OFFER AND CLOSING

After you’ve completed a comprehensive search across the local market and zeroed in one the home for sale you want, it’s time to get the purchase process in full gear. Of course, bidding on a listing is just one step in the buying a home. There’s plenty to do once the paperwork gets going and after all of the t’s have been crossed and i’s have been dotted.

DETERMINE THE RIGHT BID


While those selling the listing you bid on have a specific list price, that doesn’t necessarily mean your first (or second or third) bid needs to meet their pricing requirement.
  • Rather, work with your real estate agent to develop a price point that you’re comfortable with and leaves room for negotiation with the sellers. One major factor in your bid should be what other homes near the listing have sold for in recent months and years, what types of residences those that sold are, how long they sat on the market, and any other relevant details you and your agent can secure.
  • A Comparative Market Analysis (CMA) conducted by your agent can provide you with an understanding of all of this information. From there, you can figure out what you’re willing to offer for a home for sale. Just remember that there may be one or more other buyers willing to make a better offer than yours.

GET A HOME INSPECTION


Once a seller has tentatively accepted your offer to purchase their property, it’s time to bring in a home inspector to comb over the residence and surrounding yard to ensure everything is up to snuff. Any serious issues that pop up — whether it’s old wiring or fragile roofing — should be brought to the attention of the seller so you two can determine who should take care of fixing them.

  • Consult with your agent to figure out how to negotiate who should take care of problems in and around the home.
  • After the inspector has confirmed everything else looks in order and you and the seller are still intent on moving forward, it’s time to start signing the paperwork and moving the deal along.

IT’S CLOSING TIME


You’re on the cusp of closing the deal and owning your very own home … but it’s important to pay attention to all of the minor details that need to be handled in order to make the purchase official. Thankfully, your real estate agent can help you with these tasks, like facilitating paperwork between your mortgage lender and signing the requisite forms.
  • Of all times during the home search process, this is the one when it’s absolutely vital to double-check every document and agreement to make sure you and the seller are on the same page. Many deals fall through at the last minute due to miscommunication, so work with your agent diligently to get the deal past the finish line in a timely and efficient manner.

HANDLE THE LOGISTICS


The deal is done. You’ve started moving your things into your new residence. The one final hurdle to leap? Setting up all of your utilities, getting your mail sent to your new address, and, more generally speaking, settling in to your new abode. As with the closing process, though, this isn’t something you have to (or should) go through alone.
  • A top-notch real estate agent sticks around for his clients to make sure the transition to their new properties is a smooth, headache-free one.
  • Moreover, a quality agent keeps in touch with their clients and checks in to see their progress made with their homes and how their families are doing.