Buy with Luciano

Home Buying Process

Congratulations on making the decision to purchase a new home! Now, let me help you understand the process of how home buying works.

When purchasing a new home, there are many factors to consider. The following details the Home Buying process that will help to prepare you for when the time comes to beat your competitor to acquire the home you love.

Get A Professional Pre-Approval

Understanding how much you can afford is the first major step to purchasing home. Avoid using online mortgage pre-approval tools as this is just an estimate and a more solid number is needed in order to set a an appropriate budget. Book an appointment with a Mortgage Specialist or private lender. Having the Pre-Approval completed at this point is an advantage for you in multi-offer situations as well, which is often the case today.

Budget

How much can you or are you willing to spend to purchase your new home? Consider your savings, earnings, current expenses, future home expenses (such as property tax, home insurance, furniture and appliances, etc.).
Consider your down payment amount. It is recommended that you put down at least 5% of the purchase and still have breathing room in your budget for other expenses you are considering such as furnishing your new home, renovations, or even repairs.
Save approximately 3% of the purchase price for closing costs such as lawyer fees and land transfer tax.
If you are a First-Time Home Buyer, inquire about the incentives available to benefit your finances.

Let the Search Begin!

Let’s talk about your home needs and desires! What are the features that you must have and which ones would you like to have?
Location, location, location! Where do you want to live? Close to amenities, transit or highway access? Do you prefer the quiet surroundings of rural or suburban areas more? If this is not your ‘forever home’, consider a location that will boost your resale value higher in less time.
Based on your criteria, I search for and select suitable homes for you to view by accessing MLS and exclusive listings.
You will be sent the listing via email and I will follow up with a phone call to discuss why it’s worth seeing.
At the viewing, we will discuss the pros and cons of the features of the home.

Offer Time!

This is the exciting part! We found a place you absolutely love and now, we write an Agreement of Purchase and Sale. Remember, the goal is to beat the competition! However, we must also strategize to get you the best value for the property. I have a few tricks up my sleeve to help you do that! We will discuss the appropriate amount to offer, down payment, closing date, and conditions we would want satisfied in order for the offer to become firm and binding, such as home inspection.

Satisfy Your Conditions, if any!

Set up an appointment with a Mortgage Specialist at any financial institution and also consider private lenders. Find what best suits your mortgage needs and your lifestyle. Your lender will more than likely send an Appraiser to the home as well.
Are you getting an inspection completed? Be sure to schedule your appointment as soon as possible. Remember, there is a deadline and it must be met if you want to firm up the deal!
Once your conditions are satisfied and the deal is firm, we will work on preparing you for your moving day. Do you require moving services? No problem, I have you covered! I will also send you detailed guidelines to help relieve any stress and make the transition as smooth as possible.

Closing Day! Move in!

Congratulations! You made it! Now, move in, consider some new decor and/or renovations to make this place really feel like you’re home!

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