Buying Steps

Increasing your wealth may be one of the more popular reasons to buy a home. Sometimes purchasing a home is an “accidental investment” because buyers may not always see the big financial picture. Building up equity, tax benefits, & value appreciation are several major financial reasons that are solid pros about buying your home.

Focus on the facts, not the fears:

• A mediocre credit score doesn’t necessarily mean home buying is out of reach.

• Buying your first home is the only way to get closer to buying your dream home!

• Don’t worry about all the complications of the home buying process-that’s what we are here to help with!!

• Just because you don’t have a substantial down payment doesn’t mean you are unable to buy a home.

• Most likely, you can afford a home if you are currently paying rent.

• Now isn’t the right time to buy a home, always. In the short run, make sure you find a good buy, in the long run, make sure you can financially support your purchase.

Typically, a real estate transaction requires over 20 separate individuals, such as – appraisers, bankers, buyer’s agents, escrow officers, inspectors, insurance agents mortgage brokers and underwriters, seller’s agents, title researchers, and a number of others. The actions & decisions they make are required to get a home sale through closing. Your Real Estate Agent is responsible to coordinate all those professionals who become a part of your transaction and to represent you, your interests, & be your advocate throughout the course of your home buying process.

A Buyer’s Agent’s Roles:

1. To coordinate the work of all other individuals who will be a part of the transaction.

2. To educate you about the area’s housing market.

3. To guide you through homes & figure out your home criteria.

4. To help you analyze your needs & wants.

5. To negotiate on your behalf.

6. To schedule deadlines & review and double-check paperwork.

7. To solve any other unexpected issues that arise.

Thinking about purchasing your new home should make you smile & be excited about all the new possibilities of the bright future you and your home will have together but, thinking about a taking on a mortgage may be like a storm cloud looming over your head. Sometimes, buyers are confused or troubled about making such a big financial commitment. Don’t fret, we at The Mike Metzger Team can help you through it.

​

Financing Your Home in Six Steps

1. Choose a loan officer from of the many Banks & Credit Unions here.

2. Fill out a loan application & see if you get approved for a home loan.

3. Determine how much you want to afford to pay monthly & choose a loan option.

4. Submit your home lender a copy of an Accepted Purchase Offer contract.

5. Get the home appraised & obtain a title.

6. Obtain funding at Closing.

You might think that the home search party begins by piling in the car, roaming the town for any realtor sign there is. However, while forming such a search party may be fun the first little while, your enthusiasm & gas gauge will soon fade if the adventure lasts too long. We think the search for your new home should start with you first assessing your needs & wants, both in the short and long run. Dream big because the house of your dreams is out there!

When you are writing an offer you transform your thinking from buyer to businessperson. You need to keep your cool & focus your mindset realistically on the local housing market.

​

There are two basic aspects of an offer, price & terms.

Price- Your realtor will provide you comparisons with other homes on the market to help you gauge a realistic and reasonable offer to submit to the seller. Don’t get pressured to go to high and go out of your budget, or too low and offend the seller into rejecting your offer.

Terms- Factors like financing like requesting closing costs or amount of earnest money, timeline of the schedule of events leading up to closing, included or excluding items, requesting repairs, home warranty & others that are included in the offer.

TIP: Getting Prequalified, reference letters, a down payment, or a letter from you stating why this home is such a great fit & just what you have been searching for, are all fantastic ways to help set you apart from all the other offer paperwork in a seller’s eyes.

Unfortunately, if something doesn’t work or fit quite right with a home, you can’t just return it for you money back or get any in-store credit. Because of this, we recommend you get home owner’s insurance & especially get the property looked over by a home inspector before signing the dotted line at closing. Insurance protects you & your investment if anything damaging pops up out of the blue.

Home owner’s insurance protects you:

• Against lost or damaged property, or damage to the home

• By keeping you from being liable if someone gets injured while on your property

​

You can hire one of the several home inspectors locally we recommend or even have a family member, or friend who knows their way around houses inspect. Inspections are important in case there are any hidden problems behind walls or building shortcomings that need to be fixed to code. In most all cases, nothing major is found but, when a home inspection does find a secret issue, it’s very important to fix it before you become owner of the home.

• “Don’t sweat the small stuff”! Simple fixes and are easy to repair should be over looked. If too many little repairs come in with an offer, the seller could see that as cause to reject.

• If there is a major issue with the home and is revealed by inspection, you should bring in a certified specialist as a second reference & keep them handy for fixing it. If push comes to shove and this issue is one that is too much for you to tackle, you may have to re-embark on the search for a different home.

• The biggest concern of yours is if the inspection finds structural damage.

The final step of your home buying journey is comprised of an appraisal, final check of your credit and finance, title search, & survey. Mike will keep you up-to-date with how everything is progressing and your work is just about complete.

​

Pre-Closing Responsibilities:

1. Keep your finances under control.

2. Promptly return any paperwork or calls from your agent.

3. Communicate with your agent frequently so you’re aware of what it going on.

4. Acquire certified funds for closing.

5. Perform a final walk-through of the home.

6. ​

When you go into closing, you’ll sign documents that:

1. Confirm your mortgage.

2. Make arrangements to record the transaction at either Carbon or Emery County Recording Office.

3. Pay your closing costs.

4. Pay the seller.

5. Transfer the name on the title from the seller’s to yours.

During your home buying journey, you will spend a lot to time with or talking to you agent. Just because the keys & money have traded hands, doesn’t mean that things have to be over! Keep in touch with your agent & they could help with things like:

• Finding contractors or companies to help with home repairs & maintenance.

• Completing your first tax return and a homeowner.

• Helping your family & friends when they want to sell or buy a home.

• Keeping track of your home’s value on the market in case you want to find something new.

​

Be sure to take good care of your new home. Keep on maintenance by:

1. Keeping an eye out: Watch for signs of leaks or damage. Fixing small problems will keep you from having to fix a monstrous problem down the road.

2. Keeping it spick & span: Routine cleaning maintenance on things like your home’s systems. Up keep will depend on their age & style.