The Home Buying Process

Moving is one of the most stressful things you will ever go through. When you purchase a home it's about more than just moving, you have to understand the whole process that leads up to the actual move, and sometimes that process can be just as stressful as the move.  It's important to understand what to expect as you go through the home buying process so that you can be prepared and reduce the stress as much as possible.

Below is a flowchart of the actual home buying process (click it for a larger image):

Of course before we get to the point where this chart starts, we have to find a house and make an offer.  Finding the home of your dreams may be a challenging task but it should also be a fun one that involves your whole family.  I will work to get to know you and your family and understand your needs and desires to help you find that perfect home. Once we have found it I will help you write up an offer and submit that to the sellers and help you work through any negotiations that are needed to help you secure that home and make it your own.  From there the flow chart begins. 

You will see that after your offer is accepted you will need to do a few things, some of which I will take care of for you.
1. Home Inspection. Alabama is a "buyer beware" state so it is up to you to know the condition of the property you are interested in. To help you with this I highly recommend that you get a property inspection from a licensed Home Inspector. The home inspector you choose will thoroughly inspect the house for defects.  If there are any major defects or health & safety issues we will request that the seller repair those prior to closing.  More Info on Home Inspections & Recommended Home Inspectors.

2. Loan Application. You should actually start this process before you even begin looking for a home. By talking with a qualified mortgage professional you can establish exactly how much house you can afford. This will keep  you from being disappointed when you fall in a love with a house only to find out that you don't qualify for enough loan to purchase it.  It's important to get pre-qualified prior to beginning the home buying process.

3. Contact Attorney. It is typically standard that whoever pays for the closing costs chooses the attorney. If you are paying your own closing costs and have an attorney you want to do the closing we will use him or her. If the seller is paying the closing costs they will choose the attorney.  As your agent, I will schedule the closing for you, so that you do not have to deal with this step of the process.

4. Contact Insurance.  Of course you need insurance on your new home. You may already have an insurance company you trust and want to use, or you may need to find one.  You will need to have insurance established on your new property and provide a copy of your proof of insurance to your mortgage company prior to closing.

5. Contact Utilities. Don't forget to call and have your utilities turned on. You will want to make sure to do this at least a week or so before closing. If you currently have utilities in your name in this area you should be able to just transfer them. However, if you are a new customer you will need to go down to the Huntsville Utilities office and establish new service.

6. Closing Escrow.  This is done at a local attorney's office. Expect to spend about an hour and get a hand cramp from signing your name so many times.  For a breakdown on closing costs, click here.

Those are the main things that YOU have to do between finding your new home and the closing.  Once you close on your new home and receive your deed in the mail, don't forget to...

File Your Homestead Exemption! - Not doing so will increase your property taxes (usually double). In some cases if the home you are moving into was previously unoccupied or the previous owner forgot to file for Homestead Exemption, your property taxes will be cut in half when you file.  Of course this only pertains to those who will be living in their properties. If you are purchasing the property as an investment you can't claim Homestead.