Buying your first home can be overwelming.Â Â Â In our experience in representing many first time homebuyers we have developed a process that makes the process much easier.Â Â We recommend you follow these steps when you are considering purchasing your first home:
1)Choose the right professional Real Estate Agent-Â Make sure the agent is experienced in representing first time homebuyers and specializes in the market you are looking in.Â For example, we at The Andrew Neal Group specialize in Fishers and Geist Residential Real Estate.Â First time homebuyers contact us if they want someone that knows the best neighborhoods, type of home, which builders to use, etc.Â Â Â The best way to determine this is to interview the agent over the phone or set up a buyer consulation at the agentâ€™s office.
2)Get Preapproved for a Mortgage-Â Â If you are going to finance your home one of the first steps is to call a Mortgage Broker or your bank toÂ get qualified for a loan.Â This is what we call getting preapproved.Â Â You will be able to ask all the financing questions that you will have such as how much downpayment do I need, whatÂ interest rate,Â shouldÂ I do a 15 or 30 year loan, andÂ what is the monthly payment atÂ certain price points.Â Our Morgtage Broker John Murphy 317-679-8015 can speak with you over the phone or meet with you for a very short and informative consulation.Â The mortgage broker runs your credit and asks qualifying questions.Â The broker will then email you and your Realtor a letter saying you are qualified for up to a certain amount of loan.Â Â
3)Research Properties Online-Â Â Go to websites such as www.Realtor.com, www.Zillow.com, and www.DealwithNeal.com Â , to get an idea of what you are looking for and to figure out what you can get for the money.Â This way you will be much more informed once you meet with your Real Estate Agent.
4)Setup a Time to View Properties For Sale-Â Â With a list of properties compiled by you and your agent, you will be all set to go look at the best options available.Â Â Take your time give yourself a morning or afternoon so that you donâ€™t have to rush through the properties.
5)Take Notes-Â Â We recommend you take notes on each property you look at.
6) Narrow Down the Options- Pick the best 2 or 3 and inform your Realtor you would like to go out and see the homes for a second time.Â Â Â This is the best way to take more time in your favorite properties and pay attention to details which you may have missed during the first showing.
7)Making an Offer to Purchase-Â Once you have selected your favorite options have your agent run comparable sales(comps.) to figure out the market value.Â Make a fair offer under market value and have your agent negotiate the best terms.
8)Order an Inspection-Â Â Have your agent recommend 2-3 inspection companies and have an inspection.Â Once you get the report,Â demand the major items to be fixed by the seller.
9)Do a Final Walk-Thru-Â This is very important and should be done one or two days before closing.Â Go back through the house with your agent and make sure all the items are fixed and the home is in the condition that you purchased it in.Â This will protect you in case the seller has neglected it or has taken the refrigerator.Â
10)Closing-Â Â You will go the title company and sign all the paperwork.Â Â After you have done this the house is yours! Congrats!
Following these steps will help your process be as painless as possible and will help you get the best house for the best price.Â Â If you are looking in the Fishers, Indiana or surrounding areas and would like us to represent you feel free to fill out the contact form on the right hand side or call us at 317-814-5530.