Q: What are the steps in buying a home/property?
A: There is a process of buying a home, but don’t worry, I will walk and help you through the process!
- Pre-Approval process. This is the first step, as we need to know what you can afford
- Find a REALTOR
- This is where I ask you all the questions. What are you looking for? Price, location, size, etc
- I will start my home search with all the information I gather from #3
- View the houses you select
- Write offer to purchase the home. This will include contingencies, finance, home inspections, etc
- Offer is accepted
- Home Inspection
- Loan Underwriting, this is where your loan is either approved or rejected
- Purchase Homeowners Insurance
- Walk-Through- usually 24-48hrs before closing
- Schedule Utilities
- Certified check or wire funds
- Closing on your new home
- WELCOME HOME!
Q: I’ve never bought a home before- where do I begin?
A: The first step is always the “financial foundation.” This means checking your credit and getting a formal pre-approval from a lender. This not only tells us exactly what you can afford but also makes your offer much more attractive to sellers in competitive markets like Johnstown or Newark.
Q: How much do I really need for a downpayment?
A: It’s a common myth that you need 20% down. While that’s great for avoiding Private Mortgage Insurance (PMI), many buyers qualify for FHA loans (3.5% down), Conventional loans (as low as 3% down), or even VA and USDA loans (0% down for those who qualify).
Q: How long does the buying process take?
A: Once we have an accepted offer, the typical closing period is 30 to 45 days. However, the time spent searching for the right home varies—some find “the one” in a weekend, while others may look for a few months to find the perfect fit.
Q: Do I need a home inspection?
A: Absolutely. A professional inspection is your best protection. It’s a 30- to 60-page report that dives into the “guts” of the house. In Ohio, you generally have the right to negotiate repairs or even walk away if major issues are discovered during this period.
Q: What are “Buyer Closing Costs”?
A: In addition to your down payment, you should budget for roughly 2–4% of the purchase price to cover lender fees, title insurance, and taxes. I provide a “Buyer Estimate” early on so there are no surprises at the closing table.
