So you have decided to look for a new home in Louisville or Bullitt County. GREAT! There are plenty of homes available and I’m sure that we can work together to find one that meets your needs and wants.

The rest of this page is dedicated to providing you with information to make purchasing your Louisville or Bullitt County home easier. If you do not know or do not remember exactly how the process works, the process is outlined below. Additional links are provided that contain more detailed information about Real Estate, Louisville, Bullitt County, and the home buying process.

Seven Steps to Buying a Home

1) Pre-Approval

2) Defining your Goals

3) Finding a Louisville – Bullitt County Realtor

4) The Hunt – aka Finding a Property

5) Making an Offer

6) Negotiating the Contract

7) The Closing

1) Pre-Approval

Getting pre-approved for a loan is a critical first step on the path to purchasing a new home. You need to understand how much you can afford both at the time of purchase and as an ongoing payment. Additionally, sellers want to know that you are serious about buying their home. Seeing a pre-approval letter with the offer, gives them confidence that accepting your offer is the right thing to do.

What do I need?

a)     Tax returns and W2s from the last 2 years,

b)     Bank statements from the last 2 months, and

c)      Pay stubs from the last 2 pay periods.

d)     Account numbers and approximate balances of any assets and liabilities that you have.

What do I get?

a)      A Good Faith Estimate – details fees and expenses that you can expect to secure the loan

b)     A Pre-Approval Letter – states that you are approved for a loan up to a certain dollar amount.

How long does it take?

Anywhere from 1-2 hours to 1-2 days depending on the lender and your specific set of circumstances.

2) Defining your Goals

You will not know that you have found your ideal home unless you know what you need and want. Create a list of features that you want in your home and then rank them in order of importance. Finally, draw a line beneath the lowest one that you absolutely must have. For Example,

3 Bedrooms

2 Full baths

Basement (Finished or Unfinished)

1600 sqft above ground

2-car garage

Fireplace

Jacuzzi tub in the Master bath

A fourth bedroom

Granite countertops

Appliances Remain

1800 sq ft

This list will help you and your Bullitt County REALTOR® find the best possible home for you. Keep in mind that this list is not set in stone, your needs and wants (especially the wants) may vary as you start to look at houses. However, this will serve as a good reference point as the journey continues.

3) Finding a REALTOR®

Once you have your Pre-Approval Letter and your list of Needs and Wants, the next step should be finding a Bullitt County REALTOR® As a buyer, the services of a real estate agent are typically FREE. A real estate agent will help you find a home, prepare the contract, negotiate if necessary, and insure that all activities are completed so that you can close on time. Did I mention that you do not have to pay for these services?

4) The Hunt

Searching for properties is the most interesting part of the home-buying adventure. As you tour homes, you will learn a lot about homes, features, neighborhoods, and probably a little about yourself. The List may have to be revised. But, each house that you see will bring you closer to finding the one that you need and want. While you are searching, bring a notebook and a camera. Take notes so that you can remember what you like and dislike about each property. Rank each one as you go. Along the way, ask yourself, “would I be upset if this house were not available tomorrow?” If you answer, “YES”, it is time to take the next step.

5) Making an Offer

Once you have found a home that you want, it is time to write a purchase contract.  In addition to the price you are willing to pay, the contract should include how much money you are putting down as a good faith deposit, how you plan to get financing (this is where the pre-qualification letter comes into play), what inspections you want, how long you need to get them, as well as many other details of the transaction. Your Louisville - Bullitt County real estate agent will make sure that the offer is complete and correct. You should make sure that you understand every section, as this is a legally binding document.

6) Negotiating the Contract

Your offer to buy the home will not always be accepted as is. Often, the home seller will disagree with one or more of the terms and make a counter proposal. When this happens, you have the right to accept their terms or reject them and make a new offer. The goal of successful negotiations is make both parties feel as though they have a fair deal. Since each person places different values on the various parts of the contract, it may take a couple passes to make sure everyone is satisfied.

Coming Soon….