Why choose Zivak Realty Group to Buy a Home in Nashville Region?
Procuring a dream home is important and exciting in everyone’s life. It is also important to decide on the right home at the right price.
From basic market research, choosing a lender to get pre-approval for mortgage and paperwork; there are several additional home buying process steps you need to manage and prioritize before you can close the deal on your dream home. Unless you hold the knowledge on the real estate trends for the locality you are interested in, the complete home buying process, and top-notch negotiating skills, you may end up spending more dollars than needed.
Therefore, it is better to approach a licensed realtor with a professional sales expertise in any area including Nashville, so that you can get a better deal in your home buying process.
Below are some of the points you should consider along the way:
Setting a Budget
Before you get into the real estate market to find your dream home, it is important to know how much you can afford. Expenses to consider include the down payment, monthly expenses, property taxes, and homeowners insurance costs. These expenses should be considered even before the home buying process begins as they are typically included in your new monthly payment. Since a person’s credit score determines their interest rate, knowing your score ahead of time can help you decide if now is a good time to buy or not. An individual’s debt-to-income ratio must also fall within acceptable limits of the home’s cost. Once you have determined these things, and if you feel that your budget has enough room to afford a new home, it’s time to begin the home buying process.
Making an Offer
There is an art to making an offer on a home. Generally, most of the seller’s prices their home value slightly higher than the actual market price to gain profit. A buyer has a mindset to put a lower bid (reasonable price), and the seller will counteroffer with a somewhat higher price.
Appliances might also be negotiable if you are willing to up your offer a bit. Your realtor will be watching for signs of problems in the home and will make suggestions to you regarding the offer. So, make sure you follow their advice as they deal with such things on a day to day basis. An experienced realtor will be able to help you negotiate a lower price that sometimes includes concessions or closing costs. Their job is to protect you in the contract.
As a Nashville Real Estate Buyers, when applying for a loan, be sure to get more than one loan quote to get the best interest rate and loan terms for your mortgage. Different banks and mortgage lenders offer different loan origination fees. Also, be sure to check your loan officer’s website for testimonials and other information.
A loan officer who understands your needs and financial state will offer you many online resources and tools. Before you lock in your rate, be sure to check the daily rate with the rate your loan officer gives you to ensure you are getting the lowest rate possible. The interest rates will decide the actual mortgage cost every month and come in fixed or adjustable terms.
Note that the mortgage term may range from 15 years to 30 years of duration. But some loan providers are now offering 40 years mortgage. The longer the repayment term, the lower the payments will be. However, longer loan terms mean interest rates will go on a higher side too.
A home inspection is one of the important aspects when it comes to the Final Steps in Home Buying Process. These inspections ensure that the home’s foundation, ceiling, heating, electrical system, walls, plumbing, and entryways are up to certain standards. The bank may ask for a home inspection, however, they may leave it to the buyer to purchase their own. It is extremely important to protect yourself by getting a pillar to Post home inspection right away. As a Nashville Real Estate Buyers, you have 10 days from the date of the accepted offer for the home inspection. The average home inspection cost may also vary from location to location.
Finding a Better Home
Once you get Pre Approved for a Home Loan and you know what amount your bank has approved for you, We will find a better home, Nashville, TN.
We will recommend you to try our easy home search tool to find the best apartment/home in Nashville, TN. Our advanced search filters allow you to find a range of properties in Nashville in accordance to your specific housing needs. Plus, our map search option allows you to use a polygon tool on the side boundaries on the map around the regions you desire to buy a luxury home, Nashville, TN.
If you already know the address of the property you want, try the Detailed Property Search option OR if you have a listing ID, you can perform Listing Search to search by MLS#. Simply click on the ‘Schedule a Showing’ button and send us an alert.
We will schedule the time and confirm with you once it is set up! Once you have started searching be sure to create a free Property Saver account so you can save your search criteria and get Listing Alerts sent directly to you so you do not miss out on the hottest buys. You can also save your favorite homes to come back and view later.
Escrow and Mortgage Closing Costs
At last, there comes the escrow process which has now become computerized and automated. The escrow process is also known as ‘closing process’ or ‘settlement’. Generally, your real estate agent has authorization for the escrow process which includes the opening of an escrow account and handling real estate transactions. Make sure you acknowledge the Escrow Closing Costs by your escrow agent.