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Buyer Tools

If you are looking to buy a home, here is some information that we have compiled to make the process easier. Of course, our team at Neighborhood Realty will work closely with you through every step of the process to ensure that you find the right property to match your needs and to make it as smooth a process as possible.

Steps to Buying a Home

Buying a home is a major undertaking whether it is your first home or whether you have moved several times. No need to feel uneasy as your Neighborhood Realty Realtor is right there with you through every step of the process. An average home buying process consists of the following:

Prequalifying For Financing

Knowing your ability to finance can save you from the heartache you may suffer if you find a home that is not within your budget. On the other hand, purchasing a home within your budget can be the stepping stone to the home of your dreams.

2

Pre-Approval

Your home lender can pre-approve the loan amount that you qualify for and provide you with a letter of commitment. This letter can be an extremely important when negotiating the purchase price of your home.

3

Your Realtor- Neighborhood Realty

Your Neighborhood Realty Realtor can be invaluable in helping you find the right home that meets your specifications and price range in both the Fort Dodge and Webster City markets. With access to any home on the Multiple Listing Services (MLS), Neighborhood Realty 

can show you the perfect home to meet your needs.

4

Shopping For Your Home

Finding the right home that meets your requirements takes time and patience. Neighborhood Realty Realtors are knowledgeable about the homes in the Fort Dodge and Webster City markets and have access to the area MLS which lists the properties available in your market. It is important that you check out the school systems, taxes, cost of utilities and the community services provided by the community your home is located.

5

Purchase Offer

Your Neighborhood Realty Realtor will assist you in preparing the offer and present it to the seller. They

will also explain the importance of a earnest money deposit. At this point the seller will either accept, 

reject or make a counter offer.

6

Contract Signing

When the buyer and the seller have agreed upon a sale price, the sales contract must be signed. Your contract should include:

  1.purchase price,

  2.mortgage contingencies,

  3.type of title conveyed,

  4.date of possession,

  5.list of personal property included in the sale, and

  6.any inspection contingencies such as building, well and pest.

7

Loan Approval

If you have not been pre-approved for a loan, you will have a required amount of time as outlined in the sales contract to shop for a home mortgage. Your Neighborhood Realty Realtor is knowledgeable of lenders in the market and can help answer your basic questions regarding the sale. Local lenders are will be able to answer specific financing and qualification questions and will explain the many different types of mortgages that are available. Your lender will help you select a mortgage that fits your needs.

8

Closing

Your closing agent (typically your lender) will secure the necessary documents required for closing such as the title examination, payoff statements and deed. On the closing day, you will sign all documents. The seller will receive their payment and you will receive the keys to your new home. Congratulations!

*Information compiled from Home Selection Guide distributed by Bankers Media Group, Inc.

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