Getting Started In The Home Buying Process
So, you’re ready to buy a house, but now you realize you have some questions? Wonderful! Let’s keep it simple and go through the 5 W’s of the Home Buying Process:
Who's Going to Help Me?
We highly recommend you work with an experienced, licensed, Real Estate Salesperson who is also a member of the National, Montana, and Gallatin Associations of REALTORS®. That’s right, people like us! We take the real estate profession seriously and we provide real estate resources and expert representation to our buyers from the first property tour, all the way through closing. And, by then we will have gotten a little attached, so don’t be surprised if swing by now and then to make sure you are still loving your new home.
We can also help you connect with industry professionals who can assist with the home buying process – local lenders, home inspectors, contractors, cleaners, and other professionals you may need.
What do I need to do to be successful in a competitive market?
The Bozeman, Belgrade, and Gallatin Valley market is such, that serious buyers need to diligently prepare to step into the market at full speed. Buyers need to be prepared to make the best and strongest offer when they find a home they want to buy:
- Use a Local Lender: Check out a few local lenders and choose the one that can offer the best loan product and terms for you. Even though an online lender may give you pre-qualification, most sellers will prefer to work with local lenders. Yes, it does make a difference!
- Tour New Listings ASAP: Make time in your schedule to tour homes as soon as they are Active in the Multiple Listing Service (MLS). We determine search parameters for our clients and send them relevant homes as soon as they become active. As often as possible, we want to be one of the first parties to visit a home and make an offer.
- Strengthen your Offer: Save up cash for earnest money and a healthy down payment. In a competitive market, sellers will consider cash when comparing multiple offers.
When Should I Make an Offer?
We coach our clients to make an offer as soon as they can, once they are confident the home meets all their needs, at least some of their wants, and offers terms that work for them. We would like our offer to be at the top of the pile if we find ourselves in a multiple offer situation. But, even in a competitive market, we want our buyers to purchase the right home for them and feel confident throughout the process. As soon as you are ready to pull the trigger, we will put our skills to use by writing a strong offer and representing your terms at the negotiation table.
Where Should I Look?
Use the Right Search Tools: Montana is a unique state for many reasons. But one interesting thing is that our state disclosure laws make it difficult for national search engines to give “estimates” on home valuation. So, if you want an accurate understanding of our local market, you should utilize the real estate website and mobile apps we provide. We have a direct link to the Big Sky MLS and you can search right here.
We are the local experts – and we have the right tools for you!
Tour the House and the Neighborhood
Now, once you have the right tools in hand – let us help you find your neighborhood! Whether it’s downtown Bozeman, the west side of town, or maybe you’ve decided to get out into the county for some breathing room – let us show you around!
Many times, we find buyers have to figure out where they DON’T want to live before they can identify the neighborhood that’s perfect for them. We give awesome tours and know where to stop for the best snacks along the way.
Why should I maximize the value of my income and invest in a home, rather than rent?
Well, I guess we just answered our question! Purchasing a home should be something that turns money you might have spent on rent, into a long-term investment. We want to help you walk through that process. And, just as important, we want you to find a place that suits your lifestyle and works with your finances.
Consider an Investment Property
Maybe you have a primary residence already! Bozeman and the Gallatin Valley have a thriving investment property market. Many people put money into vacation homes that double as short-term rentals. We also frequently work with parents who would like to invest money into a condo or townhouse purchase that provides housing for their child and rent from a couple of roommates, while they attend Montana State University. We know where to help you look, so you can maximize your investment.
And One Last thing...
How Much Do I Pay For Your Services?
Not a darn thing! Nothing. Nada. Buyers don’t pay commission or fees for the services of their Real Estate Advisor (except in rare circumstances). The way this works out is that the Home Seller negotiates a commission with their Listing Agent (usually around 6% of the property’s sales price) and the Listing Agent agrees to pay a portion of the commission to a cooperating Buyer’s Agent. It’s the best-case scenario for a buyer. We are fully committed to your satisfaction and seeing the sale through a successful closing, and the Seller pays the commission for the successful sale of their house.
Let's Find Your New Home Today!
If you are ready to talk to someone about the process with absolutely no obligation, you can contact us via email, text, phone, and we’ll get you all of the resources you need.