Home Buying Tips from Keller Williams
In our experience, a house is not a dream home because of its size or color. Its about how you feel when you walk through the front door - the way you can instantly see your life unfolding there. This about more than real estate. It's about your life and your dreams.
Location, location, location. You must’ve heard that before. But that’s because, much of the time, that’s what real estate is all about. And never is it more true than when you’re buying a home. As a certified Real Estate Agent, I have the local knowledge, skills and experience to help you through the buying process. From property hunting and price negotiations to mortgage offers and legal paperwork, I’ll help you meet your goals, whatever they may be. Your dream home is waiting and I can’t wait to help you find it.
5 Get a Home Warranty
Some home sellers pay for a home warranty that covers them while their home is on the market and conveys to the buyers after the sale. You can ask your real estate agent for advice about negotiating for the sellers to pay for a warranty or buying one yourself.
What is a home warranty?
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A home warranty policy, which typically lasts for one year and is renewable, provides coverage for some of your home’s systems and appliances. In return for the annual fee, the company will cover repair costs and arrange for contractors. You’ll pay a deductible fee and possibly service fees if you need to use the warranty.
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Do I need a home warranty?
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If you’re buying an existing home, especially one with appliances that are more than four years old, a home warranty can give you peace of mind about paying for unexpected repairs and finding a reliable contractor. If you’re a first-time buyer, especially if you have limited savings, this can be particularly important. If you have plenty of emergency savings, you’re handy or know good contractors, you may not need a warranty. Your real estate agent can also be a good source of recommendations for contractors. If you’re buying a newly built home, structural defects are usually under warranty by the builder for 10 years and other items are typically covered for six months to two years, so you don’t usually need a home warranty.
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What should I look for in a home warranty?
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To choose a good home warranty, you and your Keller Williams agent should review:
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The home warranty company’s license with your state’s real estate commission
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The fine print – that’s where you’ll find exclusions and limitations
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What’s covered and what’s not
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The coverage limits – your repairs will only be paid for up to a specific level
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Service fees and deductibles
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How quickly service and claims are handled
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How contractors are vetted and what happens if you use your own
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Coverage differences between a basic warranty and enhanced warranty
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Online reviews
You can always ask your real estate agent for home warranty recommendations and advice.
6 Close
While you may feel jittery before your closing, your KW agent and lender should have you fully prepared for the day. As the buyer, you choose the title company for your title search and the closing. Your agent and lender can recommend reliable title companies.
What should I do before the closing?
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As your closing nears, you should:
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Stay in close touch with your Keller Williams agent, lender and title company.
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Avoid lowering your credit score with a new credit application or late payments.
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Confirm that your contract contingencies are resolved, including the home inspection, an appraisal and your financing.
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Finalize your homeowner’s insurance policy.
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Gather your down payment and closing cost funds in an accessible account.
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Review your Closing Disclosure form, which you’ll receive three days before your settlement, and ask questions if you don’t understand something.
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Arrange a wire transfer or get a cashier’s check for the funds you need for the settlement.
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Schedule a walk-through of your new home within 24 hours before your closing to check its condition.
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What can I expect at the closing?
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In a word: Paperwork! Allot a few hours for your closing. Bring to the closing:
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A government-issued photo ID
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Proof of homeowner’s insurance
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Your copy of the contract
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All paperwork associated with your loan and the home purchase
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Your cashier’s check or wire transfer confirmation
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Your checkbook for miscellaneous funds that weren’t included on your closing estimate
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What paperwork is required to close?
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You’ll be signing numerous documents, including a repeat of the documents you signed when you applied for your loan. The most important documents you’ll sign are:
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Promissory Note to repay the mortgage
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Deed of Trust, which gives the lender the right to foreclose if you don’t repay the loan
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What’s covered and what’s not
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Initial Escrow Disclosure, which outlines the funds on deposit for your property taxes and homeowner’s insurance bills
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Right to Cancel form, which states that you have three business days to cancel the transaction
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What’s next?
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After your closing:
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Keep all your signed documents in a safe place.
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Avoid lowering your credit score with a new credit application or late payments.
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Change your address.
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Change the locks and security codes on your home
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Review your due dates and new budget.
Congratulations! You’ve got the keys to your new home! Stay in touch with your Keller Williams agent for future recommendations and service.