Home Buyers Start Here
We will lead you through each phase while you’re buying your home. From finding the best house among all the properties available in the Omaha metro area, to providing expert guidance on the closing costs involved.
Here are some questions that buyers will often ask:
How do we determine how much we can afford to pay for a home?
We always advise you to talk with a local lender; Perhaps you have one that you have enjoyed working with in the past. We also have a list of great lenders here in Omaha. The pre approval process is first. You do not want to go out and look at homes without being pre approved. Your lender will also walk through all the closing costs involved in purchasing a home and will determine how much you can afford.
How can I determine my housing needs before I begin the search?
Your home should fit the way you live, with spaces and features that appeal to the entire family. Before you begin looking at homes, make a list of your priorities: location, size, lot, amenities, etc. Establish a set of minimum requirements and a “wish list”. Minimum requirements are things that a house must have for you to consider it, while a “wish list” covers things that you’d like to have but aren’t essential.
What should I look for when walking through a home?
In addition to comparing the home to your minimum requirement & wish lists, consider the following:
- Is there enough room for both the present & the future?
- Are there enough bedrooms and bathrooms?
- Is the house structurally sound?
- Do the mechanical systems and appliances work?
- Is the yard big enough?
- Do you like the floor plan?
- Will your furniture fit in the space?
- Is there enough storage space?
- Does anything need to be repaired or replaced?
- Imagine the home in good and bad weather and in each season. Will you be happy with it year round?
- Take your time and think carefully about each house you see. Ask your real estate agent to point out the pros and cons of each home from a professional standpoint.
What should I look for when walking through a home?
In addition to comparing the home to your minimum requirement & wish lists, consider the following:
- Is there enough room for both the present & the future?
- Are there enough bedrooms and bathrooms?
- Is the house structurally sound?
- Do the mechanical systems and appliances work?
- Is the yard big enough?
- Do you like the floor plan?
- Will your furniture fit in the space?
- Is there enough storage space?
- Does anything need to be repaired or replaced?
- Imagine the home in good and bad weather and in each season. Will you be happy with it year round?
- Take your time and think carefully about each house you see. Ask your real estate agent to point out the pros and cons of each home from a professional standpoint.
How can I keep track of all the homes I see?
If possible, make notes of each house that you view: the outside, the yard, the major rooms, and extra features that you like or ones you see as potential problems. And please don’t hesitate to go back for a second look.
Is a private home inspection worth the money?
It absolutely is! For most people, a home is the largest investment they will ever make and protecting that investment by spending a few hundred dollars is well worth it. An inspector checks the safety of your potential home. Home inspectors focus especially on the structure, construction, and mechanical systems of the house and will provide you with a report of any repairs that need to be take care of, suggestions on how to maintain your home, and most importantly, will provide you with peace of mind. Sellers will allow you to make the sale of the home contingent upon completion of a satisfactory home inspection. In this case, the seller will either make the proper repairs or compensate you for the repairs that need to be made.
Please be aware that the purpose of a home inspection is to point out repairs that can affect the safety and resale value of your home, not cosmetic blemishes. Be sure to choose a home inspector wisely. Be sure to ask questions and find out how many years they have been in the business. Talk to your family and friend to see if they can recommend one to you. We have a list of the best home inspectors here in Omaha.
Do I need to be there for the inspection?
It’s not required, but it is a good idea. Following the inspection, the home inspector will be able to answer questions about the report and any problem areas. This is also a good opportunity to hear an objective opinion about the home you’d like to purchase and it is a good time to ask general maintenance questions.
What should I look out for during the final walk-through?
This will likely be the first opportunity to examine the house without furniture, giving you a clear view of everything. We will be there with you to check any work the seller agreed to do in response to an inspection. If we find that the work has not been done, it will be brought up prior to closing.
What are some tips on negotiation?
As professional realtors, we will negotiate a price that works for you. Keep in mind that in the Omaha area it is a seller’s market; That means that there is not enough inventory on the market for buyers seeking a home. Very often there can be multiple offers on a property; especially a NEW listing that is priced right and shows well. In that case, unfortunately, there isn’t much room for negotiation. Sellers will look at the best offer they receive and respond to it, basically throwing all other offers out. If it is a home that you really like, we stress the importance of putting in a strong offer. However, if the home has been on the market for more than two weeks, we are in a much better position to negotiate with the price and your terms. Remember, that the listing price is what the seller would like to receive but is not necessarily what they will settle for. Before making an offer, we ALWAYS check the recent sales prices of comparable homes in the neighborhood to see how the seller’s asking price stacks up. We NEVER want you to over pay for a home.
Some experts discourage making deliberate low-ball offers. While such an offer can be presented, it can also sour the sale and discourage the seller from negotiating at all.
What makes up closing costs?
Closing costs are usually made up of the following:
- Attorney’s or escrow fees (yours and your lender’s if applicable)
- Property taxes (to cover the tax period to date)
- Interest (paid from date of closing to 30 days before the first monthly payment)
- Loan origination fee (covers lender’s administrative cost)
- Recording fees
- Survey fee
- First premium of mortgage insurance (if applicable)
- Title insurance (yours and lender’s)
- Loan discount points
- First payment to escrow account for future real estate taxes and insurance Paid receipt for homeowner’s insurance policy (and fire and flood insurance if applicable)
- Any documentation preparation fees
