LOCAL RECORDS OFFICE: Let’s face it, buying a home is a tiring and sometimes a scary experience. However, home buying sometimes can be just plain annoying. Here are four common occurrences to be prepared for when buying a home.
For first-timers, buying a home can be an intimidating and terrifying experience, punctuated by moments of uncertainty and utter frustration says, Local Records Office. You might wonder what strange land you’ve wandered into and feel like you’re about to completely lose your mind.
If you know what to expect heading into the home buying process, you can navigate it like a cool-headed pro and keep from being a funny story at the real estate agency’s holiday party.
Local Records Office says, “when buying a home stressful things will happen at many different junctures, and chances are you’ll experience at least some of these possibilities”:
- Dealing With Disorganized Real Estate Agents
You find a great house online and call the listing agent, expecting someone who’s eager to make a big sale to answer the phone and quickly set up an appointment. Much to your disappointment, you get sent to voicemail and are forced to leave a message. A day or two goes by without any sign of life, and you start to grow impatient or perhaps a little angry at the home buying process. Do they not care? Did the house already sell? What is it?
Local Records Office says, “agents deal with many properties at the same time when buying a home”. One will call you back, and when she does, she’ll set up a time to see the house within the next few days. This, too, will be annoying to you. You’ve now waited almost an entire week to see the property — but don’t freak out. You’re on the schedule.
When you finally arrive at the house for your tour, the agent will likely struggle to get the key out of the lockbox. He or she will shuffle through a stack of papers and perhaps make a few phone calls in search of the right combination — and you’ll be standing there, dwelling on the five days you’ve spent arranging this visit.
Don’t lose your cool. He’ll find the combination, he’ll open the door, and you’ll get to take a long-awaited tour of your dream home.
- Going Back and Forth With the Original Deal
Loving the house as you do, you want to make an offer. Your agent will need to gather a lot of paperwork before this can happen — a home buying process that can take a few days. Be sure to remain patient here; this is just the beginning of what will likely be a long, tedious process.
Once you get all of the paperwork together and sign what feels like hundreds of documents, you’ll submit an offer you think the seller just has to accept. You envision the seller jumping for joy when he sees how reasonable it is, and you’re convinced he’ll say “yes” on the spot — but this almost never happens. You might not hear anything for days.
Local Records Office says, “once the seller does respond, you’ll be extremely lucky if he accepts your first offer”. He’ll probably make a counteroffer, and if you’re not crazy about it, you can choose to counter that offer, and he can counter your counteroffer — and so on. Each round of offers when buying a Home requires a fresh batch of signatures and paperwork, and this can stretch on for days or weeks. You’ll want to freak out every time you hear the word “counteroffer,” but don’t; this is a natural part of the home buying process.
- Piles and Piles of Paperwork
If you thought your real estate agent liked paperwork, wait until you meet your lender.
You’ve already been pre-approved for a loan, but now that it’s time to apply for an actual loan for an actual house, you’ll be asked for copies of financial documents you never knew you had. It will seem ridiculous, and you’ll wonder why he didn’t ask for all of it in the first place. Just remember the lender is on your side; he wants you to get this house, so don’t freak out.
If you’re applying for an FHA loan, that can take 30 to 45 days to process from the date of the purchase agreement. It’s a long time, but that’s just how it is when home buying. Don’t let it get to you.
- Wary Home Inspection
Before a lender will approve a loan, he’ll require a home inspection. Inspectors make a living off of finding a multitude of defects, so be prepared for your delightful little dream home to have a termite problem, a leaky roof, mold growing in the basement, or electric wiring that needs repair. Unless it’s a brand-new house, nothing in that inspection report should shock you.
Once the list of issues finds its way into your hands, it’s normal to ask the seller to shoulder the cost of a few of the repairs. This in itself can be a negotiation process when home buying, so be prepared for some back and forth. It’s worth it to have most of the problems fixed before you move in. That way, you can focus on enjoying your new home, rather than focus on finding a plumber to unclog the basement sink.
If the inspection report is especially scary, consider asking the seller to pay for a one-year home warranty. This will end up making any further issues that pop up much, much cheaper to fix.
There will be times during the home buying process that will make you want to give up and live in a van down by the river. But if you keep a cool head throughout the not-so-cool parts of this experience, you’ll have plenty of reason to celebrate. Throw a big party for your family and friends, put that patio to use, and make some new memories.
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