Pathway to Home Ownership: Discover and Buy Your Dream House Imagine buying your dream home. Let our experienced staff help you make it happen.
At LNK Real Estate our mission is to make the home-buying process as smooth and enjoyable as possible for our clients. We understand that purchasing a home is a significant decision, and we’re here to guide you every step of the way. To help you get started, we’ve created this comprehensive home-buying guide, covering essential topics, and providing valuable resources.
Determine Your Needs and Priorities:
Preparatory Command: Before diving into your home search, take some time to evaluate your needs and priorities. Consider factors like location, property type, size, and desired features. By having a clear understanding of what you’re looking for, you’ll be better equipped to find the perfect home that meets your criteria.
Command of Execution: So how do you do that? You will take a piece of paper and draw a line down the middle and on one side you write NEEDS – I need 3 bedrooms, I need 2- bathroom areas or I need a Primary Bathroom. Then on the other side, you write down the WANTS – I want a fenced-in yard, I want a 3-stall garage. This small step will put on paper what you are looking for when you are reviewing homes. There is a lot going on when going through houses and this small step will help you to clearly differentiate your wants and needs, keep them in their proper place and keep you focused.
Establish Your Budget:
Preparatory Command: Understanding your financial situation and setting a realistic budget are crucial steps in the home-buying process. Consider your monthly expenses, savings, and future financial goals to determine how much you can comfortably afford. Don’t forget to factor in closing costs, moving expenses, and any potential home repairs or upgrades.
Command of Execution: This is a great time to sit with your financial advisor or mentors in your life and get real with them about your decision to buy a home. The more you can share with them your budget and plan to move forward, the better they are able to provide you with guidance and information as to how well you are fiscally prepared for this big decision. Be selective with the people in your life that you choose to be a part of this experience., We all want to believe that most people want to be there for us and consider our best interests, but sometimes it just isn’t the case.
Get Pre-Approved for a Mortgage:
Preparatory Command: Obtaining pre-approval for a mortgage can make your home search more efficient and show sellers that you’re a serious, qualified buyer. A mortgage professional can help you determine your eligibility and provide guidance on the best loan options for your situation.
Command of Execution: I would encourage you to talk with several mortgage officers around town as there are a lot of great people in Lincoln. I would strongly discourage you from working with Rocket Mortgage or an Online loan officer. They usually have substantially more fees and if on the off chance something goes wrong, you may only be able to converse online or have alternative individuals assisting you. When you need assistance from someone you can trust, wouldn’t you want to speak directly with the specific someone that has been there with you from the beginning?
Home Search and Property Tours:
Preparatory Command: With your needs, wants, priorities, and budget in mind, we’ll work together to find homes that match your criteria. We’ll schedule property tours, providing insights and recommendations based on our market expertise and your preferences. As we visit homes, we encourage you to take notes and photos to help you make informed comparisons.
Command of Execution: When starting the search, and looking at homes 3 things are going to happen:
- You will fall in love. That is okay and go for it! Our goal is to find the home that meets your criteria, and you are excited about living your future in this home.
- You hate the home. This can be great too. Not all houses are the same and Listing Realtors are hired to showcase the best of the home and focus on its best or potential features. From time to time, you will get into a home it doesn’t work for you, and it can be very disappointing. No problem, throw it out, move on, and stay focused on your goal and responsibility to look at homes to find the right home for you.
- You like the home, but it’s not quite perfect or may not meet all your criteria. Most likely this is what will happen; You go through a home, it’s nice and you are okay with it, but something just isn’t right or doesn’t meet your needs and wants You go through a home, and there are things you like, this home could work for you, but you are not enthusiastic or have a good feeling about the home. This is a good time to pull out your needs and wants and check everything on your list and keep this home on your list as a comparison house. You keep moving forward until you find the one that fits the comparison house the best, but you have more enthusiasm about the home and feel this home is a good fit for you. Now you jump on it!
Making an Offer and Negotiation:
Preparatory Command: Once you’ve found the right home, we’ll help you craft a competitive offer based on market conditions and the property’s value. We’ll negotiate on your behalf, working to secure the best possible terms and conditions for your purchase.
Command of Execution: Making the offer is a time you sit with your Realtor and think about what is important; price, closing day, inspections, warranties, title, and earnest money. This all needs to be discussed and decided before submitting the offer. It’s important that you lean into your Realtor, bounce your ideas with the Realtor ask all the questions you have about the offer. This is the Realtor you have chosen to work for you and provide their expertise in writing an offer.
Home Inspection and Appraisal:
Preparatory Command: After your offer is accepted, we’ll guide you through the home inspection and appraisal process. These steps are crucial for identifying any potential issues with the property and ensuring that it’s worth the agreed-upon purchase price.
Command of Execution: The home inspection process is a critical step in the home-buying journey, as it provides valuable information about the property’s condition and helps identify any potential issues that may need to be addressed or further negotiated. It is essential that you are present for the “Walk-Through” with us and the Inspector immediately following his inspection. They will report their findings and answer any questions you may have. Next, we will discuss and prepare a written summary for the seller of what if any items we expect the seller to repair and/or replace, prior to closing.
Preparatory Command: We’ll be with you every step of the way during the closing process, ensuring that all necessary paperwork is completed, and deadlines are met. Our goal is to make the closing process as smooth and stress-free as possible for you.
Command of Execution: The closing process, also known as settlement or escrow, is the final stage in the home-buying journey. We will schedule for you the closing appointment for you to sign all necessary paperwork, the transfer of funds, and the official transfer of ownership from the seller to the buyer. You will need to bring with you a photo ID such as a signed U.S. driver’s license, U.S. ID card, or U.S. or foreign passport.
Moving In and Beyond:
Preparatory Command: Once you’ve closed on your new home, we’re still here to help. We can provide recommendations for local services and resources, such as movers, contractors, and utility providers. And, of course, we’re always available to answer any questions or address any concerns you may have as a new homeowner.
Command of Execution: Enjoy your new home and paint the room!
At LNK Real Estate, we’re dedicated to making the home-buying process a positive experience for our clients. Our comprehensive home-buying guide is just one of the many resources we offer to help you find the perfect home. We look forward to assisting you on your journey to homeownership. Contact us today to get started!