Mastering the Home Buying Journey: A Step-by-Step Guide to a Smooth Transaction

The home buying process is complex. It is important to educate yourself as a homebuyer.  This blog is a simple step-by-step guide to a smoot transaction for mastering the home buying journey. 
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• Set your budget. Determine how much you can afford to spend on a home by reviewing your financial situation, including income, expenses, and any existing debts. Check out this home affordability calculator from NerdWallet. 
• Save for a down payment. In Washington State, your down payment can be as low as 3% or some Home Buying Programs offer a 0% Down. Contact the HWKI team about our educational classes and Tacoma Home Buyers Bus Tours.  
• Get pre-approved for a mortgage. Contact lenders to get pre-approved for a mortgage. This will provide you with a clear idea of how much you can borrow and will give you an advantage when making an offer. The lender will be thoroughly digging into your finances. Be prepared for this. It is important to find a lender that you have a good vibe and strong communication with. 
• Find a local real estate agent. Finding the right lender and the right real estate agent is key to assembling a team to help you master the home buying journey. Make sure you feel comfortable with your agent. Ask all the questions as many times as you need to ensure that you understand the decisions you are making. Buying a home is the biggest purchase you will make in your lifetime so you need to partner with a knowledgeable and experienced real estate agent who can help you create as smooth of a transaction as possible. A quality real estate agent will help you search for properties based on your criteria and negotiate on your behalf. You should be confident that your lender and real estate agent should are working in your best interest. 

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• Begin your home search. Research different neighborhoods and explore available properties within your budget. Attend open houses, schedule private showings, join the Home with K Isaacson Team for a bus tour of local homes, and consult with your real estate agent to help you find the right home.
• Make an offer. Once you find a home you like, work with your real estate agent to put together a competitive offer. This will include the purchase price, contingencies (such as inspections and financing), and a timeline for closing. Your real estate agent should go through these details with you to ensure you understand the transaction details. A smooth home buying process includes understanding what the home may need once you move in. 
• Complete inspections and due diligence. Schedule a home inspection to identify any potential issues that may need to be addressed by the seller. Consider conducting additional inspections, such as pest inspections and radon testing, if recommended. Here is a short video from Realtor.com that discusses what occurs in a typical home buyers inspection. 
• Secure financing. Contact your lender to finalize your mortgage application and provide any necessary documentation. Complete any required appraisals or property surveys.
• Close the deal. Review and sign all necessary documents at the closing, including the mortgage agreement and the transfer of ownership. Pay any closing costs and fees as outlined in your mortgage agreement.
• Move-in and settle into your new home. Once the transaction is complete, you will receive the keys to your new home. Arrange for moving services, utilities, and change your address with relevant parties.

Educating yourself and assembling the right lending and real estate team will help you achieve a smooth transaction for your home buying journey. It is crucial to thoroughly research and understand each step in the home buying process. Consulting with professionals and seeking advice from experienced homeowners can help you make informed decisions during this exciting journey. If you have questions about the home buying process or would like to discuss homes currently available in the market, please reach out to our team at Home with Kelsey Isaacson. 

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