Map of the Home Buying Process

Purchasing a home in the St. Louis or St. Charles County area of Missouri, although exciting, can also be challenging. However with the right Realtor(s) and the right information, the process of buying a St. Louis or St. Charles County area home can be easier than you think. We help with everything from financing to home search to home procurement. Below we’ve mapped out the home buying process for you.

 

The Home Buying Process Mapped Out

Pre-Approval
This required process will help determine the price range for your home search, and give you the best position for when you put an offer on a home.

Necessities
Your buyer specialist will discuss with you the features you are looking for including size, style, location, amenities, accessibility to schools and other personal preferences and must-have features.

Home Search
Your buyer specialist will provide you with homes that match your criteria, but you will also have full access to the MLS System through TheBoehmerTeam.com. Register for Property Watch to save your favorite homes, store notes and receive automatic emails of new homes that match your search. Set appointments with your buyer specialist to tour any home that interests you. A qualified buyer specialist will have a variety of resources that are only available to licensed agents and should have access to homes that may not yet be marketed to the public.  They should be actively searching and assisting you with your search for your new home.

Submit an Offer/Negotiations
Negotiations can involve everything from settling on a sales price to concessions and financing. The Boehmer Team agents are trained, expert negotiators whose job it is to represent your interests during the entire real estate transaction.

Purchase & Sale Agreement
Once an offer on a property has been made by a buyer and accepted by the seller, they enter into a legal contract known as a Purchase and Sale Agreement. This document outlines the specific terms and conditions of the transaction and is acknowledged by both parties.

Inspections
Once a buyer and seller reach a mutual agreement on a property, a home inspector is brought in to determine if the home needs any repairs. An inspector will check items, such as the roof, basement, heating system, water heater, air-conditioning system, windows, plumbing, and electrical. Afterwards, buyers may have the opportunity to negotiate with the sellers to cover the costs of certain repairs or to ask for concessions.

Title Insurance/Survey
You will receive a full report detailing the property history for you and your lender to ensure there are no legal discrepancies between a new owner and the property being purchased. If you choose to have a survey performed it would be done at this time.

Final Loan Approval
You should already be pre-approved, but now that you've entered a contract to purchase a home you will be working more in-depth with your lender on your final loan approval. To learn more about this process, pay a visit to our Mortgage Center page on TheBoehmerTeam.com.

Final Walk-Through
Your buyer specialist will accompany you on a walk-through of the property before closing to ensure the home is in as expected condition and any agreed upon repairs have been performed to your satisfaction. This is also the time to double check that all closing details are completed and utility information is prepared for switch over.

Closing
Prior to closing, you'll receive a settlement statement outlining any fees that may apply to you. At closing, all of the paperwork is signed by the buyer and seller - both parties pay any settlement fees and the documents are officially recorded.  After closing is finalized and recorded, the home is yours. Enjoy!

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For our homebuyers, The Boehmer Team has dedicated buyer specialists on our team to assist your every need in the home buying process. Even in a competitive market, we're helping homebuyers make their home ownership dreams a reality. Contact The Boehmer Team to assist you in the home buying process or to request a printable home buying process map.

 

 

The Home Buying Process

Purchasing a home in St. Louis or St. Charles County, Missouri may seem daunting. However, knowing what steps to take and having a great real estate team to assist you makes the process smoother, easier and can even make home buying a good experience. To make things easier we’ve put together a step-by-step guide to the home buying process.

1. Interview an agent.
A great place to start the home buying process is to find a reputable REALTOR or real estate team to assist you with your home purchase. One reason starting here is important is that an experienced REALTOR will be able to help you with all of the other steps in this process. This includes recommending other experienced servicers in the real estate industry such as lenders, inspectors, title companies and more. Not sure how to determine who is a good agent? Check out our article Interview Questions for Real Estate Agents.

2. Find a reputable lender and get pre-approved for a home loan.
Ask your REALTOR which mortgage loan officers that they have the best experiences working with. Also, ask any friends or family who have recently purchased a home about their experiences working with their lender. Then interview each lender about how they work, what their rates are (based on credit score) and any other vetting questions. Finally, choose the best one to meet your needs. This important part of the process can save you thousands of dollars, so be sure to check your options.

3. Determine the must-have features of your next home.
Do you require a 2-car garage, a fenced yard, main-floor laundry to reduce wear and tear on sore knees? Create a must-have list to ensure that none of these items are overlooked during your home search. Not sure what must-have items you need? Try our handy worksheet to help you determine the items you must have in order to purchase a home.

4. Begin your home search.
Now that you are clear on exactly what your next home must have, use these requirements when searching for a home. Most home search portals, like the one at www.TheBoehmerTeam.com, allow you to choose these features when searching online. Be sure to choose your must-have features or you could find yourself looking at homes that aren’t a good fit for your lifestyle. Also, rely on your agent! REALTORS often know of homes that are about to hit the market or that are exempt from the local multiple listing service that will match your needs. This is another great advantage to getting the help of a REALTOR early in the home buying process.

Did you know that our online home search
is better than Zillow? Click here to lean more.

5. View homes for sale in person.
Seeing a home online versus seeing it in person are two completely different things. Ask your REALTOR to make appointments for you to view the homes you are interested in, in-person. NOTE: Don’t just call the number on the sign. The number on the sign in front of a home goes to the listing agent. The listing agent’s job is to look out for the interests of the sellers and make them the most money possible. This is just one reason why it is important to work with a buyer’s agent to represent your interests.

6. Make an offer.
Making an offer on a home can be a complicated decision. What price should you offer? Are there any competing offers that you are up against? This is a great time to lean on an experienced REATLOR. REALTORS are well versed in the legal documents used in home sale transactions. They can help you determine the best strategy for your offer as well as put together the Purchase and Sale Agreement contract. 

7. Get inspections completed.
Once your contract for a home has been accepted, it is time to more thoroughly vet the home for any issues. This is the time to bring in an inspector to take a closer look at the home’s major systems including heating, cooling, plumbing and electrical. Also major parts of the home’s structure will be inspected including the roof and foundation. If an inspector finds signs of insect presence or damage this is the opportunity to bring in termite inspectors. Another inspection you might choose to do in the St. Louis area is a radon inspection as certain parts of the city have been found to have radon.

8. Negotiate for your best possible outcome.
Once you know the results of your inspections you’ll be able to negotiate for any needed repairs based on the findings in the inspection report. This is another great time to rely on an experienced REALTOR who knows which items people ask for and receive most and how to best negotiate for these things.

9. Finalize financing, title and escrow.
Despite pre-approval, there are a few more steps to completing the mortgage loan process. Check out the process here. Homebuyers will also need to review the record of title on the home and find any discrepancies. A good title company will make sure that the title is free and clear of any leans. Finally, the escrow process ensures that all parts of the contract are complete and should be monitored by your REALTOR. 

10. The home closing.
At closing all documents are signed by both the buyers and sellers. Both parties will pay any settlement fees and the documents will be officially recorded. (Don’t worry; any fees will be outlined to you in a settlement statement that you will receive prior to closing.) At the end of closing, you’ll get the keys to your new home!

So who wants to go home shopping? The Boehmer Team offers many tools and all the advice you need to assist with the process. If you are thinking of buying a home in St. Louis or St. Charles County, Missouri, interview The Boehmer Team. You’ll get to know us better, can compare us to other local REALTORS and we can show you in person how we help create positive home buying experiences. Contact us today.