorded, the home is yours!
Welcome to your new home.