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6 Steps on How to Buy a New Home

Closing on a home and receiving the keys

Ready to purchase a new home but don’t know where to start? There are many details to work out, but we can help you break it down. No matter if you are a first-time home buyer or a seasoned one, The Young Team has you covered with tips and tricks for a streamlined process. Below are 6 steps that outline the home buying experience. 

 

1. Partner With a Realtor
The best real estate agents have a strong local knowledge of the area and a proven track record of successfully helping clients buy their new home. Collectively, our agents have served more than 2,500 families in real estate transactions. Each of our realtors is highly skilled and has extensive expertise in the Northeast Ohio housing market. 


Mortgage application during the home buying process2. Mortgage + Pre-Approval
Before obtaining a mortgage pre-approval letter, compare rates and choose a lender. The Young Team recommends Sean Hadley at Cross Country Mortgage. The lender you choose will assist in helping you determine the mortgage payment you can afford by evaluating your debt to income ratio.


3. Home Search
Now it is time for the fun part! After getting pre-approved for a mortgage, you have a better understanding of what you can afford. Your agent will assist you in finding homes that meet your needs! Whether it be a specific location, number of bathrooms, or yard size, your agent will help you find your dream home. View homes for sale in Northeast.

4. Contract Negotiations
After selecting a home you would like to purchase, it is time to make an offer! Your real estate agent will help you negotiate a purchase price, close date and guide you through the steps of preparing for a down payment on the home. During this step, you will need to choose a title company to transfer the homeownership to you! We recommend GM Title & Escrow Services.


5. Under Contract
The home seller has accepted your offer! Now the ball is in your court. At this stage you are ready to schedule a home inspection, negotiate repairs and solidify the contract and move in date. Also while under contact it is time to order an appraisal, secure a home loan and acquire home insurance. 

Getting the keys when closing on a home6. Closing
At this point, you and the seller have agreed on the logistics of the home purchase. Now it is time to work with your lender and title company to complete the transfer of the title of the home to you. Lastly, the most important part of the home buying process: time to pick up the keys and move in on the date previously negotiated.


Ready to get started? No matter what step you are on in the home buying process, we are here to assist you.
Meet the agents at The Young Team.