Buyers

What’s the Home Buying Process?

• Step 1: Meet Sue Schmidt

  Once you select Sue Schmidt as your Houston Realtor, she’ll set aside time to get to know you and your real estate needs. A buying plan will be provided that lays out exactly what you can expect from Sue throughout the process.

• Step 2: Get Pre-Approved for a Home Loan

  Before you start browsing through home listings, it’s important to get your pre-approval from a mortgage broker. This will give both you and Sue the opportunity to know your purchasing power. Plus, as a pre-approved buyer, any offer will be more desirable to a seller – helping to speed the process to the end.

• Step 3: Find Your Dream Home

  Sue will help find homes that fit your criteria such as location, size of the home, amenities, and of course, price range. Together, we can schedule showings for these homes and preview them through an in-person tour.

• Step 4: Make An Offer & Get Accepted

  When you find a home that meets your criteria, Sue will work with you to put together the most appealing offer. From purchase price, closing date, sale contingencies, or any other special requests, your offer will give the seller everything they need to know about you. This is where having a Realtor is the most important, especially when it comes to negotiating and competing with other offers.

  Once your offer is accepted, Sue will coordinate the signing and sending of any contract documents and get the buying process underway. Your closing date is usually within 30-45 days after the contract goes into effect, but is often contingent on your title company, mortgage broker, and seller circumstances.

• Step 5: Schedule a Home Inspection

  Once your contract is accepted, you’ll need to schedule a home inspection to get an idea of any physical defects or repairs. They will inspect the main systems of the house such as the roofing, plumbing, mechanical, and electrical systems. If you prefer, you can also choose to have other inspections of the home regarding any structural, well/septic, lead-based paint, mold, or other issues.

  If possible, it’s recommended that you be present at this inspection. Along with helping you learn about your home, you can get a clear understanding of what needs immediate attention. Depending on your contract, further negotiations may be needed after a thorough review of the inspections.

• Step 6: Request an Appraisal

  Once your home is under contract, the lender will send a licensed appraiser to look at your property and determine its market value. If this amount is different than what was previously negotiated, you may have further opportunities to negotiate or terminate your contract.

• Step 7: Finalize Homeowner’s Insurance and Loan Approval

  Before you can finalize the purchase, you’ll be required to shop for a homeowner’s insurance policy.. In order to close on the property, your insurance company will need to send this information to your mortgage lender to obtain loan approval. In addition, your mortgage lender will need employment verification, the appraisal, and verification of funds that you can cover the closing costs and down payment. Other personal information may be required depending on your situation.

• Step 8: Have a Final Walk-Through

  A couple of days before closing, you’ll have the opportunity to walk through the property one final time. This is done to ensure that any agreed-upon repairs or requests in the contract are complete.

• Step 9: Attend the Closing & Get Your Keys

  The big day has arrived! As the buyer, you will send a wire or bring certified funds to the title company where you will be signing the closing documents. Sue and the lender will review the final figures with you before signing any of the necessary documents. Once the paperwork is signed by all parties and the lender has funded the mortgage, you’ll be given the keys to your new home!