3 Reasons To Ask Your Realtor For A Lender ReferralYou are one in a million if you have enough cash to buy a home! For most people getting pre-approved for a home loan is one of the first steps in
Steps To Buying A Home In Vancouver Washington
In this post, I'll be writing about buying a home in Vancouver, Washington, but most of this information applies to buying a home anywhere in Washington or another state, so read on, even if you're not moving to Vancouver!
As with anything you do, choosing the right people to work with is extremely important! So, the first step is finding the right real estate agent. Leah Wright is a Washington real estate agent who represents the buyer's interests, your interests.
Why is that important? Real estate is a business and there are many incentives for making sales; becoming top salesperson, commissions, bonuses and more, so many real estate agents are more focused on getting the sale than on helping you and your family find your dream home. An agent that represents the seller tries to get the best price for the seller and sell the home as fast as possible...
So, choosing a real estate agent that is working for you, the buyer, and consulting with them so they know what your needs are and what your dream home might look like is the first step to buying a home in Vancouver, WA or anywhere. A buyer's agent like Leah Wright becomes part of your team. You are working together to get just the right house for your family.
What Else Do I Need To Know About Buying a Home in Vancouver?
Unless you plan to pay for your new home in cash, your team also includes finding the right lender, one that can pre-approve you for a loan, so you and your buyer's agent know what price-range you are working with. Leah can help you find the right lender!
You and your buyer's agent can use the pre-approved amount as a maximum and make offers based on that amount or even a lower amount as long as it's the right home for you and your family. That's the most important thing; getting the right home and not just a house based on affordability alone.
Now It's Time To Look At Homes That Are Available In Vancouver
When searching for a home online, you don't really get a good feel for what the home is like. You're just searching for the basics; how many bedrooms and bathrooms you need, the size of the house and property, the style of the house and few other things like the age of the house. The online search for a home is a great way to narrow down the prospects a bit.
Now It's Time To Visit Homes For Sale With Your Dedicated Buying Specialist!
This is the fun part. You've done your online search for homes in Vancouver, WA and narrowed it down to homes in your price range and that seem like they might be a good fit for your family. Now it's time to view those homes and any others your agent has found for you.
Your agent can help you a lot during a walk-through of each home. They have a trained eye and know what to look for, including potential problems or benefits you might not otherwise have noticed. They are not home inspectors, but an experienced buyer's agent that has consulted with you, who knows what your needs are and who has viewed a lot of homes, can help you immensely when it comes to choosing the right home for you and your family.
Remember, a buyer's agent like Leah Wright is there to look out for you, not the seller. They are part of your team and more interested in finding you the right home at the right price, not just in making a sale.
We Found Our Dream Home! What's Next?
Now, it's time to sit down with your dedicated buying specialist and write up an offer for your house. This offer includes contingencies such as; financing and time for that to occur, your offer depending on details that come from the home inspection, insurance and more.
This is where you also write a check for your escrow deposit so your agent can get the offer presented to the seller with everything in order. Your agent can also help you decide on the best initial offer to make. Buying a house in Vancouver, WA or anywhere else is a process, a negotiation. Your agent has the experience to know what a reasonable offer looks like. They will advise you each step of the way.
The Seller Accepted Our Offer! Yea! What Now?
Again, unless you are buying a home in cash, next comes your mortgage application. It also includes pulling your credit report, verifying your employment, and a very important step, the appraisal of the home you are trying to buy.
Once all of that is done, your mortgage broker puts your application into the underwriting process. This is where the final decision to approve your loan comes in. They may also reject your loan or give you additional requirements to meet in order to get your loan approved.
And it's also why I mentioned above that choosing the right buyer's agent is important. They likely helped you look at homes for sale that were also a good fit for your financial situation as well as your other needs.
My Home Loan Got Approved! Are We Done Yet?
Not quite. Now, it goes to a Title Agent or Closing Attorney to make sure the home has a clean title with no liens or claims against it. They make sure that insurance requirements are met and decide if a survey needs to be done.
Then it's time to get all of the documents assembled for closing day. You bring your down payment, sign all of the documents and finally get the keys to your new dream home!
Now, it's moving day and that's a whole other blog post. For now, if you plan on buying a home in Vancouver, WA or anywhere else in Washington State, Call Leah to get started. I think you'll find her easy to work with and I know she will look out for your best interests every step of the way.
Leah Wright - WA Buyer Specialist
Cell Phone: 360-949-3782
Office Phone: 360-450-4486
Born and raised in "sunny" Washington state, AJ's favorite thing about living in Vancouver is that it is an hour and a half from EVERYTHING (beach, mountains, outlet malls, etc). He also loves that Va....