The first steps to buying a home are to be connected to a trusted REALTOR^® and to understand your buying power and financing options. This will allow you to establish your price range and buying strategy. A licensed lender can assess your personal financial circumstances and determine how much lending you qualify for. Once you and your lender identify a loan vehicle and budget that match your goals, your lender will provide you with a pre-approval letter. Having a pre-approval letter to submit with your offer will greatly improve the likelihood your offer gets accepted. It gives the Seller the peace of mind that you are qualified and prepared to move forward with the purchase of their property. Plus, you\'ll feel confident knowing you can comfortably afford the homes you\'re considering.

You can start your search for the perfect home immediately. Just click \'Map Search\' under \'Find Your Place\'. Plug in your search criteria for up-to-date listings in your desired neighborhoods. You can create a free account to save your favorite properties, request showings and more! Your Maywright REALTOR^® can also set up a custom to-your-email search upon request. Your Maywright REALTOR^® can even send you hand-selected properties to consider. When you find a place that looks appealing, just let your REALTOR^® know and they will happily arrange a time for a private tour. If you\'re not able to see homes in person, your Maywright Realtor can arrange a virtual showing or video tour. Touring homes is a great way to learn more about your wants and needs to determine whether a certain home is the right fit. Already have a home in mind you\'d like to see? Reach out today to schedule your showing with your Maywright REALTOR^®!

When you have found the right property, it\'s time to make an offer. Your Maywright REALTOR^® will educate you on the offer terms and help you draft the necessary paperwork. They will advise you on constructing the strongest offer possible while protecting your interests. Once your offer is signed, usually done electronically, your REALTOR^® will present your offer to the other party with the goal of reaching an agreement. If both parties reach an agreement in writing, this means you have an accepted offer and the property moves into a \'pending\' status until you close/purchase, or release from the agreement. Counter offers may also occur between Buyers and Sellers until an agreement is reached.

Now that your offer has been accepted by the Seller, it\'s time to take the steps necessary to close on the property. Some of these steps include making an earnest money deposit, securing your homeowner’s insurance, and formally applying for the mortgage through your lender and/or liquidating funds for the purchase. Your REALTOR^® will ensure you are aware of timelines established in the contract and will provide recommendations and guidance along the way. They will help communicate with third parties like lenders, title companies and insurance companies as needed to protect your interest and keep you on track for the closing date.

Reserving your right to a home inspection is an important step in understanding the physical condition of the property before you purchase. Your REALTOR^® can help connect you with reputable, licensed home inspectors and contractors. These third party vendors will thoroughly evaluate the property\'s structure and systems. They will educate you on potential repairs needed and their associated timelines and costs. Your REALTOR^® will help you negotiate potential repairs or credits toward repairs depending on the accepted contract. The inspection period typically leads to a second round of negotiations until both parties reach an agreement in writing or agree to terminate the contract.

An appraisal is a third party assessment of the fair market value of a property. If you are obtaining a mortgage, your lender will arrange a professional appraisal via a blind selection process. If you are purchasing a property with cash, you may still reserve your right to obtain a professional appraisal, if you desire. The appraiser will visit the property and complete a report for the Buyer and Lender stating the appraised value based on comparable properties. If the property appraises for less than the agreed upon purchase price, you have the option to renegotiate the contract price or terminate the contract.

Prior to closing, your Maywright REALTOR^® will meet you at the property for a final walkthrough to ensure it is in satisfactory condition. In general, this appointment is to make sure the home remains in the same or better condition as when the original offer was made. If repairs were negotiated during the inspection phase, your REALTOR^® will confirm they were completed according to the contract. Your REALTOR^® will also ensure all negotiated property, like kitchen appliances or curtains, remain in the home. This is the final opportunity to call out any problems identified with the home before closing. Depending on the Purchase Agreement, you may sign a formal contract addendum confirming the walkthrough is complete and the condition of the home is acceptable. This is typically done within 24-48 hours of the scheduled closing.

The big day has finally arrived! It\'s time to make the home officially yours. You will sign required paperwork to complete the purchase and loan documents. This is typically done at a title company or in front of a notary public. Your REALTOR^® will typically be present to ensure all goes smoothly. Once all the necessary paperwork has been executed and all funds have been received, you will receive the keys to your new home and you may move in and make it yours! Leading up to this day, your lender will provide a final Closing Disclosure that summarizes your loan terms, monthly payments, taxes and other costs associated with the closing. They will confirm you are clear to close and that you understand the amount of funds you are responsible to provide. Your REALTOR^® will make sure you feel prepared for this appointment and that you\'ve completed other important tasks leading up to this day, like establishing utility accounts and changing your mailing address.

You have reached your goal of home ownership but that doesn\'t mean your relationship with Maywright has ended. Many of our clients become lifelong friends and clients. Our goal is to continue to be a resource you can rely on for years to come. Maywright clients rely on us, return to us and refer us to people they care about - and we’re so grateful for that!