Home Buyers Guide Home Buying Made Easy!

Home Buyers Guide Home Buying Made Easy!

Bradford Real Estate is a Real Estate Broker in Nashville TN.
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Bradford Real Estate

BUYING A HOME IS A BIG DECISION

A home is the single most expensive asset that most people will acquire in a lifetime. The more prepared you are at the beginning, the less overwhelming and chaotic the buying process will be. From the initial planning to selecting the home that’s right for you, there are many steps in the process. We are here to assist you with those steps and prepare you for the buying experience.

WHAT DOES A BUYER'S AGENT DO?

A Buyer's Agent is an Affiliate Broker who works directly for the buyer, putting his/her interests first duringthe entire transaction. Typically, the Buyer's Agent is compensated by the seller, so having representation in the transaction is cost effective for the buyer and will help your real estate transaction run much smoother. Sellers are almost always represented by Affiliate Brokers, so it is a wise decision for a buyer to be represented as well to ensure a fair transaction.

Sellers are almost always represented by Affiliate Brokers, so it is a wise decision for a buyer to be represented as well to ensure a fair transaction.

Our Real Estate Professionals will help you through the entire process of buying your home. Here's an overview of what that process will look like:

  1. Lender Selection - If you'll need financing, the first step is getting pre-approved! Our incredible mortgage lenders at Essex Mortgage (https://mortgagenashvilleessex.lpages.co) can help with establishing financing, but you are welcome to choose any lender you'd like. You will be working closely with your lender throughout the process, so make sure that you select someone you feel comfortable asking questions and discussing details. It is crucial for you, as a buyer, to understand what you can qualify for before finding a house that you love. The lender will request such information as paycheck stubs, recent bank statements, W-2’s, and copies of other information. Once the lender has received this information, he/she will be able to pull your credit report and tell you what you can afford to pay for a house.
  2. Create Your Wish List - Creating your wish list and sharing it with your Real Estate Professional will help them figure out exactly what you're looking for in your dream home. Narrow down must-haves such as; location, number of bedrooms/baths, square footage, type of home, etc.
  3. Start Your Home Search - Once you're pre-approved and know your budget as well as your must-haves, beginning your home search will be that much easier. Your Buyer's Agent will help you find potential homes and schedule showings to see them in person.
  4. Make an Offer - Once you've found your dream home, it's time to make an offer! Your Buyer's Agent will help you write up a competitive offer to submit to the sellers specifying things such as the purchase price you're offering, any contingencies such as inspection, appraisal, or financing, and a close date.
  5. Inspections/Appraisal - Once you're offer is accepted, if you've chosen to get your home inspected and appraised, you're Buyer's Agent will assist in setting up these appointments by deadlines specified in your contract.
  6. Negotiate Repairs - If you're inspection report comes back and you want to negotiate repairs to have a few things fixed and paid for by the seller of the home, your Buyer's Agent can assist in negotiating exactly what you want done to your future home.
  7. Close on Your NEW home! - Once you finally make it to closing day, you will sit down with a title company, we highly recommend 615 Title (615title.com), to CLOSE on your new home! On closing day, the property changes possession on paper, although this may not be the day you actually take possession. Sometimes the seller will request a short time frame to move from the property after closing. Especially if they are doing another closing of their own on the same day. They may need to receive the proceeds from the sale of the home before they can purchase a new one and move! Be prepared to take possession a few days after closing, however, keep in mind that closing and moving days may also be negotiated as part of your contract.

PREPARING TO MOVE

You will be responsible for choosing a Homeowner’s Insurance Company to handle your needs for your new home. Once you have selected that company and the Affiliate Broker,please contact your lender with that information, including their telephone number. Also, you will need to start contacting the local utility companies to have the services transferred into your name on the date you are scheduled to take possession. Begin to pack, but please make sure you keep any important forms you would need prior to moving handy – JUST IN CASE!

YOUR BIG MOVE

Important packing tips:

  • Cushion the bottom of sides and boxes first
  • Packed items should not exceed 30 pounds
  • When packing, go room by room
  • Begin your packing as early in the moving process as you can
  • Label all boxes by item and where in your new home they should be placed
  • Pack heavy items in smaller boxes and light items in larger boxes
  • Thoroughly wrap your breakable items in newspaper, paper towels, or clothes placing them in dresser drawers, containers with lids, large cans, etc.
  • Fill your refrigerator and washer/dryer with clothes, linens, and other light objects
  • Tape cords underneath all electrical appliances
  • Don’t tape furniture, doors and drawers, as tape can damage; instead use rope or elastic to secure furniture
  • If you have children, let them feel a part of the process by helping them pack their toys
  • How long until we close?

A standard transaction with a conventional mortgage is roughly 30 days. A cash transaction can close in around 10 days. If financing is FHA or VA, a transaction may take longer than 30 days to complete.

  • What is an EMD?

The Earnest Money Deposit is essentially a security deposit that is due after a contract is accepted. The EMD is generally between 1-3% of the purchase price, but can be any agreed upon amount. The EMD is held in a trust account throughout a transaction and is then rolled into your closing costs. If the transaction isn’t able to be closed the EMD can be disbursed back to the buyer or the seller, depending on the contingency timelines.

  • What inspections do I need?

Your inspection period is agreed upon by the buyer and seller when the initial offer is made. During this period, the buyer is able to perform any inspections they wish. There are general inspections, termite inspections, pest inspection, radon inspection and more specialty inspections if there are specific concerns (ex. Mold, pool, roof). All inspections are optional, but we recommend scheduling any inspections that will provide you peace of mind and help you learn about your new house. If financing with an FHA or VA loan, a home inspection may be required by your lender.

  • What happens if the home doesn't appraise?

If a home doesn’t appraise at the agreed upon sales price, there are a few options: 1. The Seller drops the sales price to the appraised value. 2. The Buyer brings additional cash to cover the gap between the appraised value and the sales price. 3. A combination of options 1 & 2. 4. In rare occurrences, if the appraisal report seems to have missed accurate comparables and has inaccurate information on the subject property, an appraisal can be contested or reordered.

  • What is a closing attorney?

A closing attorney or a title company is needed for several reasons. A Title Company performs a background check on the home to look for any outstanding liens and determine if a property can be transferred. They also issue a Lender's policy and Sellers policy at closing. The Sellers policy insures the buyer if there are any concerns with the home’s title after closing. This cost is generally paid by the seller. In transactions where there is a loan, there is also a requirement to have a Lender's Policy. The Lender's Policy covers the lender and the loan if there are any problems with title after closing. The Lender's Policy is generally paid for by the Buyer, but at times can be negotiated. The Closing Attorney will also walk you through all of the required documents at closing.

  • How much do I need for a down payment?

Your down payment will vary based on the purchase price and financing type. Your lender will be able to help guide you and give you a better idea of what will be expected at closing. We recommend having this conversation with your lender prior to writing an offer on a home.

CLOSING

On closing day, the property changes possession on paper, although this may not be the day you actually take possession. Sometimes the seller will request a short time frame to move from the property after closing. Especially if they are doing another closing of their own on the same day. They may need to receive the proceeds from the sale of the home before they can purchase a new one and move! Be prepared to take possession a few days after closing, however, keep in mind that closing and moving days may also be negotiated as part of your contract.

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    Our Mission

    We are the real estate firm for entrepreneurs. We help Real Estate Professionals create wealth - and use that wealth for good. We believe that "To whom much is given, much is expected."

    Our Vision

    We are Nashville's premier real estate firm. We are generous in our words and actions. Our team consists only of the most excellent and striving Real Estate Professionals, who raise the bar for our firm and for real estate in the greater Nashville area.

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    WHAT PEOPLE ARE SAYING

    Our Real Estate Professionals are knowledgeable and experienced and work hard to tailor fit the customer service experience to meet our clients’ individual needs. We also hold our Real Estate Professionals to very high ethical standards; our clients have come to expect exemplary treatment.

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    "Couldn't have had a better experience!  Very knowledgeable, aggressive team who helped my indecisive self pick a lovely home!  Felts Realty Partners and Bradford Real Estate has been a truly awesome experience! Highly recommended!"

    - Julia Q

     

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    "Couldn't have had a better experience!  Very knowledgeable, aggressive team who helped my indecisive self pick a lovely home!  Felts Realty Partners and Bradford Real Estate has been a truly awesome experience! Highly recommended!"

    - Stephanie F.

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     "The whole Bradford team made our first time home buying the easiest process. Efficient, caring, and incredibly resourceful. We love our new home and appreciate you all!!!"

    - Ethan R.

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    Buy a Home in Nashville TN | Bradford Real Estate

    Your Dream Home Awaits

    Looking for homes for sale in Nashville TN? Bradford Real Estate is a premier real estate firm specializing in residential sales in the greater Nashville area. We pride ourselves on our commitment to our clients, our community, and each other.

    Bradford Real Estate 807 Bradford Ave, Nashville, TN 37204, United States
    Phone Number: (615) 279-5310
    Hours: Monday to Friday, 9:00 AM - 5:00 PM

    Nashville’s iconic landmarks are a testament to the city’s musical past. The Country Music Hall of Fame Museum is home to priceless artifacts, photographs, stage costumes, and instruments used by legendary musicians. Don’t miss the Ryman Auditorium, one of the country’s most popular music venues, and the Grand Ole Opry, the country’s longest-running radio show, with live performances three nights a week. RCA Studio B was the preferred recording studio of artists such as Elvis Presley, Dolly Parton, and the Everly Brothers.

    If you have more energy to spare, enjoy Adventure Park at Nashville, a ropes course and zip lining park, or kayak along the Cumberland River.

    Driving Directions to Nashville, TN from Nashville International Airport:
    Continue to I-40 W
    6 min (2.2 mi)
    Continue on I-40 W to Wedgewood Ave. Take exit 81 from I-65 S
    7 min (6.6 mi)
    Take 8th Ave S to Bradford Ave
    2 min (0.6 mi)

    Reviews:

    Read on and see why we are the trusted resource for homes for sale in Nashville TN.

    Google Reviews

    "Couldn't have had a better experience! Very knowledgeable, aggressive team who helped my indecisive self pick a lovely home! Felts Realty Partners and Bradford Real Estate has been a truly awesome experience! Highly recommended!" - Julia Q.

    "Excellent service, superior professionalism and real estate knowledge." - Shayne A.

    "In the competitive Nashville housing market, Bradford Real Estate made buying our first home a painless process. From our first meeting until closing, the team at Bradford could not have been more professional, prompt, and fun to work with. I enthusiastically recommend them to anyone looking to buy or sell a home in the Middle Tennessee area." - Brad F.

    Facebook Reviews

    "5 Stars" - Lee M.

    "4 Stars" - James K.

    "4 Stars" - Cecilia S.

    You may have found us by searching for some other common Real Estate categories:

    Single Family Homes For Sale Nashville TN

    Cheap Homes For Sale In Nashville, TN

    House For Sale Nashville, TN Under 200K

    Homes For Sale In Nashville TN Under 50000

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    Some other important pages:
    Nashville Real Estate
    Franklin TN Real Estate
    Murfreesboro TN Real Estate
    Spring Hill TN Real Estate
    Brentwood TN Real Estate
    Knoxville TN Real Estate

    Other cities near Nashville TN:
    Dickson, Goodlettsville, Belle Meade, Nolensville, Clarksville, Lebanon, Mount Juliet, Murfreesboro, Gallatin, Franklin

    Zip Codes near Nashville TN:
    37201, 37202, 37203, 37204, 37205, 37206, 37207, 37208, 37209, 37210

    Neighborhoods in Nashville TN:
    Wedgewood-Houston, Nashville / West End, Nashville / Midtown, Nashville / Gulch, Nashville / East Nashville, Nashville / Berry Hill, Nashville / Demonbreun Hill, Nashville / Downtown, Nashville / 8th Avenue S, Nashville / Hillsboro Village, Nashville

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