Home Buying Checklist
Buying a home is one of the most important decisions you'll ever make in life. It should be an exciting time in your life, but as with any major decision there is much work to be done. We've prepared this checklist of what's involved to help you get more comfortable with the entire process.
For more information or to get your homebuying process started please give us a call at (510)-733-2191 or contact us.
- Analyze the decision
- Determine what you can afford
- Collect personal information
- Apply for pre-approval
- Search for your new home
- Visit potential homes
- Make the offer
- Arrange financing
- Home inspection
Analyze the decision
- Look at all the expenses involved. These include taxes, homeowners' insurance, any private mortgage insurance (PMI) and utilities.
- If you already own a home, take into account the costs involved with selling your current home.
Determine what you can afford
- Down payment requirements vary with loan types but also consider closing costs.
- Estimate your monthly mortgage payment
- We can help you determine this amount or provide information on the loan options available
Collect personal information
- Carefully check your credit report for any errors.
- Required documents include: Last 2 tax returns, W2 forms, pay stubs, bank statements for all applicants.
- May also need: Statements from any other asset or investment account, proof of any existing real estate owned and contact information on your current mortgage.
Apply for pre-approval
- The pre-approval process helps determine what you can afford and also shows that you mean business. Sellers recognize you are a qualified buyer and your offer should be taken seriously.
- Give us a call at (510)-733-2191 to get started today.
Search for your new home
- Our Agents are able to provide detailed information on any property or area you're interested in.
- You can research homes online and evaluate potential neighborhoods or your Agent can provide you with homes that match your criteria.
- Your Agent will schedule showings of the properties you are interested in so you can see for yourself!
Visit potential homes
- Take as much time as you like when viewing the property.
- When taking into account the asking price of the property, your Agent will provide recent selling prices of other comparable homes in the area to help ensure a smart decision.
- If everything checks out, let's make an offer and here's where that pre-approval letter helps you stand out.
Make the offer
- Your Agent will help determine a competitive offer to make.
- The offer will take into account any and all factors surrounding the property such as the condition and competitiveness of the market.
- While the offer will be binding if accepted, it will include specifications for contingencies should any problems arise to ensure that you have the maximum protection.
- Don't sweat it, we can help secure your mortgage too!
- We will go over all the loan options available to you and help you select the best product for you.
- Your Agent will assist you in scheduling a professional home inspection.
- You are welcome to be present during this inspection and it is a great opportunity to ask any additional questions you may have about the property.
- Your Agent will accompany you to closing to ensure everything runs smoothly.
- All parties will be required to sign the closing documents.
- If you're using funds from your current home sale, make sure it closes before your new home so the funds are available.