The Home Buying Process
Let the skilled professionals at Shorewest guide you through the home buying experience.
The journey’s easier with a guide.
Buying a home is usually your largest investment. That’s why you need an experienced partner with the resources and expertise to simplify the home buying journey for you. It’s a relationship built on communication and trust. One that your Shorewest sales associate never takes for granted. Need help finding an agent? Check out our Agents & Offices page to select a Shorewest sales associate. If you're moving to Southeastern Wisconsin contact one of our relocation team members or if you would just like some further information, click here to contact us.
Buyer agency. A decided advantage for buyers.
An emerging concept in real estate today is "Buyer Agency." Here, the real estate professional works exclusively for the buyer, not the seller, representing his best interests at every step—including what’s happening in the marketplace, financing and competing properties. Ask your Shorewest sales associate about the advantages of Buyer Agency.
The steps to home ownership:
Decide how much you can afford.
Before you begin house hunting, see a Wisconsin Mortgage Corporation loan officer for a certified pre-approval. This is a guarantee that you can qualify for financing to a maximum purchase price and loan amount, enabling you to write a strong Offer to Purchase. In a competitive market, it’s often the difference between your offer being accepted rather than another buyer’s. Also, you can close on your new home sooner, easier and with far fewer worries. Certified pre-approval is easy and you can even do it online.
Find your home.
Your Shorewest buyer’s agent will search for homes, both listed and unlisted, that meet your criteria. Then, she’ll schedule appointments that fit your schedule. Your buyer’s agent will offer you valuable advice, complete a free market analysis and work with your best interests in mind. Together, you’ll have access to all available homes on the market, and be confident that the home you choose to purchase is worth the money you pay.
In your search, you might like to take advantage of myShorewest, our Automated Home Finder. Simply sign up to receive access to great personalized features including:
- Saving your favorite search results
- Emailed updates based on your personalized criteria
- and more
Make an Offer.
You’ve found the home that’s right for you. Now it’s time to write an Offer to Purchase. It’s an exciting, emotional and sometimes challenging experience. You’ll be glad you have an experienced sales associate at your side to guide you through negotiations.
Submit earnest money.
When you submit an offer, be prepared to make an earnest money deposit. This sum of money indicates the seriousness of your offer. All money is held in an escrow account by the broker. At closing it is applied to the purchase price.
Apply for a loan.
When you apply for a loan, your lender will give you a good faith estimate of your closing costs and order an appraisal of the property you wish to purchase to confirm it is adequate security for the mortgage. Once the lender has verified the information you’ve given and reviewed your credit history and appraisal, you’ll receive a commitment letter. This document is a promise from the lender to give you a loan. Before you start house hunting, let a Wisconsin Mortgage Corporation loan officer start the process by pre-approving your mortgage. Or apply for a loan online.
Order a home inspection.
To get beyond surface impressions, a professional home inspection is an essential step. Here, a professional inspector will go beyond the "cosmetics" to survey the entire house, including structure, roof, exterior and the major systems (electrical, plumbing, heating, cooling and ventilation). An inspection reveals the need for replacements or repairs before you buy, for fewer surprises and extra peace of mind.
Protect your biggest investment.
Shorewest Insurance Associates can design a customized insurance plan for you by comparing several major insurance carriers. Whether for your home, condo, townhouse or vacation home, you’ll get the most competitive rates with fixed deductibles that fit your needs. And for added convenience, we can arrange for your policy to be delivered at closing.
Let us handle the details.
There’s a lot to deal with before, during and after your move. Your Shorewest sales associate will introduce you to your personal team of Home Services Coordinators (HSC). They’ll help with everything from arranging movers to transferring your utilities. And even years after the move, they can help with maintenance issues and other homeowner concerns.
Purchase a home warranty.
Your home’s major systems and appliances won’t last forever. By securing a home warranty, you’ll protect yourself from unplanned breakdowns in the first year. A home warranty may be included with the purchase. If not, you may want to purchase one prior to your closing. Click here for more information.
Congratulations, it’s closing day.
Your dream of owning a home becomes reality today. And Shorewest’s full service continues right through the closing. Here you’ll settle all the financial details, transfer the title to your new home and receive the keys to your new home. There will be several papers and checks to sign, and you’ll need to remember to bring the following:
- A homeowner’s insurance policy and a receipt showing payment of one year’s premium.
- A certified or cashier’s check for your closing costs. Call your lender a day before closing to find out the exact amount.