Walking into your own home for the very first time will be one of the proudest, most thrilling moments of your life.
But before you can realize the American dream by purchasing Renton real esttate, you should have a firm grasp on the various steps of the process.
Here at RSVP, we want to make sure that first-time home buyers in Renton go into the journey of buying fully educated, confident, and comfortable with each of these ten steps.
1. Make A Realistic List Of Your Priorities
Setting the bar too high for yourself and what you can afford is a common and painful mistake. If you are like most people, you will be limited to how much house you can afford by your budget. Therefore, you need to decide what your deal breakers are and what you will be willing to compromise on.
2. Hire A Renton Real Estate Expert
The odds are that the sellers of your Renton dream home will be represented by an experienced local real estate expert that will be negotiating on their behalf. The last thing you want to do is go to bat against someone that has more experience, knowledge, and leverage than you during those negotiations. Make sure you find your own Renton real estate expert to protect you and work hard for you throughout the process.
3. Get Pre-Approved From The Right Lender
Depending on who you are and your unique circumstances, there is a Renton lender out there that will be better for you than the rest. Don’t go nuts trying to sort through the long list of lenders out there. Simply consult with your Renton real estate broker to get matched with your ideal lender to get pre-approved.
4. Set A Smart Budget
Just because you are pre-approved for a certain amount of money, does not mean that you should shop for a house that is priced at that full amount. You will also need to have money left over for closing costs, moving expenses, etc.. Plus, nobody wants to be house poor! That being said, you need to be smart about setting your budget.
5. Shop For Renton Properties And Make An Offer
Once you know your priorities and what you’re willing to spend comfortably, your Renton real estate broker can start compiling a list of properties for you to tour. Once you fall in love with a property, you can sit down with your broker and submit a strategic offer.
6. Get A Complete Home Inspection
Obtaining a home inspection is not only a very smart thing to do, but it is also required if you are getting a loan from a bank or financial institution. It is always wise to schedule the inspection as soon as possible because there is usually a time limit on when you can have the house inspected and request essential repairs be made by the seller.
7. Have The Property Appraised
It is also important to have the house appraised by a licensed appraiser. The appraiser is apart of a third-party company and is there to give you a completely impartial value of the property. This value is helpful to both you as the buyer, and the lender.
8. Make Requests For Improvements Or Addendums
Once you have had the house fully assessed, you need to sit down with your Renton real estate broker and write a list of the improvements or adjustments that you would like to be made by the seller prior to closing. These negotiations are very delicate and are and valuable step in the transaction. Try not to be overly nit-picky about repairs unless your list is minor.
9. Final Walkthrough
On the day of the closing, you and your Renton real estate broker have the option to walk through the house and make sure that your requests have been fulfilled. If you can’t be there on the day of the closing, simply request that your broker complete the walkthrough for you. You may even request that they FaceTime or video message you so you can see everything for yourself if you can’t be there in person.
10. Close The Sale, Celebrate And Move In
Finally, it is time to close the deal. In most cases, you will attend the closing at the chosen title company where you will sign all of the final paperwork. The person who is handling your closing will explain all of the paperwork you are signing, and you should be sure to ask them questions if you don’t understand anything.
Want To Buy A House In Renton, Washington Or Nearby?
As you can tell, there is a lot that goes into buying a house in Renton.
No need to feel overwhelmed or intimidated though! All you have to do is enlist the help of the right experts to handle the heavy lifting for you.
Click here to get matched with your ideal Renton real estate broker and lender and begin searching for your dream home in Renton.