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Finding a great real estate agent is key to making the home buying process as smooth and successful as possible.
While it is possible to not have an agent represent you when buying a home, it can be risky as the Seller's Agent may not have your best interests in mind. Without a Buyer's Agent, you may also miss out on valuable information and negotiation strategies. Therefore, it is recommended to have a Buyer's Agent to represent you.
When looking for a Buyer's Agent, be sure to consider their experience, knowledge of the local market, communication style, and availability. It's also important to find an agent who is a good fit for your personality and who you feel comfortable working with.
Keep in mind that the cost of a Buyer's Agent is typically paid by the seller, as the agent will receive a commission from the sale of the home. However, it's important to clarify this with your agent before entering into a contract.
Looking for a Buyer's Agent?
Looking to find your dream home in Ohio? Let Kevin and the team at Jose Medina & Associates help! With years of experience and a deep knowledge of the local market, they provide valuable guidance and support throughout the home buying process.
Your ability to make informed decisions when buying a home is closely tied to your understanding of the current real estate market. A knowledgeable Buyer's Agent can help you stay informed on the latest market conditions, and advise you on how to best prepare for each phase of the home buying process based on the type of housing market you are currently in.
When you're ready to begin house hunting, there are a few steps you should take to make the process as smooth as possible.
Learn About the Communities in Stark County and Summit County Ohio
If you’re working with a Buyer’s Agent, when looking at homes, a reputable Buyer's Agent will also be pointing out any concerns they see with the condition of the home and reminding you of what you said was important to you in your home search. This can be incredibly helpful as it can be easy to get swept up in the excitement of seeing a potential new home and overlook some important details. A Buyer's Agent can provide an objective view of the property and help you make an informed decision.
It's also important to keep in mind that finding your perfect home may not happen overnight. It's common to look at multiple properties before finding the right one. Don't feel discouraged if it takes some time, as the goal is to find a home that you will be happy with for years to come.
Another helpful tip when looking at homes is to bring a checklist of your must-have features and deal breakers. This can help you stay organized and focused during your search, and also serve as a reference point when comparing different properties.
By taking these steps and considering all relevant factors, you can be better equipped to find the home that's right for you.
Explore Homes for Sale in Stark County, Summit County and Surrounding Areas
Once you have found the perfect home, it's time to make an offer. Your real estate agent can help you draft an offer that includes the terms of the sale, such as the purchase price, earnest money, type of financing, home inspections, closing date, and possession date. The purchase contract outlines the expectations and obligations of both the buyer and the seller during the home buying process.
When a real estate offer is submitted to a seller, there are three possible outcomes: offer accepted, offer rejected, or counteroffer.
When buying a home, once the purchase agreement is signed, the closing process begins. This process typically involves several steps, including mortgage application, home inspections, home appraisal, and title work.
A mortgage application is a document that a homebuyer completes when applying for a mortgage loan to purchase a property. This application typically includes information about the buyer's income, assets, debts, and credit history, as well as information about the property they wish to purchase. The lender uses this information to determine the buyer's eligibility for a loan and to calculate the final loan amount and interest rate.
There are circumstances where a buyer may not be able to obtain a mortgage even after submitting an application. It's important to work with a lender who thoroughly screens you during the pre-approval process to help identify any potential issues early on. This can save you time and frustration in the long run by helping you avoid applying for loans that you may not be eligible for. By working with a reputable lender and being honest about your financial situation, you can increase your chances of obtaining a mortgage and successfully closing on a home purchase. Learn more about financing a home and finding a reputable lender.
Overall, it's important to maintain a stable financial situation during the mortgage process. Any changes to your income, debt, or credit can affect your eligibility for a loan, so it's best to avoid taking any unnecessary risks until after you have closed on your mortgage.
After you apply for a mortgage and get approved, you might think that the hardest part is over. However, it's essential to be cautious about your actions post-approval, as they can still affect your loan status. To help you navigate this critical time, check out this list of seven things to avoid after applying for a mortgage. These tips will help ensure that your mortgage approval remains intact. Read on to learn more!
Home inspections are an integral aspect of the home buying process as they provide a thorough evaluation of the property's condition. If you’re working with a Buyer’s Agent, they can advise you on the standard home inspections they’d recommend, based on the home you’re buying.
In Ohio, standard home inspections range from $200 to $400 and encompass an overview of the home's structural systems, roofing, electrical systems, plumbing systems, heating, cooling, and ventilation systems, as well as its appliances. Moreover, specialized inspections such as termite, radon, well, and septic inspections may be necessary and can cost between $100 to $500 each. Your real estate agent can provide you with a list of reputable inspectors to research before selecting the one(s) you prefer.
Typically, the buyer covers the costs of these inspections. However, in certain cases, the seller may agree to pay for specific inspections. It is critical to clarify who will bear the expenses in the purchase agreement.
Once the inspections are completed, you will receive a detailed report highlighting the findings. Based on the results, you can opt to proceed with the purchase, request repairs from the seller, or terminate the transaction.
Before finalizing the sale, your lender will require a home appraisal to ensure that the home's value is consistent with the purchase price. The cost of an appraisal is typically included in your closing costs and can range from $300-$500. If the appraisal comes back lower than the agreed purchase price, you can pay the difference, the seller can lower their sale price, you and the seller can negotiate other terms, or the deal can fall through. Your Buyer's Agent will be able to negotiate on your behalf and make recommendations.
The title process involves verifying the legal ownership of the property you are wanting to buy and ensures there are no liens or other issues with the title that could affect your ownership rights or ability to sell the property in the future. The title search and insurance policy are typically paid for by the buyer, and the fees can range from a few hundred to several thousand dollars depending on the purchase price and other factors. It's important to work with a reputable title company and review the title insurance policy carefully to ensure that you're adequately protected in the event of any unforeseen issues with the title. If you’re working with a Buyer’s Agent, they will have recommendations on a reputable title company to use.
As you approach closing day, there are a few important steps to take to ensure a smooth transition. You will need to transfer the utilities into your name, schedule your moving day and arrange for a moving truck if necessary.
You'll also want to schedule a final walkthrough of the home to ensure that all repairs have been completed and the home is in the condition you expected. Your Buyer’s Agent would negotiate this in your offer.
The average time frame to purchase a home in Ohio from the time the offer is accepted until the closing date can vary depending on several factors. Typically, it can take anywhere from 30 to 45 days to close on a home purchase in Ohio, although it's not uncommon for the process to take longer. Factors that can impact the timeline include the complexity of the transaction, any issues that arise during the inspection or appraisal process, and the availability of the parties involved. It's important to work closely with your real estate agent and lender to ensure that you understand the timeline and have everything in order to help move the process along as smoothly as possible.
Kevin and Jose Medina & Associates offers their clients a unique perk that sets them apart from other agents: a free moving truck. That's right, clients of Jose Medina & Associates get to use the truck at no additional cost! This added benefit demonstrates their commitment to helping clients save money wherever possible during the process of buying or selling a home.
They want you to focus on the important aspects of your move, without the added financial burden of renting a moving truck. Contact Kevin now to learn more about their services and how they can help you achieve your real estate goals!
After the closing is complete, you'll receive the keys to your new home and take possession of the property. Congratulations, you're now a homeowner in Ohio!
Closing Date: The closing date is the date when the final paperwork is signed, and the funds are transferred, officially transferring ownership of the property to the buyer.
Possession Date: The possession date is the date when the buyer can take possession of the property, usually immediately after the closing but there are circumstances where this is not the same day.
These dates are agreed upon in the purchase contract, which outlines the terms of the sale and any contingencies that must be met before the sale can close.
In some cases, the closing or possession dates may need to be changed due to unforeseen circumstances or issues that arise during the transaction. In such cases, a follow-up addendum may be added to the purchase contract, outlining the new dates and any other changes to the terms of the sale.
Despite any unexpected twists and turns along the way, the excitement of finally getting the keys to your new home is well worth it!
Looking to find your perfect home, have questions about the home buying or selling process, or want to schedule a free, no-obligation buyer consultation? Kevin McCaulley and Jose Medina & Associates are here to help!
Together they are dedicated to guiding you through the home buying process, from start to finish, whether you're a first-time homebuyer, looking for your next dream home, or relocating to Ohio.
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