When you’re buying a home in the greater Nashville area, there are a lot of things to consider. This article will help you prepare for the home buying process, and understand the factors that influence a successful, rewarding home purchase experience.
The decision to move is a personal one. Here are some questions you should ask before you put your current home on the market.
If you’re comfortable with your answers to all the above questions, you’re ready to move on to the preliminary stages of house hunting.
When you’re ready to buy a new home, it’s important to have a professional, reputable Realtor on your side. A good real estate agent will work side by side with you through every step of the home buying process. They will have access to a great number of homes through the Multiple Listing Service (MLS), as well as an insider’s knowledge of the housing market and fair market values. Your Realtor will assist you with all the paperwork requisite to the home purchase, and put you in touch with area professionals like mortgage brokers, insurance agents, contractors, and home inspectors.
As a buyer, you will never have to pay a Realtor’s commission; a buyer’s agent is paid by the seller at closing. If your Real estate agent asks you to pay a fee to represent you as a buyer, they’re not a professional Realtor!
We of the Cindy Jasper HummerHomes Team have been helping buyers realize their dreams of home ownership for more than 28 years. Call us at (615) 300-4695 to find out what we can do to help you buy your dream home. Or, email us for more information at [email protected].
The process of house hunting is not always easy. But if you go about it in an organized, methodical fashion, the experience will be a lot less stressful. Before you so much as glance at the Nashville MLS, ask yourself these questions:
When you have your parameters firmly established, it’s easier to search for your perfect home. Thorough planning and concrete guidelines help ensure that you don’t get excited over a home that isn’t right for you, or one that’s located in a neighborhood you’re not comfortable in.
Once you’ve narrowed your field of vision, it’s time to research the markets you’ve chosen as possible locations for your new home. Your Realtor can help you review sales activity in your chosen areas and help you determine what areas will offer the most properties in your price range. Hot spots will demonstrate higher sale prices, even in cold markets. Remember that current market conditions will have an impact on how you shop, and what’s available to buy. Also, remember that primary selling seasons are spring and fall: you may find better deals if you shop off-season.
Your house-hunting experience will be a successful and rewarding one, as long as you stay focused on the criteria you laid out in Step 3. That said, you’ll want to look at as many properties as possible as you can to maximize your chances of finding that perfect home.
Here are two possible ways you can locate your perfect home:
Especially in a fast-growing area like Nashville, you’ll find more options than just established single-family homes. Here are some other options you can explore.
Once you’ve found a suitable property, you’ll schedule a showing. Here are some tips.
And above all, don’t buy if you’re not sure!
When you’re ready to make an offer on a home, there are a number of things you should consider.
Finally, you’re ready to write your offer. The offer can be made via a formal business letter or by a purchase contract. Your agent will likely prefer to use a purchase contract. Either way, make sure that you provide all required information, and that you are crystal clear on the terms of the offer. If you’re received a pre-qualification from your mortgage broker, include a copy of the pre-qualification letter with the offer, so that the seller knows you’re prepared for the final sale.
If your offer is not accepted outright, the seller may come back with a counter-offer. To continue the negotiation process, you will have to submit another offer. The amount of the counter-offer will give you a rough idea of how low in price the seller is willing to go. The second offer, and the counter-offers, may be done verbally, with your buyer’s agent acting as your liaison to the seller’s agent: the purchase contract can be formally revised once both parties come to an agreement on the final purchase price.
When you and the seller have come to an agreement on the sale price, it's time to finalize the purchase contract. The purchase contract is a document that specifically details the terms of the property sale and the obligations of both buyer and seller in relation to that sale. Here are some tips to help you make sure that your contract is comprehensive, clear, and problem-free.
The first step is to shop for a mortgage lender. Before you sign on with one lender or broker, make sure to review the types of loan packages they offer to be sure that you're getting the right mortgage. If you have credit issues, look for a lender or mortgage broker who specializes in loans for high-risk or credit-impaired clients.
If you've already secured a pre-approval, you're halfway there. If you have not, make sure to have all of your paperwork ready when you sit down with your mortgage broker. You will need tax returns, proof of income and assets, and any other paperwork pertinent to your ability to pay back the loan in a timely and responsible manner. Also, remember to watch interest rates; when you're pre-qualified, you may be able to lock in a great rate for a specified period of time.
When you've found the property you want to purchase, you'll be ready to begin securing your mortgage. If you've already been pre-qualified, the mortgage approval is contingent only on the proven status of the home you want to buy. Be sure to get a copy of the purchase contract, as well as an applicable inspection reports, assessor's reports, and other pertinent paperwork to your lender or broker as soon as possible to expedite the approval process.
When you're preparing to close on your new home, it's important to stay organized to avoid any mistakes, delays, or unnecessary stress. Here is a list of everything that needs to be done before you close on your home. Most of these items will be done on your behalf by the HummerHomes team:
Once you've closed on your new home, you'll be ready to move in (unless you have a prior agreement with the seller). Here are some tips to help you transition smoothly into your new home.
Cindy has carved a niche in serving high net worth and ultra-high net worth individuals in Brentwood, Franklin, and Nashville. With a deep understanding of these upscale markets, she brings invaluable insights and recommendations tailored to each client's unique needs. Upholding the strictest confidentiality for her clients, she consistently delivers an unparalleled level of service and expertise. As a trusted real estate professional in Brentwood, Franklin, and Nashville, Cindy ensures every transaction is smooth, discreet, and tailored to perfection. Choose Cindy to navigate the luxury property landscape with confidence and finesse.