The path toward Property or homeownership, can be a long and winding road. By thoroughly understanding each step of the process, Property or Home-buyers can avoid obstacles, eliminate uncertainty, and experience the excitement of finding a house to call home. You can break the property buying process into eight essential steps:
Find the Real Estate Agent
To start your home-buying journey, it’s important to hire a real estate agent. With expertise in the real estate market and process, an agent serves as a trusted source of information to help you make decisions. There are countless brokerages and agents to choose from, so the challenge isn’t just finding an agent, but finding the right agent for you.
If you are buying your house or property with a Loan, I will advise you get pre-qualified for a mortgage. Pre-qualification for a loan provides insight into how much house you can afford.
Search for Homes
After determining your budget, it’s time to begin searching for homes. Be realistic by identifying your wants versus your needs before beginning your search.
Make an Offer
Once you find the property you want, your real estate agent will prepare to make an offer based on the price and terms you choose. Including an offer letter helps distinguish yourself from other candidates. The owner of the properties will take you serious when an offer is submitted for any proper negotiation to commence
Negotiating the price in Buying a Real Estate Property is one of the most crucial aspects of your real estate journey. It’s also the point at which your agent’s expertise can make the most dramatic difference.
Inspecting and Appraisal
Hire a professional property or home inspector officer who will examine the property to identify any damages or fixes that need to be made. Using the inspection report, your agent can negotiate with the seller to get the damages fixed or price compensated in the final sale.
Property Document Verification
Before closing the deal, You need to do a proper document search to verify it legitimacy with the help of a professional like a Lawyer or Real Estate Consultant. Documents like Certificate of Occupancy, Governor's Consent or Other Landed Documents search must be carried out to as far back to 30years ago as required/adviced by Land Registry in Lagos State and Judiciary, and also check if the property is subject to Litigation (In Court).
When closing the deal, you and the seller will sign all necessary documents to finalize the sale and transfer the ownership of the property.
The long-awaited home is officially yours. It’s time to start boxing up all your belongings. To relieve the stress of moving, preparation is key.