How to Buy a House: A Beginner's Guide

Find out the pre-qualified price range
It is important to find out how much you can borrow before you start looking for a home. Talk with us to assist you in getting a pre-approval .We work closely with mortgage originators , who will be able to help you determine how much you can borrow based on your annual income. In general, Mortgage originators recommend that all home related expenses, including the mortgage payment, insurance premiums and other related items do not exceed 30% of your monthly income

House hunting
After you have been pre-approved for your mortgage loan, it is time to actually start house hunting . We at RockThatch Realty will work closely with you , to match your needs with your affordability . In addition, sellers will take your offer much more seriously if it is accompanied by a pre-approval letter from your bank .

Make an offer
Once you have found a home that meets your needs, it is time to make an offer on the property. You will already know the most you can spend from the pre-approval process, and you probably will have your own ideas on what the property is actually worth. In addition, RockThatch Realty can guide you through the negotiation process and offer procedures. A copy of your pre-approval letter will be presented as part of the written offer. This will ensure the seller that your offer is legitimate.

Negotiation process
If the seller accepts your first offer, congratulations. Your negotiations are over and you're ready to start preparing for your move. More likely, however, is that the seller will come back with a counter-offer. This negotiation process can go on for a short or long amount of time, depending on factors like the motivation of the seller, the local real estate market, and a host of other factors. We will guide you through the negotiation process.

Work to close the mortgage loan
After presenting the Purchase and Sales Agreement, you will need to work with us at RockThatch Realty , to ensure you meet all the conditions required for the closing of the mortgage loan.

Finances
After the Agreement has been signed , and the application has been approved , you are required to pay the deposit and costs into the attorneys trust account .