3 Easy Steps to Buying a Home

Whether you're a first time buyer or practically a seasoned professional, buying a home at the Lake of Ozarks can seem like a daunting process. There are so many different styles of homes to choose from, and so many available homes within each location! How do you ever begin?

If this thought process seems all too familiar, the eXp Realty team is here for you! We've condensed the entire home buying process down into three simple steps to help you prepare for your Lake of the Ozarks home search.

1. Getting Started
To get started, you'll need to accomplish two simple tasks: develop your wish list and get pre-qualified for a loan.
  • Wish List: This is your opportunity for you and your family (whoever will be sharing the home with you) to be completely honest about what you do and do not want in a future home. Have you always dreamed about having skylights in your kitchen? Do you need a shorter commute to work? Now is the time to lay all it all out on the table. Many families choose to make two lists - the "required list" and the "desired list."
  • Pre-Qualification: This is when you work with your chosen lender to determine roughly how much house you'll be able to afford. After asking some basic questions about your income, current debt, etc, your lender will be able to give you an estimate on the size of the loan you'll be able to get.

2. Getting There
Now the fun really begins! This is when you begin touring homes with your REALTOR as you search for your dream home at the Lake of the Ozarks. Be sure to honestly evaluate all aspects of the homes you visit. Do they have enough closet space? Do you like the neighborhood? Give your REALTOR your honest opinion of the houses you tour so he/she can track down more homes that you will like.

After you fall in love with a potential home, you can work with your REALTOR to put together a formal offer. This is where you identify how much money you're willing to offer to the seller and what you want included in the sale (furniture, appliances, etc).

3. Getting The Job Done
Once the sellers accept your offer, it's time to get busy! There are several puzzle pieces that work together to complete the home buying process.
  • Loan Approval: It's time for your lender to get to know you better! He/she will conduct a full investigation of your financial assets and reliability, both past and present, and work continuously on your case until your loan is approved.
  • Home Inspections: As the buyer, it is your responsibility to hire a home inspector to evaluate your potential home. The inspector will thoroughly examine the entire house and present you with a complete evaluation of the working/safety status of every aspect of the home.
  • Final Negotiations: Once you've been approved for your loan and you have received the home inspection, you can make your final offer to the seller. If you want anything repaired before you close, now is the time to specify.

Once the seller accepts your final offer, all that's left to do is close! As soon as everyone signs the closing documents, the home will officially be yours. You and your family can begin moving in and making your new house your home! If you have any more questions about the home buying process, don't hesitate to ask! We are the most qualified real estate team at the Lake, and we will be happy to work with you on anything you need!

NOW is the perfect time to buy a Lake of the Ozarks condo or home. For real estate at Lake of the Ozarks, contact the eXp Realty team. We feature lakefront homes, condos, lake lots, and commercial real estate at Lake of the Ozarks!

2011 REALTOR Salesperson of the Year
Missouri Association of Realtors

752 Bagnell Dam Blvd., Suite A
Lake Ozark, MO 65049

Office | 573.365.1555
Fax | 573.365.1766


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