N o matter the task at hand, things go better when you have a plan. The same is true with buying a home — whether you’re looking to acquire your first house, or an investment property. Here is our Eight Step Plan to help you through the process of purchasing your dream home. You can download a more detailed PDF version here.
Step one: Define your dreams and goals
The process of buying the right house for you begins with understanding your dreams and goals for home ownership. Have fun with this! Asking yourself “what, when, where, why and how” questions, is a great place to start.
Step two: Get pre-approved for a home loan
Securing a pre-approved loan enables you to start shopping for a home with confidence, because you know in advance just how large a loan you can expect to qualify for. Best of all, pre-approval gives you an edge when buying a home because it tells Realtors® and sellers alike that you are a serious homebuyer.
Step three: Shop for your home
Now that you know the type of house and location that best suits your needs, as well how much home you can afford, it’s time to start shopping! Here’s where all of the work you’ve done to define your goals, dreams and preferences will come in handy. Check out our versatile Smart Living search tools for a quick and easy way to get started.
Step four: Prepare and negotiate an offer
Once you have found the right home, we will help you determine an appropriate offer most likely to result in your being able to buy the home at the best price possible. In the offer document you will specify the price you are willing pay, as well as list additional details relating to the purchase You’ll want to carefully review this document and clarify any questions that you may have prior to offering, because once the seller accepts your offer it becomes a binding contract.
Step five: Apply for your loan
Give your loan officer a copy of the fully signed Purchase Agreement and finalize loan terms.
Step six: Inspect the property
Once the offer and loan terms have been finalized, you will choose a home inspector from our list of qualified and experienced home inspectors, and we will help you arrange inspections to ensure your safety and the value of your investment.
Step seven: appraisal and survey of property
If you are getting a mortgage, your lender will make arrangements for the property appraisal, which estimates the market value of the home and helps assure that you (and your lender) are getting good value.
Step eight: Bring it all together at the closing
On the closing day you will sign all documents. The seller will be paid and you will receive the keys once the property exchange has been recorded with Doña Ana County showing you as the new owner. Congratulations! Your goal of owning your own home in Las Cruces has been achieved.
The Smart Living Team is a full service real estate organization and we want to be your trusted partner. We are standing by to help you to make your dream of homeownership a reality!