Buying a Boise Home
With The HELP Program, buying a Boise home has never been easier! Right now is the time to buy Boise real estate, there is a large inventory of Boise homes to choose from, and prices have never been better!
In this market you need experienced Boise real estate agents that understand today’s local market. The HELP Program has a team of “In House” Boise real estate professionals to handle every aspect involved in finding you the perfect Boise home, getting the sale closed, and you moved in!
Regardless of the slowdowns in the Boise housing market, housing remains a good long-term investment. Buying smart is an investment in your future and long-term value. Just a few immediate benefits of owning Boise real estate is that your money is invested in your future instead of being thrown away in rent, you will have tax deductions that you don’t have with renting, and you have control over you monthly payments as opposed to being at the whim of a landlord.
Buying a home in not the same process in all states, and changes over time as well. Knowing what you will go through may make the experience more comfortable and may save you from making some costly mistakes.
How We Can HELP
- HELP You find the right home
- HELP you shop for the best Mortgage
- Initiate and close the sale
- Provide Financial Analysis
- Assess your credit situation
- HELP you amass $6000 in savings (for closing costs and reserves)
- Manage a one year lease to own contract
Century 21 Eagle Rock and The HELP Program offer a free presentation… to explain the key issues to consider before purchasing a home. The presentation will be customized based on your:
In this meeting we will also:
- Explain the four criteria lenders will consider before approving you for a loan
- Analyze your credit report and, if necessary, a plan for restoring your credit
- Identify the home price for which you can qualify
- Show you homes that meet your criteria
- Create a budget and expense tracking system you can use to reduce debt and save for a down payment
- Identify loan opportunities and down payment options
- Outline a rent-to-own strategy if you cannot qualify for a loan
We will introduce you to a member of our lender team who will get pre-qualified for a loan so you know which price range of homes to shop for.
Based on our initial consultation and your pre-qualification, I will take you to look at homes.
When we find the right home, we will make an offer using the standard Purchase and Sale Agreement used by licensed Realtors in the State of Idaho. Depending on your situation, this offer will be either for a traditional purchase or a purchase on a rent-to-own contract.
Earnest money amount
Although the amount varies based on the price of the home and the specific deal, the amount usually ranges from $500 to a few thousand. A check for the earnest money will need to be received by the agent writing the offer at the time you sign it.
The earnest money (depending on how it is written in the contract) will remain in the brokerage office until the offer is accepted, then it will be deposited in a trust account. The Earnest money will apply to your amount at closing. Consider the earnest money like a deposit.
When do you want to own the house?
Usually, lenders ask for 30 days minimum for the loan.
Are you pre-qualified? How much will you need to put down? What are the terms of the loan. (I rarely—if ever—recommend anything but a fixed interest rate. Although there is a place for adjustable rate mortgages, I’ve only had one time in hundreds of transactions that an adjustable rate mortgage was a good idea.
What terms do you want in the offer:
1. Seller paid concessions
2. Items included with the sale of the home
3. Closing costs, contingencies
The sellers now have 3 options:
They will accept, reject or send a counter offer to your offer.
Discuss with your agent if you want to resubmit an offer on the property or move on to a different property. Make sure you know the reason for the rejection (price, contingencies)
That means that they accept your offer if you are willing to change a few things. You can then decide to:
1. Accept their counter
2. Reject it
3. Send them another counter offer
You can go back and forth with the sellers as long as you want until you reach an agreement or one party decides to reject.
Great, now a whole new set of deadlines are in place! You are one step closer to owning the property!