Buying A Home in Bozeman Montana Today

The time has come, time to lay down your claim and start the process of buying a home. This process is purposefully intimidating, and this should not be. Plan in advance set your sight on a goal and you can achieve it, no matter your standing. It's time to not forget the big picture here, no more renting, start building equity (think nest eggs) and let's get started building your future today.

As exciting as it is to be able to own your own small piece of the world, there are many challenges on the path to obtaining homeownership. Becoming a homeowner is the single best opportunity to build equity and wealth in today's free-market society. Let us help you achieve this goal by first going over the basics that most real estate agents tend to gloss over in the chaos. Here we list what is most important to ensure a successful process, and we will cover the major events on the road home.

Buying a Home Today | bozehome + Co. Real Estate

Let's go shopping! – The process officially commences when you've made the decision to purchase a home, and ultimately selecting a professional real estate agent that you can trust. Your best bet would be a highly skilled, financially secure, broker, or realtor with a long proven track record of success; one with more than a few transactions under his/ her belt. If the ink is still wet on their license, you may be taking on unneeded risks. Ask potential agents tough questions, after all, you are about to make the most important financial decision of your life.

1. Local Real Estate Agent selection and agency agreement, team building for success

2. Obtain a pre-qualification letter from a reputable, local lender

3. Home search >>>----->  bozehome + Co. Real Estate

4. Use a local Bozeman Real Estate Website that understands the area, never trust the big box bots?

5. Establish a budget and define the criteria early in the process

6. Schedule property tours, the time to look at properties available and further refine the search

7. Compare properties and market values. Apples to apples, know the market before committing

"Ask your agent the tough questions, after all, you are about to make the most important financial decision of your life."

Let's make an offer — This is where it is time to take action and all the legal documents come into play. At this point, you better have the absolute best agent representation on your side. In today's competitive market a full-time, seasoned agent is the advantage of beating out the competition and securing you the most favorable position in the deal.

1. Buy/sell Agreements- drafting, execution, and presentation

2. Offer Presentation and Negotiation, FYI this is the part we happen to love the most... the negotiation

3. Backup offer (necessary, in some competitive circumstances)

4. Negotiation v. compromise  (what means the most to you)

5. A Fully Executed Buy/sell agreement (legally binding agreement) 

"Now that you have secured you the most favorable position in the deal, it's time to get to work... and the time to make certain that you are not inheriting a total money pit or toxic dump."

Due diligence period  — Apart from holding the keys at closing, this is the most exciting time for all new homebuyers. In a competitive market, this may mean that you just beat out several competitive buyers. The years of saving and building your credit have paid off. This is the moment you have the legal right to buy the property and the time to make certain that you are not inheriting a total money pit or toxic dump.

1. Communicate with your agent and lender, DO NOT BUY A CAR OR OPEN A NEW CREDIT CARD!!!

2. Deposit Earnest money (Typically $1000 - $10,000; deposit within a few days)

3. Due Diligence Plan, let us make certain to cover all the bases here

4. Scheduled Property Inspections (Home inspections start at $500, surveying services begin at $2,000)

5. Insurance, often this is included in the monthly payments to the lender.

6. Title Commitment ensures a clear title to the property and prevents fraud.

"so how about those keys already..."

Closing, and the Keys — Having passed several hurdles, and successfully navigated the sometimes exhaustive process of obtaining bank financing, the end zone is in sight. The last few days of a transaction often go by with little incident, if the proper planning has been done in advance. With increasing governmental and institutional regulations, a few unexpected hiccups can arise. Remember to freely communicate with your agent and lender any items that arise, as they have likely been down this road before. Successful real estate agents and lenders must be master problem solvers, and work well under pressure to succeed.

1. Title commitment, and finalize due diligence and inspection concessions

2. Deed Preparation (attorney stuff)

3. The Final Walk-through, just to ensure nothing has happened during the contract period

4. Closing  >>------> this is the big table with a lot of signatures and time to celebrate!!

"Now that I am a homeowner now what? First, let's plant a few trees and thank yourself later."

The first thing to do is celebrate, invite some friends over for dinner, and relax. This is also the time to build lots of equity, especially if this is your first home. This involves a little bit of sweat, sawdust, and definitely a few trips to the hardware store. Anything that can be done to improve the value of your property, is considered equity.

Remember the dollars you spend today can return you a profit in the future. Plant a tree, or four and thank yourself later. Most of all don't forget what's important. Create something that is 100% you, that encompasses all your life, that is absolutely yours, and that is home.