The Home Buying Process

This is where the fun and excitement of finding the right home for you starts. As you begin a home buying relationship with your CENTURY 21 Rauh and Johns sales associate, they will guide you through multiple preliminary processes designed to improve your home buying experience, including:

• Mortgage Pre-qualification Process
• When purchasing entirely with cash – proof of funds is required (ie: bank statement)
• Discuss ‘what is important to you based on your mortgage qualifications and what you can afford (price range as related to monthly principle, interest taxes and insurance (PITI)
• Location (area zip code, school systems, proximity)
• Home style (traditional, colonial, etc.)
• Home structure (single, townhouse, condo, ranch, # of stories)
• Property size (Square Footage, Acreage, # of Bedrooms, Bathrooms, Etc.
• Type of Home (Standard, Bank Property, Short Sale, New Construction)

After you have identified pricing and features, your agent can send you a list of properties based on your criteria via email. You may also begin the search process using this website designed to help you assess multiple properties before selecting the best home for your needs. At this step, your sales associate will schedule showings for you to physically view the property.

Once you’ve selected the right home, the transaction process begins. In a typical home buying process, you’ll start by making an ‘offer to purchase’ on the house. After your offer is accepted by the seller, your sales associate will continue to assist you with scheduling and coordinating items, such as:

• Termite inspection
• Radon Inspection (If desired)
• Septic Inspection (if applicable)
• Lead Base Paint Inspection (If applicable)
• Closing date
• Mortgage Application (Work With Mortgage Company)
• Appraisal (Ordered By Mortgage Company)

Closing day is the start of new beginnings. Once settlement on your new property is complete, the excitement and exhilaration of receiving the keys to your new home is a once in a lifetime experience. Purchasing a home is a big step, as you enter as owner for the first time, take lots of pictures to celebrate the momentous occasion, you deserve it!

Not sure if you should buy a home?

The rent you pay could build equity in your own real estate. Do you realize how much you pay in rent over a period of years? If you pay $1,000 a month in rent, in 15 years you’ve paid a total of $180,000…and you will have gotten $0 in return on that investment.

And that’s not counting other advantages of home ownership – tax-deductible mortgage interest, being able to make changes without approval, increased value of your property, and a house that is a home, not a temporary living situation. Home ownership offers immediate benefits and long-term value. Homeowners accumulate wealth for the future, while enjoying the benefits of a shelter that they can use, improve and sell.

Even so, you may find the process of buying a home a little daunting and sometimes overwhelming. You’re not alone. If you’ve never bought a home before or you need more information, check out our home buyer’s guide! No two buying experiences are the same, but these home buying tips provide an idea of the different steps you may encounter when buying a property.