2019 Boise Idaho Real Estate Blog

How to Buy a Home, a step by step guide Main Idaho Real Estate Insights

So you’ve finally decided that you’re tired of paying your landlord's mortgage every month and having nothing to show in return. Congratulations- you’re on your way to becoming a homeowner! Did you know that a homeowner's net worth is substantially more then those that rent?

Your first question may be "how do I get started?" You have probably driven by open house signs and maybe even stopped by. Have you surfed around online to see what is for sale but not sure what would be a good fit? At this point you may be confused or even have information overload. Let's break it down for you in 6 easy to follow steps.

Meet with a Boise Real Estate Expert

There are a lot of moving parts when buying a home so we recommend working with an agent who has the full support of a succesful real estate team. A team offers more services amd more comprehensive client experience than a single agent can offer, which is very important. There are many professional involved in making sure that the home you buy is as you are expecting including home inspectors, title & escorw companies, home insurance, mortgage lenders, sub-contractors and more. While finding a home is important, getting to the closing table is the crux of the transaction. A team not only supports your agent but also great market insight as other people can share information that a solo agent may not have access to. An agent can ask their team questions about a subdivision, builder's reputation and other details not available at Nextdoor.com or other public forums.

Did you know that you do not pay to have an agent represent you. Your agent is normally paid when the property closes by the seller.

Make Financing Arrangements a Priority

Are you are paying cash for a home? This makes things a lot simpler and is a great way to leverage your buying position. One of the duties of the agent for the seller is to help them make great decisions. Consideration of a cash offer is much stronger then worrying if the Buyer's finance will come through at closing. As a reminder, we are normally taking about hundreds of thousands of dollars.The median price of a home in Ada County is now well over $330,000.

If you are not already talking to a professional loan we would be glad to introduce you to someone who has succesffully helped hundreds of happy home buyers. If you are working with someone, we also recommend verifying you are getting the best service and offer from them. Are you getting the best interest rate paired with the best loan programs available? This is how you’ll most likely be paying for your home so it’s important to have someone you know will return calls and not drop the ball.

Finding the Perfect Home

With a professional Idaho Real Estate Agent and Loan Professional you should armed to enter the buying arena. You now know how much house you can afford plus you understand more about buying a home with great advice from YOUR Team. Along the way your agent has helped you identitfy your needs and wants as well as location, bedrooms, bath and any other search criteria that is important for you. Now you can start search for a house. Your agent will help by sending you alerts of the newest homes that match your criteria.

Getting an Offer Accepted

Once that perfect home is available, you arrange to go see it with the agent and determine if you want to move forward with an offer? Your agent should be advising you on additional things about the specific property  along the way so you’re not blindsided when “the one” arrives.

Your Offer was Accepted, Now What?

Finding the home was not as simple as it seems and now your agent goes to work for you to help you win the home. Working with an agent who has a great reputation and is well networked locally will be very helpful. The seller wants to get the best offer for their client but they also need to know that the other agent is someone who is going to communicate well with them and get the job done, meaning get teh contract and buyer to closing successfully.

Next up is the home inspection. ALWAYS get the home inspection! You never know what is below the floors, in the wall or what the seller forgot to tell you, even in un-intentionally. A home inspection is worth its weight in gold. It is similar to buying a used car and having your trusted family mechanic taking a look before you hand over a check.

It's Closing Day!

30-45 days have already passed since you made your an offer to buy the home. Your financing has gone through under writing and title work has been completed . . . . so get ready to sign, sign and sign again. You’ll most likely go to the title company and the they will walk you through all the documents. Once you sign all your documents, they get recorded at the county courthouse making the transaction final and making you a HOMEOWNER!

Ready to Get Started?

 
Posted by tlangford at 12/2/2019 7:18:00 AM
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Michelle Penick, Build Idaho Client Real Estate Services

Michelle Penick

Client Care Team
208.629.0217 | [email protected]

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