“It’s the biggest purchase of your life!”
“You shouldn’t rush the process.”
“You don’t need a Realtor in this market.”
Have these questions or similar floating around in your thoughts right now?
They aren’t to be taken lightly but with a dependable and knowledgeable Real Estate Professional, your mind can be set at ease. And yes, hiring a Realtor is such a crucial step in negotiating AND closing a real estate transaction!
First things first, how do you find your Realtor? Much of a Realtor’s business is derived from past customer referrals. These clients had a successful transaction with said Realtor and are willing to tell you to work with them! Ask around for a good referral or do your own research. Many websites now offer Realtor Customer reviews which are all verified and true. Do your Google research for the right agent in your area. But maybe you want to just walk in and get it done! Start the relationship on your time, well you can do this with the Realtor who is on ‘Floor.’ Yes, offices have Realtors available to take calls and appointments that aren’t scheduled or anticipated.
Next, the Realtor will establish your wants and needs for the actual location and house you are looking for. Don’t get too ahead of yourself just yet though because many Realtors will require a pre-approval before starting home showings. This is not because they’re lazy or don’t think you’re worthy of buying a home with them. Pre-approvals will help you to look at the homes for your potential purchase you qualify for!
The Realtor will put you in touch with their preferred lender if you have not yet gotten a pre-approval. It’s such a sad story when a buyer falls in love with a house to only find out they do not qualify. Preparation is key! Get pre-approved then let go shopping!
Your Agent will then start the search for the properties you qualify for and in the location you desire. No buyer will be allowed in a home for a showing with out a licensed professional. This is a big NO-NO. Another reason why it’s important to work with an experienced and professional Realtor. You could find your home the first day out or even in one year. All depends on what you are willing to write an offer on.
Once you find the home you love, write the offer!
Your Realtor will work up an offer to present to the listing agent whom will present to their Sellers. once an offer is bottom lined the mortgage process begins! You will now be in contact with the preferred lender who will get your application all set and your loan processed with the required paperwork and monies for closing. Approximately this process could take 30-60 days depending on the file.
Take a look at our Mortgage Process Timeline for a better understanding of the steps it takes to get to the closing table!
With a prepped and organized file, the mortgage process should ultimately give way for a smooth transaction.