Buying real estate is likely one of the biggest investments you’ll make. Purchasing a house represents a big decision, and big decisions are often accompanied by stress. However, the process of finding a new home to start your next chapter should also be exciting! That’s where hiring a realtor can help. 

Real estate agents are licensed and accustomed to the complex nature of real estate transactions. If you’re not sure where to start, finding a trustworthy realtor is often the first step in smoothing out the buying process. A good realtor is familiar with bank lenders, appraisers, title agents, lawyers, and other professionals whose services you’ll need to purchase a new property. She can walk you through the process and make sure that no surprises pop up at closing. 

Your realtor can help you determine your criteria for a new house: price range, square footage, number of bedrooms and bathrooms, amenities, location. Discussing these options with a real estate agent can give you a picture of what’s available on the market and how those options fit into your short-term and long-term goals. 

Now, you can let your realtor do some of the research! She can suggest prospective homes and set up tours so that you can see each option firsthand. After each tour, your real estate agent can debrief your reaction to the house so that she can fully understand your needs and preferences. Once you find “the one,” you’ll know it, and you’ll want to move forward quickly!

Now that you’ve found the perfect house, you don’t want to lose it! Your realtor can help you put together an offer on the property. Realtors are uniquely positioned to help you strategize on your offer, taking into account local market conditions and your individual situation. 

Once you’ve put an offer on the table, your realtor’s experience with the paperwork and transaction process should alleviate any stress involved with the purchase! Your real estate agent puts together all the paperwork for you to sign, electronically when possible. If you reach a contract, your realtor will contact your lender to begin the steps to move toward closing.

You’ll need to pay the earnest money specified in the contract within three days; this money remains in escrow until closing, and then it’s refunded to you.The due diligence period begins the day after the contract is effective. During this time period, your realtor will help you check off the requirements for closing. You’ll have the opportunity to research the property and hire a professional for a home inspection. If any deficiencies cause a concern, your realtor will help you negotiate solutions with the seller. If you decide the property isn’t for you, your earnest money will be refunded and your realtor will help you find another home to meet your needs. If you are still committed to the property at the end of the due diligence period, the process will continue. 

The next step is the appraisal, ordered by the lender. Your realtor can guide you through negotiations if the appraisal does not come back at or above the sales price. She can also communication with sellers if the appraisal stipulates that certain repairs need to be made for the appraisal to be released. At the same time, title work will be ordered on the property, and you can shop for homeowner’s insurance. Your lender will complete a credit check and employment verification.

Once the lender issues a clear to close, a team of professionals, including attorneys, title agents, lenders, and realtors, will prepare the forms and documents needed for closing. Your realtor will prepare you for what to expect at closing and make sure there are no surprises at the last minute. Get ready to sign LOTS of papers if you are taking out a mortgage. But when you’re done, you’re a homeowner! It’s time to sit back in your new space and start creating new memories!