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Information for Buyers
Buyers that choose Foundation Home Realty come from all over the country. They are your friends with growing families, that need a bigger home, or people that are in a life transition looking to down-size, so there is not so much to take care of.
Foundation Home Realty buyers move across the county, state and country to relocate to our beautiful area. Buyers purchase more homes here because of job changes, city attractions, child rearing, or just to fulfill their dreams of one day returning to the place they once called home.
Foundation Home Realty agents are trained experts in their field. They know how to guide you in the right direction, with each and every move. We pride ourselves on quality customer service and first-hand industry education.
Let's begin the home buying process so that you can understand how easy and hassle-free Foundation Home Realty agents make it for our valued customers.
Choose a link from the list below, or follow them step-by step to learn more:
#1 Getting Ready To Buy
So, you are ready for the “American Dream?” Preparing to buy a home can be exciting and terrifying at the same time. Luckily, a Foundation Home Realty agent can lead you in the right direction toward the home for your dreams. You first may want to ask yourself:
- What are you looking for in a new home?
- Do you have enough money to purchase a new home?
- How does your credit look?
You may want to make a list or brainstorm about the features and amenities that you find most appealing in a new home.
#2 Finding a Realtor
Before you choose a real estate agent, it is important to do your homework on the real estate companies in your area.
Talk to people. 9 times out of 10, someone you know has sold their home and can point you in the right direction and provide a credible recommendation.
Feel free to ask them the following questions:
- What services will you provide for me as my agent?
- How will you represent me as a buyer?
- Can you provide as much information as I need about homes in the area that fit into my price range?
- Explain the paperwork that I need to sign
Once you have chosen an agent, it is important to establish specific goals that you would like to meet. It is very important to communicate with your real estate agent and that, in turn, your real estate agent communicates with you.
#3 Starting the Loan Process
It is important as a buyer that you have your financing in place before you make an offer.
The pre–approval process is when a lender looks at all of your finances and credit history to determine the amount of money you can afford for a mortgage.
#4 Starting Your Search
Now, it is time to start the exciting search for homes! You may want to narrow down your search by asking yourself the following questions:
- Where do I want to live?
- What is the neighborhood like?
- What is the crime rate?
- Would I be moving into a good school district?
- Are there any zoning restrictions?
- How far is this home from my job?
- What is my price range?
- How many bedrooms and bathrooms do I want?
- What style of house are you attracted to?
- What amenities do you desire (ex. pool, fenced-in yard, etc.)?
- Does this home have potential to increase in value?
- Is there room to expand if we would like to build an addition?
Searching for a home is becoming easier than years ago. We now have the Internet as a powerful “home finding tool”, as well as the MLS (Multiple Listing Service) and print advertising.
#5 Finding Your New Home
Beginning the search for your new home can be a great feeling. It is important that you directly communicate what you desire in a home to your real estate agent.
You may want to first begin by making a list of the features and benefits that are most important in your pursuit of finding a home. These could be:
- Location
- Affordability
- Size
- Style
- Design
- Amenities
Looking for a home in an area where you feel comfortable is key. Instruct your real estate agent to look in specific areas that you have designated.
#6 Making an Offer on a Home
Selecting a home should be relatively simple once a home falls somewhere in your criteria and the property is desirable for purchase.
You will want to inform your real estate agent what you like about the house and make a list of your likes and dislikes with the property.
There are three steps in selecting a home: accept the seller's asking price and have your agent write up the contract, reject the seller's asking price and have your agent make a different offer, or agree to different terms and have your agent write an offer. This is all a part of the negotiation process.
Communicating about the house and how it makes you feel is important when making this decision. It is also important to be realistic when it comes to how much you can afford when selecting “your” home.
#7 Financing
Letting an experienced loan officer do your homework about loans will save you time and money. Foundation Home Lending can help you decide:
- How much money should you put down?
- How to structure your mortgage?
- Which loan program is right for you?
Foundation Home Lending can help you make these decisions and walk you through every step of the process. Click here for more information on mortgages.
#8 Insurance
Insuring your home is like making an investment in your future. You work hard to have a home and homeowners insurance protects you and your family from someone or something from taking it all away.
There are many different forms of insurance:
- Title Insurance – which protects you in the event that the title on your property has a lien, unpaid taxes, or other legalities that would make it invalid.
- Homeowners' Insurance – which protects your home from fire, theft and other liable coverage.
- Flood Insurance – which protects your home from flood damage.
- Home Warranty – which offers buyers and sellers the piece of mind that should anything unexpected happen (due to normal, every day wear and tear) of the home's appliances, heating, air conditioning, plumbing, and electrical systems, it will be repaired (or replaced in some cases) for you without costly fees.
#9 Closing Procedures
The closing process is always changing. It is even referred to “settlement” or “escrow” in different parts of the county. With increased technology, most closings are completely automated and both parties do not have to be present at the same time to sign.
Closings usually take about 30 days to complete. This mainly depends on the buyer's financing availability, successful home inspection completion, and various lender conditions (ex. title search, title insurance, termite inspections, surveys and appraisals).
The closing process is the transfer of the title of the property from the buyer to the seller. The buyer will receive the keys to the home or the deed to the land, while the seller receives payment for the property. The amount the seller receives is based upon the amount that is still owed on the mortgage, any outstanding fees or taxes and any additional closing costs. All legal papers are filed with the local record office.
It is this step where the buyers and sellers do very little. It is important as the seller to take a final walk through the property to make sure the property's condition as not changed. It is equally important for both the buyer and seller to make sure the paperwork they are signing reflects the agreement of the original sale.
#10 Settling In
You have unpacked boxes, arranged your furniture and feel complete with your moving task. What's next? There is always an adjustment period when you move. It is important to understand that what you, your spouse and/or children may be feeling is completely normal.
Here is a list of a few things that may help:
- Urge everyone to talk about how they are feeling.
- It is important to get outside and tour the neighborhood or take a drive and visit some new places around the community.
- E-mail old friends and neighbors to let them know about your new home and community.
- Start a list about what they like about:
- Home
- School
- Neighborhood
- Community
- Church
- Friends
- Teachers
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