Steps to Buying a House
Step 1: Search for Homes
If you are thinking of buying a house in Albuquerque, The Bigelow Team’s Website is the best place to begin the Home Buying Process. The Home Search option allows you to have full access to information, photos, vital tours, and satellite imagery all on your phone or desktop. You can search for homes in several unique ways, even by map if you like. It’s the most powerful MLS website serving the Albuquerque area!
Step 2: Call The Bigelow Team
The Bigelow Team has experienced Brokers to help you through the entire process of buying a house. Give them a call to talk about what is it that you are looking for. Our number is: 505.318.1000. They can help you with everything from setting up your home search to questions after a successful Close.
Step 3: Find the Right Lender
To find the right mortgage lender it’s best to shop around. Get recommendations from your friends and family. The Bigelow Team can also help you to select the best lender for your particular needs. Talk to at least one or two mortgage lenders. Ask lots of questions and make sure they have answers that satisfy you. It is also good to check with the Better Business Bureau. Make sure to find someone that you are comfortable with and who makes you feel at ease.
Once you have the right mortgage lender, make sure you get pre-approved. Qualifications are only a guess based on what you tell the lender and are no guarantee, whereas a pre-approval will give you a better idea of how big a loan you qualify for. The lender will actually pull your credit and get more information about you. However, you could even take it one step further by getting an actual approval before you start home shopping. That way, when you're ready to make an offer, it will make the sale go much quicker. Besides, your offer will look more appealing than other buyers since your financing is guaranteed.
Also, do NOT purchase anything on credit, meaning do not give your social security number to anyone during the Home Buying Process. Doing so could have great negative effects on your credit and could prevent you from buying a home. Do not buy furniture, cars, appliances, etc…
Step 4: Look for the Right Home
Make a list of the things you'll need to have in the house. Ask yourself how many bedrooms and bathrooms you'll need and get an idea of how much space you desire. How big do you want the kitchen to be? Do you need lots of closets and cabinet space? Do you need a big yard?
Once you've made a list of your must-have's, don't forget to think about the kind of neighborhood you want, types of schools in the area, the length of your commute to and from work, and the convenience of local shopping. Take into account your safety concerns.
Step 5: Make an Offer on the House
Now that you've found the home you LOVE, you have to make an offer. These days, most sellers price their homes right. Homes are selling very quickly, as you probably already noticed. Therefore, you will need to act fast to win the home. Talk with your Realtor about the best strategy to get you the home of your dreams.
Once you've made your offer, don't think it's final. The seller may make a counter-offer to which you can also counter-offer. But, remember until you and the seller sign that you both agree, someone else can make an offer and buy the home. So, you don't want to go back and forth too much. Once your offer is accepted, The Bigelow Team’s Transaction Coordinator will reach out to you and walk you through the paperwork. Your Realtor will be there the entire time.
Step 6: Close on Your Home
After everything is completed, including financing, we will be ready to meet at the Closing Table. Again, do NOT make any large purchases on credit until you have the keys in your hand. Lenders will pull credit one last time before funding. Typically, you will sign your paperwork one day and receive your keys the next day.
Step 7: Move In!
You've Closed and now it's time to move in! You’re done with the home buying process! Just start unpacking and start enjoying your new home! Buying a home doesn't have to be a hassle if you're prepared and you know what to do, and when to do it. Choosing The Bigelow Team is the key to helping you have a smooth home buying experience!