Buying real estate can be difficult. Having a guide(real estate broker) on your side can help a lot. Here are the 8 steps that a buyer goes through.
- Find an Agent. In NYC there are thousands of agents that you could can pick from. Why would you pick me? Is it because of experience, referral, reviews, Google search social media presence, or a friend? All these are a part of the process. I suggest you meet the Broker and see if it fits.
- Financials: Make sure to get everything in order and ready. You will need pre-approval, proof of funds, and credit history.
- Search. With the help of your broker, you will begin to search for properties that you like and can see yourself in. Location Location Location. Tell your Broker what you are looking for and what you would like to tailor the search.
- Once you have seen the house of your dreams, you make an offer. This is where negotiations begin and sometimes can be frustrating. Stay calm and do not make it personal. Be focused on the goal. Make sure that you have an attorney ready for the contract to be reviewed.
- Once your offer is accepted, you should have a home inspection before contracts are sent out. Once you have reviewed the report you can either move forward with the contract or negotiate issues.
- Fully Executed Contract: Both Seller and Buyer have a signed contract in hand and now the title company and bank need time to do their due diligence. An Appraisal will be done by the Lendor and a Survey.
- Schedule your Move. You are almost at the finish line. Get your mover ready and set the date.
- Closing: Usually held at the Buyer’s Attorney's office. Make sure you bring blank checks and bring pens. You will be signing a lot of documents and it usually takes around 2 hours.
Here is a link to our Guide to A Signature Experience