Often times, I am asked about the home buying process and what to expect. Today, I would like to give you a quick rundown of what to expect when purchasing your first home:

  • The first thing I advise my clients to do is - know how you will be paying for the home. If you intend to pay cash, have copies of your proof of funds ready to be sent over to prove you have the purchase power if the seller asks.
  • If financing, we need to get you connected with a lender who has a track record of success. The lender will gather your financial information and get back to us with a pre-approval letter stating what type of loan you are approved for and how much you are approved for.

Once we have the financing in order, it is time to start shopping! I know you probably have been scouring the internet looking for all of the latest homes to hit the market and I want to help you with that. Our website https://www.southernmshomesales.com is updated every 15 seconds from our local Multiple Listing Service (MLS) and will keep you updated on all of the homes that meet your criteria. Here is how it works:

  • Register on the site with your best email and a good phone number to reach you.
  • Set your search parameters for the city/price/amenities you are looking for.
  • 'Favorite' the homes you have interest in.
  • Request a tour through the website or call me directly at 228.369.1288.
  • Tour homes until we find the perfect home for your needs.
  • Once we have found the home for you it is time to submit an offer! 

Your offer is in and you are awaiting a response from the seller. If you are anything like me, this will be the hardest part of the whole process for you. (I am so anxious!) The seller has 3 options once your offer has been presented to them.

  • They can accept your offer with no negotiations.
  • They could counter your offer which will begin negotiations between the buyer and seller 
  • They could reject your offer. (We can always submit another offer if you choose to.)

Your offer has been accepted!!!!! What now?

  • The first thing we will want to do is schedule a home inspection. I will provide you the contact information of home inspectors our clients have used with success in the past, but if you have someone in mind, please feel free to use them.
  • The inspector has finished and found some deficiencies in the home. What now?
  • No need to panic. We will begin negotiations to have the seller repair items that were spotted during the home inspection. If the seller is unwilling, we may have to walk away from the deal unless you are willing to live with some of the repairs not being completed or accepting a credit from the seller. 
  • All repairs are complete and we have contacted your lender to let them know it is time to order the appraisal.
  • Your appraisal will come back at value, under value, or at value with conditions. If there are conditions it means that there are some repairs that need to be made prior to the home being valued where the appraiser has valued the property.
  • Your lender may be asking you for additional documents at this time as you are in underwriting.
  • You have submitted all required documents and the house has appraised. We are CLEAR TO CLOSE!
  • We will schedule your closing and make this house your home. 
  • If this is your primary residence do not forget to file for your homestead exemption between January 2nd and March 30th. This will give you a tax credit lowering your property taxes substantially. 

Congratulations! You are now a homeowner!!!