Your agent will be personally representing you, and take you through each stage of purchasing a home
Nebraska Realty is a locally owned full service real estate company with over 300 associates to choose from to help you with the home buying process. Whether you are purchasing your first home or a fifth investment property, ready to build your dream home or looking for a no-maintenance condo, our professional REALTORS® can help. In an evermore complex real estate market it is important to have someone there guiding you through the process. Your agent will be personally representing you, and take you through each stage of purchasing a home. A few of the things your REALTOR® will help you with include getting pre-approved for a mortgage, finding and showing you all of the properties that match your criteria, writing of contracts, home inspections, financing, title and escrow, all the way to closing on your home. You will be working closely with your REALTOR® for several weeks or months so it is important that you have a skilled professional you can trust to help make the process go smoothly. Please read about some of the services that Nebraska Realty offers home buyers. Click Here to search for a REALTOR®, or Click Here to contact us and we will have a REALTOR® contact you.
This is the first step in the home buying process. Before you start looking at homes, it is very important that you speak with a reputable lender so you know how much you can comfortably afford, and to get a good understanding of the costs associated with purchasing a home, including down payment, closing costs, and monthly payments. Being pre-approved will help narrow your focus on your home search, strengthen your written offer, and may even increase your negotiating power. Finding the right lender, and specifically a good loan officer is crucial in making your home buying process go smoothly. We recommend that you use a local company, preferably with an in-house underwriting department. While the interest rate is important, don't always just go with the lender that will promise you the best rate. Sometimes this will result in higher up-front fees, poor service, or both. Even if you have already been to a lender, it may be a good idea to get a second opinion. Given the much tighter financing restrictions and changes in regulation, we really cannot emphasize enough the importance of working with a good lender. Ask your REALTOR® for some recommendations of reputable lenders, or click here to view our preferred lending partner.
Your Nebraska Realty REALTOR® will start by asking you some basic questions about what you would like in a home. After learning about your wants and needs, your REALTOR® will get to work finding homes that match your criteria. They will enter your home features into the MLS, and send you a link with an initial list of all the properties that match your criteria. It doesn't matter which company has the home listed, if it is in the MLS, all of these companies are members of the Omaha Area Board of REALTORS® and we all cooperate with each other. After that, you will receive e-mails as soon as new properties come on the market, or when homes that match your criteria have a price reduction. You view detailed property information, and multiple photos when it is convenient for you. Then contact your REALTOR®, tell them which homes you would like to see, and they will create an itinerary, and schedule private tours when it is convenient for you. After you find the home that is right for you, it is time to meet with your REALTOR® to discuss the process of making an offer.
Contracts, disclosures, and negotiations
Once you find the home that is just right for you, your REALTOR® will meet with you to write the purchase agreement. This is a legal and binding contract that spells out all the terms and conditions under which you will purchase the property. Some of the items that are addressed in the contract include purchase price, closing date, inspections, repairs to made, financing contingencies, if seller is paying any closing costs, personal property, and any other terms and conditions that you want or are needed to protect you. Prior to writing the offer, your agent will supply you with any required disclosures for you to view, provide comparable home sale data upon request, collect a copy of your mortgage pre-approval letter, explain the overall process, and answer any questions you may have before you proceed. Purchasing a home is a big commitment so we want to make sure that you have as much information as possible before you make a written offer.
In today's real estate market there are a host of inspections that are available to you. Which inspections you should have performed are a function of the property, and your comfort level. Your REALTOR® will make you aware of the different types of inspections you may choose to have done. Some of these include a whole house inspection, radon, lead, mold, and structural. Your agent can supply information on these types of inspections, and which ones may be right for your situation. At minimum, it is always a good idea to have a whole house inspection, even on a new construction property because for a few hundred dollars, you may avoid having to spend thousands of dollars in the future. Home inspections usually run between $250 - $400, and are paid at the time the inspection is completed. Keep in mind that home inspections are for major defects and health and safety hazards. This language is generally in the home inspection addendum that accompanies the purchase agreement. Most homes are not going to be perfect, especially homes that are not new construction. Be prepared for the home inspector to come up with a list of problems or potential problems, but with the realization that many of the items are normal home maintenance and probably do not fall into the "major defect or health and safety hazard" category. The bottom line is a home inspection is important when purchasing a home, but don't expect the seller to fix every minor thing that the inspector finds wrong.
Contract to Close
Once your offer has been finally accepted by the seller, then comes a series of important steps in order to close on your home. Your REALTOR® will guide you through this process, and act as your liaison. Some of the things that will be occurring during this time are the loan processing, home inspection, negotiation of repairs, appraisal, termite inspection, transferring of utilities, scheduling the closing, final walk-through, review of final figures, and finally closing on your home. Most closings take a minimum of 30 to 45 days primarily due to the time it takes for loan processing. One thing you can do to help ensure a timely closing is provide all documentation to your lender as soon as it is requested. Your REALTOR® will help coordinate these details, and anything else that may need to get done in order to successfully close on time.
Purchasing New Construction
Building a home is a lot more involved process than buying an existing house, which makes it even more important to have a professional that knows the process. Our agents will show you different new construction homes in your price range, help you find a builder that is right for you, help you find the perfect lot, guide you through the contract and negotiation process, make sure the all plans and specs are outlined in the contract so there are no surprises, attend meetings with you and the builder or builder's rep to make sure things are being done correctly, keep the builder on task to ensure a timely closing, provide advice and referrals for construction financing, and act as your representative throughout the process. Building a home is a long and sometimes emotional process, and there are inevitably delays and small problems that arise on just about every home build. Our REALTOR® is not only there to provide professional advice and guidance, but also as a friend to listen and help you with any problems or questions you may have.