buyer's guide

process

The buying

How do I buy a home?

Buying a home can often be daunting and confusing for new home buyers as well as savvy investors. When you choose The Agent Creative, you will clearly understand and feel confident in the process. Learn how…

1

step

Meet with The Agent Creative to discuss your needs including price, location and style.

2

step

Get pre-qualified and/or pre-approved: Not only will you clearly understand your budget, but you also will show the seller you are a serious buyer.

3

step

Search for homes: The Agent Creative will search for every available home that meets your criteria (as well as a few “outside the box”) and will schedule showings that are convenient for you.

4

step

Make an offer: The Agent Creative will help you make an offer based on market data and terms that best suit your needs.

5

step

Negotiate: The Agent Creative will work diligently to negotiate on your behalf to reach the best possible outcome for you.

6

step

You’re Under Contract: You and the seller have agreed to certain terms and now must work within a certain timeframe to implement those terms.

7

step

Move from contract to closing: The Agent Creative will guide you through every step toward closing on your home including holding your earnest money, performing due diligence and ordering an inspection and appraisal.

8

step

Close on your new home: The Agent Creative will schedule the closing where you will sign all necessary paperwork to finalize your loan, disperse funds, and transfer the the home’s title to your name.

questions

What's the first step of the home buying process?


Getting a pre-approval letter from a lender to: - Let you know how much you can borrow and prevent disappointment caused by falling in love with unaffordable homes. - Show how much money is required for the down payment and closing costs. - Demonstrate that you are a serious buyer to both your real estate agent and the person selling their home.




How long does it take to buy a home?


Under normal market conditions, the average time to complete the sale of a home is 30 to 45 days, giving you enough time for due diligence and get a loan completed.




What is a "Seller's Market"?


In a seller's market, increasing demand for homes drives up prices. Here are some of the drivers of demand: - Economic factors - Interest rates trending downward - A short-term spike in interest - Low inventory




What is a "Buyer's Market"?


A buyer’s market is characterized by declining home prices and reduced demand. - Economic disruption - Interest rates trending higher - Short-term drop in interest rates - High inventory - Natural disasters




How much do I have to pay an agent to help me buy a house?


Home buyers pay little or no fees to an agent to buy a home. Listing brokers represent sellers and charge a fee to represent them and market the property. When the home is sold, the listing broker splits the listing fee with the buyer’s agent. Thus, buyers don’t pay their agents.




How much do I need for a down payment?


The national average for down payments is 11%, though first time homebuyers usually only put down 3 to 5% on a home. Conventional loans often require more and are typically taken out by repeat buyers who could use equity from their existing home as a source of down payment funds. There are also programs that can take the down payment even lower, depending on circumstances.




How many homes should I see before buying one?


That’s up to you! The ability to search for homes online and see pictures, even before setting a foot outside the comfort of your living room, has completely changed the home buying game. Convenience is at an all-time high. But, nothing beats visiting a home to see how it looks and ‘feels’ in person. The Agent Creative will help arrange and be with you on these visits.




How do I know if I'm getting a good deal?


While there’s no crystal ball, the best way is to work with The Agent Creative to check out comparable sales and whether those prices have been going up or down in the recent past




What is earnest money?


When you make an offer on a home, you'll need to provide a “deposit” to accompany it, typically 1% to 2% of the purchase price. Earnest money is made in good faith to demonstrate – to the seller – that the buyer’s offer is genuine.




How long can the seller take to respond to my offer?


Your written offer will stipulate the timeframe in which the seller should respond. A typical timeframe is 24 hours after the offer is submitted.




Should I get a home inspection?


Yes! While not always required, home inspections are highly recommended because they can reveal defects in the home that are not easily detected. Home inspections bring peace of mind to one of the biggest investments of a lifetime.




Can I back out if I change my mind?


While buyers can always back out of a deal, doing so without good reason, or outside what is stipulated in the contract, may forfeit your earnest money.




Do I need to do a final walkthrough?


The Agent Creative always recommends and provides a final walkthrough. This gives us the chance to make sure all requested repairs have been made and nothing has changed since the contract was executed. You, as the buyer, can choose to be present if you wish.





Frequently Asked 

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