By speaking with a lender about your finances. Most lenders require you to complete a pre-approval application and submit supporting documentation before confirming your affordability.

The buying process all depends on the market and if you are working with an agent. It can be stressful, lengthy and confusing but it can also be seamless, informative and enjoyable if you have someone to help you navigate the unknowns.

Look at recent sales, active sales, and expired sales in your area for the last 6 months and compare your property to the similar properties in terms of criteria. When working with an agent they can prepare a Comparative Market Analysis (CMA) to accurately price your home to similar properties on and off the market while also advertising to other realtors on the MLS.

Working with a real estate agent is the best way to understand what to offer on a house because they can prepare a Comparative Market Analysis (CMA) for that area and educate you on recent sales activity to help you determine the right offer.

Depends on the current market type (buyers, sellers or balanced market) and for how long homes are selling in your particular area.

Depending on your type of financing you may require a home inspection. For loan types that do not require an inspection, it is always recommended that you have one completed. Why? The purpose of a home inspection is to identify minor, moderate and major concerns with the property to either negotiate repairs/credits or continue looking. Some homes are not worth the repairs and are best to cut your losses.

Closing costs are fees collected at the closing of a sale which can include but are not limited to lender/loan fees, title search and insurance fees, property tax adjustments/prorations, HOA and community fees (if applicable), government recording/transfer fees, seller/buyer credits for repairs, inspection fees, lien payoffs, insurance and other misc. charges. Closing cost could be anywhere from 3% -6% of the loan amount.

Real estate agents:

Can educate you on current accurate market data and sale activity that affects the sale of your home.

Can market your property through more channels to include other agents on the Multiple Listing Service (MLS) to bring ready, able and willing buyers. 50% of sales are due to other agents bringing buyers.

Properly advertise your home and vet home buyers through connected channels like referrals, family, friends, past and current clients etc. while also using technology to ensure confirmed appointments with secure software and accompanying buyers through your home. This includes holding open houses and partnering with other real estate professionals to ensure a successful outcome.

Assist you with carefully considering offers made on your home and providing their expertise in negotiating and choosing the right contract for a successful closing.

Real estate agents:

Help you locate and select the right property based on your specific criteria to include, price, location, value, market trends, personal circumstances and more.

Help you locate and select financing with a credible lender to determine your buying power and strategize your offers based on your financial standing.

Expose you to a multitude of both public/private professional resources to include home buyer programs and incentives plus recommended qualified home, land, and utility inspectors for due diligence.

Helps navigate the timeline of purchasing from beginning of contract until closing. They ensure you are protected within loan approval periods, contingency periods and the overall obligations of your contract.

Negotiate the terms of your contract to include offer amount, repairs/credits, occupancy, closing concessions, and all other terms included in your contract for a seamless transaction.