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Steps to Homeownership

The following are some simple steps and guidelines to get you started on the road to homeownership. The whole process can sometimes be a stressful and confusing time but with the right agent, the right knowledge and backed with the right information, you can close on your Bothell home easy and as stress free as possible.

1. Know your finances.

Check with my first time home buyers page for more for buying for the first time but basically you want to know you have a good financial snapshot before sitting down with a lender. Correct any mistakes on your credit report and get a good idea of how much you can afford and always go a little less. You don't want to move into a new home and not have a penny to spare to repair, fix up or furnish with.

2. Find a good buyers agent

I cannot stress this enough and not just because I would love your business. Having a buyers agent on your side is so vital to the benefit of the buyer I cannot say enough. You need someone on your side throughout the entire process and if a buyer chooses to allow the listing agent to also be the buyers agent, it is hard to be certain who the agent is really working for. Of course the seller came first so the agent really want to sell the property for the seller. But the buyer needs someone looking out for them. It costs NOTHING to buyers to have an agent on your side, protecting your finances, situation and over all legal position in the transaction. Call me today for more information on being your buyers agent.

3. Submit and offer and wait for mutual acceptance.

As your buyers agent, I will put together an offer you are happy with and meets your requirements. I will make sure all the details are taken care of and your best interest is taken into account. Once we submit an offer to the sellers we will wait three days at most for a response. They may counter offer in which case you decide whether to accept or counter offer back. Once all parties agree to all the terms in the purchase and sale agreement, a binding contract has taken place. The earnest money will need to be deposited and you move onto inspection.

4. Get a professional inspection.

Again, I cannot stress this one enough either. This is a huge investment and it really pays to know as much as you can about it. If you are not happy with the outcome, you can receive all your deposit back and move on. Or, you can propose options the seller can take to correct any issues.

5. Get homeowners insurance.

This is important as most buyers will be taking out a loan on the home. The bank will need to know their property is insured. Find a company you trust and make sure escrow has all the paperwork and information.

6. Let everyone do their job.

Bugging the escrow company, lenders and sellers throughout the process only slows it down. Make sure you are available for all signings, and provide and documents requested for an on time closing. Closing doesn't happen when you sign but typically 1-3 days after. Closing means everything has funded and the deed is recorded at the county seat.

If you have any further questions please call me today. I would be happy to explain the process and help you into your own home. I work mainly with Lynnwood homes and Bothell homes but can service the entire North Puget Sound area.