1. Save Your Down Payment
Many believe that a down payment of at 20% is needed to buy a home. There are many loans available that allow buyers to put down as little as 3% or 0% with a VA or USDA loan. There also many different kinds of loan programs depending upon the bank, the type of loan and your profession. Your Coton House agent can help guide you to lenders that most closely fit your needs.
2. Know Your Credit Score
Your credit score is a numeric representation of your history and ability to pay back debts in the past. Different home loans have varying credit requirements. To purchase a home, your credit score does not have to be impeccable, although it does help. We have agents who can help and we also have credit specialists we can guide you to.
3. Find A Coton House Real Estate Agent
Your Coton House agent not only knows neighborhoods, contracts, the ins- and-outs of home transactions, but they also understand homes. No other agency in town has an interior design and remodeling component under one roof. This allows our agents to gain constant education on building practices, vendor partners, products and trends.
4. Get Pre-Approved
Your agent will have a list of preferred lenders that you can work with to get pre-approved for your mortgage. This will help keep you on budget during the next steps! It also helps to narrow down what price home to look for and help keep the search focused.
5. Go Home Shopping
Make a list of what you want vs. what you need in your home. Your agent will use this list to find a home for you to tour. Remember, this search is a process. It takes a team to find the home that’s right for you.
6. Make An Offer
Your Coton House agent will help you determine the best price to offer for the home. In a competitive market, you may not be the only one bidding & will want to stand out. Your agent will give you the pros and cons of the scenario, give advice and offer any information possible for the transaction.
7. Get A Home Inspection
Once your offer is accepted, you will want to do a home inspection to ensure there are not any hidden issues with the home. Coton House agents understand inspection reports, can walk you through them and assist with negotiations to ensure you are best represented to get your requests handled efficiently and effectively.
8. Get A Home Appraisal
Your lender will arrange a home appraisal to ensure that the property is worth the price that you have agreed to pay for it. The bank will only issue a loan for the appraised value. If there is an issue, your agent will walk you through the possibilities and will work for you to achieve the best outcome.
9. Close The Sale
Once your loan is approved, a closing date will be scheduled by your agent. This is when all paperwork is signed, the note is funded to complete the process and you get the keys to your new home!
10. Move In!
Congratulations! You are a homeowner!
Contact us with any questions.
(832) 304 7782
contact@cotonhouserealty.com