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    How to Buy A Home

    Your Steps to Buying a Home

    The experience of buying a home, whether it’s your first or your fifth can be both exciting and exhausting. The first step is to choose and stay with the right team. Buying your home is more than a business transaction, we know, it’s personal. Our team has an exclusive concierge service that is committed to our one-on-one relationships reducing time, energy, and making your home buying experience a pleasant and exciting one. 

    We look forward to working with you!

    1. Find an Agent or Team:

    • Look for a licensed agent or team that is knowledgeable, experienced, and familiar with the neighborhoods you’re considering and can help guide your search

    2. Get Pre-Qualified 

    • Before beginning your search, the first step is to get pre-approved for a mortgage loan (unless you will be paying in cash for the full price of your home). The Faifman Group can connect you with a mortgage broker. Based on your income and credit history, the mortgage broker will determine how much the bank will lend you which will help determine the price range for your search. 

    3. Visit Properties 

    • Attend viewings and open houses spanning a range of ideal homes location and amenities.

    4. Make An Offer

    • Once you’ve found a home that you love, The Faifman Group can assist you with writing your offer. The listing price is only a starting point. At the Faifman Group, we can help you understand the current market and guide you to make the most attractive offer. Once you’ve submitted the offer, you play the waiting game. You may receive a simple yes (congrats!) or a no but a counteroffer to consider.  It can be something of a dance. If you receive a solid “no”, it’s back to step 3, you get a “yes”, it’s time to celebrate!

    5. Home Inspection

    Home Inspection is a big day. Sure, you get to have a home inspector look over the house to ensure there are no defects you want to negotiate to have fixed.

    6. Insurance

    • A home insurance policy can protect your home from many disasters such as fire, theft, and other types of financial losses. Mortgage lenders usually require the first year’s premium to be paid prior to the closing day.

    7. Appraisal 

    • If you’re getting a loan for the home, your lender will arrange for an appraiser to provide an independent estimate of the value of the house you are buying. The appraiser is a member of a third party company and is not directly related to the lender. The appraisal will share with all parties involved whether or not you are paying a fair price for the home.

    8. Final Paper Work

    • As you can imagine, there is a lot of paperwork involved in buying a home. Your lender will arrange for a title company to handle all of the paperwork and make sure that the seller is the rightful owner of the house you are buying.

    9. Final Walk-Through with your agent

    • You’re almost there! It’s important to take a last stroll through your potential new home to make sure it crosses all the checkboxes that you want for your dream home.

    10. Signing Day

    • Once the seller signs their portion of the documents, you will sign and we wait for your lender to fund the loan.

    11. Closing

    • The lender funds and the title company records the change of ownership. You’re officially a homeowner, congratulations!