Buying a Home
How long does the process usually take to buy a home, and what should I expect? It usually takes about 30 days from the signing of the purchase contract to closing; however, depending on the loan product you choose, it could be up to 60 days.
On average, most homes can be put under contract and closed on within a 30 day timespan-- but, this is just an average. The time duration can vary due to the chosen loan products or current workload of the bank, title company, and appraiser at the time your future home goes under contract. Certain loan products, like Rural Development loans, may take longer than the normal 30 day time-period. It is always best to discuss, with your JCS Agent and Lender, the pros and cons of selecting a more non-traditional loan product prior to making an offer on a home. Of course, in the event there is no need for a mortgage, a home can be purchased much quicker than the traditional 30 days.Permalink for this answer
What does it mean to be pre-approved, and why should I be pre-approved before I start looking at homes to buy? Pre-approval is a free service from most Residential Lenders that provide certainty regarding which homes are or are not in your budget.
Pre-approval is the process of applying for a loan without having to pay any money. It helps potential home-buyers see what loan products are available to fit their needs, determine their maximum budget, and make sure monthly mortgage payments fit within their budget. Most importantly, it ensures that buyers meet the Lending stipulations set out in the future Purchase Contract and close on their new home in timely manner. The best part of Pre-Approval? It's free!Permalink for this answer
What is a home inspection, and why should I have one done on a home I am purchasing? A home inspection is an assessment normally paid for by the Buyer of a home for defects, potential maintenance items, and poor construction. It can be invaluable to a Buyer in ensuring you are making a good investment in a quality home.
A home is the most expensive item most of us will ever buy, and most, if not all, home inspections will cost less than 0.5% of the Purchase price. Having peace of mind knowing your investment is sound is more than worth it. Putting a home under contract is just the beginning when you're a Buyer. In most cases, the purchase agreement will specify a duration of time in which the Buyer can hire a Home Inspector to inspect the home. A Home Inspector is a licensed professional who specializes in analyzing the current condition of the property for any defects, potential maintenance items, and/or sub-standard contruction practices which he/she will then list in a report for the home buyer.Permalink for this answer
Why should I hire JCS Realty to be my guide when buying a home, and what does Buyer Representation cost? Letting JCS Realty guide you during your home-buying process means you have a trusted adviser every step of the way. Best of all, Buyer Representation is 100% free of charge at JCS Realty.
Purchasing a home is a monumental task not meant for the faint of heart. Letting JCS Realty guide you home ensures you have a trusted advisor through every step of the home-buying process. We'll help you sift through the ocean of listings to find homes that compliment your personal lifestyle, satisfy your school district preferences, and will grow along with your family. We'll help you navigate the muddy waters of negotiation, and provide insight and recommendations during the inspection process. And in the end, we'll be there to make sure no "i" goes undotted and no "t" goes uncrossed. After signing on the dotted line, you'll be more than a homeowner, you'll be part of our family!
So, what's this going to cost, you ask? Unfortunately, most buyers don't realize that 99% of the time the Seller of the home pays the sales commissions for both the Seller's and Buyer's agents at closing time. So, what does it cost to let JCS Realty guide you home? Absolutely nothing!Permalink for this answer