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Ozark Elements Realty
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Salem, MO Area Info
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Home Buying Checklist
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Initial Preparation
Assess Your Financial Situation
Check your credit score.
Calculate your debt-to-income ratio.
Determine your budget and how much you can afford.
Save for a Down Payment and Other Costs
Save for a down payment (typically 20% of the home’s price).
Set aside money for closing costs (2-5% of the purchase price).
Budget for moving expenses and initial repairs or furnishings.
Get Pre-Approved for a Mortgage
Research and compare mortgage lenders.
Gather necessary documents (income, assets, debts).
Get pre-approved for a mortgage to know your borrowing limit.
House Hunting
Identify Your Needs and Wants
List your must-haves (location, size, features).
Consider your wants (nice-to-have features).
Be realistic about what you can afford.
Start Looking at Homes
Browse
online listings
and visit open houses.
Schedule home tours with your real estate agent.
Take notes and photos to compare properties.
Making an Offer
Make a Competitive Offer
Work with your agent to determine a fair offer price.
Include contingencies (financing, inspection).
Be prepared for negotiation.
Submit Your Offer
Complete and sign the offer documents.
Submit the offer to the seller’s agent.
Await the seller’s response.
Negotiate if Necessary
Review any counteroffers with your agent.
Decide on your next steps (accept, counter, or reject).
Closing the Deal
Get a Home Inspection
Hire a licensed home inspector.
Attend the inspection and ask questions.
Review the inspection report.
Secure Financing
Complete the mortgage application process.
Submit any required documents to your lender.
Receive a loan estimate and closing disclosure.
Conduct a Final Walkthrough
Schedule a final walkthrough with your agent.
Ensure all agreed-upon repairs have been made.
Confirm that the property is in the agreed-upon condition.
Close the Deal
Review and sign all closing documents.
Pay closing costs and down payment.
Receive the keys to your new home.
Moving In
Plan Your Move
Schedule movers or rent a moving truck.
Pack your belongings.
Label boxes for easy unpacking.
Set Up Utilities and Services
Transfer or set up new utility accounts.
Set up internet, cable, and other services.
Unpack and Settle In
Unpack and arrange your belongings.
Familiarize yourself with your new neighborhood.
Update your address with important contacts (banks, postal service, etc.).