Step 1

Deciding to Buy

Purchasing a home is probably the biggest financial decision you will ever make. Whether this is your first purchase or you are moving on to a different home that better meets your needs, this decision must be made carefully.

• Why Do You Want To Buy?
  Are you tired of paying rent? Have you outgrown your current home? Would you like a larger yard? Would you rather live in a different area? Do you want to shorten your commute? Having a clear sense of your reasons for buying will help you choose the right home.
• Has Your Income Grown?
  Home ownership can be a very good investment. As you pay down the principal part of your loan, you are building equity over time in addition to any market appreciation on your property.
• Can You Afford To Buy?
  Experts recommend spending between 33-40% of your income on housing. The tax benefits of home ownership can provide a considerable advantage over renting. 

For more information on deciding to buy a home in Baldwin County , contact an agent from Jeff Devalk & Associates .

Step 2

Get Organized

Before you start shopping for that Baldwin County home, it's a good idea to make some preparations

Build your green file

A green file contains all your important financial documents. You'll need it to secure financing for your home. The typical green file should contain:

• Financial statements
• Bank accounts
• Investments
• Credit card
• Auto loans
• Recent pay stubs
• Tax returns for two years

Check your credit rating

Your credit score will have a huge impact on what type of home you can buy, and at what price. Anything above 620 is considered good. A premium interest rate may mean a lower interest rate on your mortgage. Check your credit rating with a credit reporting agency such as :

Equifax (link to http://www.equifax.com ), Experian (link to http://www.experian.com ) or Trans Union (link to http://www.transunion.com ).

Be Careful With Your Finances

Now is not a good time to make sudden career changes or large purchases. You want to approach home buying from a position of financial stability.

For further questions on preparation for buying a home in Baldwin County , contact an agent from Jeff Devalk & Associates.

Step 3

Sell Before you Buy

When to Buy - When to Sell: Unless you have considerable financial resources, it could be risky to put an offer on a new home before your first home sells. In fact, you might lose your chance to buy your new home if you cannot sell your first home in time or if you do not get the sales price you expected. You might even have to make payments on both homes until the first home sells.

Selling a Home Takes Time: It might take longer than you expect to sell your first home. It can take several weeks just to get a home listed for sale. It might take another month or two to find a buyer. Then depending on the lending market and the results of home inspections it might take another month or two for the buyer to close the transaction. Remember: Sellers don't want to wait for you to get your home sold!

Expert Advice Will Help Negotiations: Our job is to get you into the strongest negotiating position possible: As seasoned real estate agents, we handle at least 50 transactions each year. Take advantage of our experience when we share with you that sellers prefer buyers who make a "strong" purchase offer. Sellers will choose qualified buyers who are ready to close the transaction quickly and easily, over buyers who are less prepared. If you are serious about buying, let us help you prepare so you can make the strongest offer possible. Lastly, we will help you structure your offer so you are protected in case things don't go as planned.

Worried Where You Will Live? This is a common concern when juggling a purchase with a sale. We have many ideas to help you! For example, we can negotiate a rent-back period so that you may rent your first home back from the buyer for a month or two while we help you find and buy your new home. Let us help you find the most convenient and affordable solution to minimize the moving impact on your lifestyle.

Real Estate Agents Are Valuable Assets: Agents know the market and can help you prepare your home for sale. We have helpful suggestions so that your home looks its best. We can help you budget for clean-up and any repairs that may help the home sell easily. We can help you decide which inspections should be completed prior to listing your home for sale. We know how to price homes appropriately so that your home will not be overpriced and sit on the market for a while without receiving offers. We also know that you may need us to go the extra mile to keep both your purchase and your sale transactions going smoothly. We have a great track record. No, it's not easy, but we're that good!

Step 4

Choose a Real Estate Agent

Buying a home requires making many important financial decisions, understanding complex issues and completing a lot of paperwork. It helps to have an expert in your corner when undertaking such a large purchase. Our real estate agents can guide you through the process, and they also can get you access to Baldwin County 's home listings before they hit the general market.

• Here are some factors to consider when choosing a local real estate agent:
• Look for a full-time agent who has experience completing transactions similar to yours.
• Interview a few agents: Are they familiar with the Baldwin County area you are interested in?
• Ask how much time the agent will have for you, and if they have a licensed assistant.
• Ask about their credentials and education: A good agent will continually strive to improve and gain knowledge of the latest real estate trends.
• Does the agent return your calls promptly? Time is money when attempting to buy a home.
• Ask for a list of homes they've sold or a list of references.
• Choose an agent who listens attentively to your needs and concerns. Pick an agent with whom you feel comfortable.

Jeff Devalk & Associates agents are among the best in the business. To set up an appointment with an agent, contact us now .

Step 5

Time to Go Shopping

Once you've got those preparations out of the way, it's time to find the home of your dreams.

Take a Drive
Get to know the neighborhoods you are interested in. Drive around and get a feel for what it would be like to live in the area. Start getting a sense of the homes available in those neighborhoods.

Narrow your search
Select a few homes that interest you the most and have your real estate agent make appointments to visit them. Ask your real estate agent about the potential long term re-sale value of the homes you are considering.

Time to Buy
Once you've picked out the house you want to buy, our agents can help you make an offer that the seller will accept. A good agent will investigate the potential costs of maintenance and repairs on the house. An agent can also help you draft your offer in a way that offers you maximum legal protection.

Step 6

Escrow, Inspections and Appraisal

Escrow
Escrow is the process that starts when your purchase offer is accepted by the seller. It ends when you become the new registered owner of the property.

Title Company and Escrow Holder
You will need to select a title company and escrow holder, which acts as a neutral third party holding all instruments necessary to the sale, including funds and deed. The title company will research the complete recorded history of the property, to insure that the title is free and clear of encumbrances by the date of closing and that all new encumbrances are properly added to the title. Some properties are subject to restrictions which limit various activities from building to parking restrictions. There may be recorded easements and encroachments, where others have limited rights to use your property.

How to Hold Title
You may wish to consult with an attorney or tax advisor on the best way to hold title. Different methods of holding title have different legal, estate and tax implications, especially when selling or upon death of the title holder.

Inspections
Once your offer is accepted by the seller, you'll need to have professional inspectors evaluate your home's major systems. Your agent can recommend other inspections, such as roof, chimney/fireplace, property boundary survey, well, septic, pool/spa, arborist or mold.

Appraisal and Lending
Keep in close communication with your lender, who will let you know when additional documents are needed to approve your loan application and fund your loan. The lender will often send an appraiser out to the property and you may pay a fee for this service. Appraisers are specialists in determining the value of properties, based on a combination of square footage measurements, building costs, and recent sales of comparable properties. When you are within two weeks of closing, double check with your lender to be sure the loan will go through smoothly and on time.

For more information on these issues, contact a real estate agent at Jeff Devalk & Associates.

Step 7

Close the Deal

The hard part is behind you, but there are a few more steps before you can move in to your new Baldwin County home

Final Inspection
A few days before you take over the property, we'll do one last inspection to make sure everything is in order.

Utilities and Services
You'll have to change the utilities and services of the house over to your name. Your Baldwin County real estate agent will assist in this process.

Closing Escrow
When your transaction is nearly completed, the title company will provide you with a "closing statement" that details all of the financial details of your home purchase. We will go over this with you to ensure its accuracy. At the last step in the buying process, the title company will have you sign the final documents, including loan documents ("deeds of trust"). When everything is complete, the title company will record the transaction for you at the Baldwin County Assessor's Office, and you will become the official new owner.