How to Buy a House | 10 Steps to do Once Your Real Estate Contract is Accepted

How to Buy a House | 10 Steps to do Once Your Real Estate Contract is Accepted | Home Buying Process

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How to Buy a House | 10 Steps to do Once Your Real Estate Contract is Accepted | Home Buying Process.
Real estate agent and Realtor Matt Leighton talks about how to buy a house in today's video. Matt goes through 10 steps in the home buying process that you need to do once you go under contract (open escrow).
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How to Buy a House | 10 steps to do Once Your Real Estate Contract is Accepted:
1. 0:40 - Don't celebrate
2. 1:26 - Write out all your contingencies
3. 2:10 - Deposit the Earnest Money Deposit (EMD)
4. 3:02 - Schedule the Home Inspection
5. 4:11 - Get your lender on speed dial
6. 5:08 - Stay in touch
7. 6:00 - Get the estimated cost of closing from the title company
8. 7:17 - Think logically, not emotionally
9. 9:09 - Confirm everything with the lender, title company, and real estate agent
10. 10:29 Schedule your final walk-through for a week before closing.
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Matt Leighton - Arlington VA Real Estate Agent
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• How to Buy a House | 1...

Пікірлер: 99

@TheMattLeighton 6 жыл бұрын

▶▶▶ Get my new book: 46 Condo Buying Mistakes NOW --> www.amazon.com/Matt-Leighton/e/B00RTVS6PY/

@sarahjaney97 4 жыл бұрын

I'm not celebrating yet because I'm too stressed out about all of this 🥴

@TheMattLeighton 4 жыл бұрын

You got this!

@hothotheat3000 4 жыл бұрын

Celebrate when the keys are in your hand. You’re in the race, but you’re not at the finish line yet.

@sarahjaney97 4 жыл бұрын

@@hothotheat3000 exactly! I'm still very anxious but trying to stay positive

@hothotheat3000 4 жыл бұрын

You can do it! As weird as this will sound, my friend told me to write out each step on a really nice piece of stationery paper and cross it off one at a time when it’s done. That paper will keep you accountable and also provide encouragement as you look back and see all that you’ve accomplished. Once I closed, I framed that paper and hung it up in my home office.

@sarahjaney97 4 жыл бұрын

@@hothotheat3000 that's such a good idea! Because I keep thinking about how much more needs to happen before closing and its so stressful

@DBeaubrun 5 жыл бұрын

Our contract was accepted last night and found this video which was extremely helpful!!

@TheMattLeighton 5 жыл бұрын

Congratulations! Thanks for watching

@maxwellharmon4172 6 жыл бұрын

I really appreciate all the videos you've worked to create. thank you!

@iDreamOfOkra 3 жыл бұрын

All your videos are awesome and straight to the point. Thanks for another great informational video!

@TheMattLeighton 3 жыл бұрын

Thank you so much for watching!

@FranciscoLopez-jp5ng 3 жыл бұрын

Hi Matt, I just opened escrow yesterday and next step is inspection, I am nervous and excited as well... 38 year old first time buyer in California

@TheMattLeighton 3 жыл бұрын

Congratulations!

@antoniobridgeforth2362 2 жыл бұрын

I just put my offer in today. Turning 38 in March. First time home buyer as well.

@antoniobridgeforth2362 2 жыл бұрын

Update. My offer got accepted.

@lopezpaco54 2 жыл бұрын

@@antoniobridgeforth2362 Congratulations man, I have been a first time home buyer for 4 months now loving every moment of it. 🏠 blessings

@tfptravel.food.peace.3788 4 ай бұрын

@antoniobridgeforth2362 congratulations!!!! Any update?

@liliyaromanovich4923 6 жыл бұрын

GREAT STUFF!!!! Thanks.

@cassandramunoz4062 3 жыл бұрын

thank you that was very informative

@tfptravel.food.peace.3788 4 ай бұрын

My offer was just accepted! Ahhhhh!!!!! My very first offer! Looking up inspectors now! THANK YOU for this video. I think ill go have an adult beverage now😂

@ChrisMolenaar Жыл бұрын

Thanks for the great points in every step of buying a house!👊🤗

@amazonraw-she-uh4439 3 жыл бұрын

Great video ! Very helpful

@HossainMohd 4 жыл бұрын

Really Great video! Kudos to Matt Leighton!

@TheMattLeighton 4 жыл бұрын

Thank you Hossain!

@HossainMohd 4 жыл бұрын

No, Thank you Matt!

@amanacatandhisdog8836 11 ай бұрын

We paid cash and had to close about 2 weeks after going under contract. We didn’t have time to schedule a walk through until about the day of closing. I do understand what you mean though. A very good video. So appreciate your useful content.

@alfaroec 4 жыл бұрын

Thanks for all these valuable information. No cerveza 🍺 for me yet!

@TheMattLeighton 4 жыл бұрын

Thanks for watching Mario!

@slappymcface5681 3 жыл бұрын

Likes and subbed. This is awesome for the first time buyer

@TheMattLeighton 3 жыл бұрын

Thank you!

@mojavedesertsonorandesert9531 3 жыл бұрын

🏘️Your on a natural high!😂 Wish you were an agent out here in the Palm Springs, CA.! Excellent videos... 🏘️🏜️🏘️🏜️🏘️🏜️🏘️

@luisgonzalez5271 Ай бұрын

Great Job! Matt

@beyoutifullynatural9451 3 ай бұрын

Super helpful! Thanks!

@janelledmondson5316 5 ай бұрын

Thanks very informative

@Loantt83 5 жыл бұрын

Really enjoyed this video!😘😘😘 my goal is to watch or read something beneficial to my RE career each day, and somehow I’m drawn to all ur videos;) prolly bc you speak the lingo tha newbies like me can relate too...and all ur videos are very practical videos 😘 my question is...offer accepted, contract in place...1) get inspection ASAP...first thing on the list right!? Then as soon as I get the inspection report back, I call the lender!? Just to make sure that I’m not paying the inspection, appraisal, and title stuff all at once ...then to find out, the house failed inspection. And That’s a lot of money out wo the house !?thanks;)

@TheMattLeighton 5 жыл бұрын

Thanks for the support Loan! Really appreciate you watching. Yes, you are correct. Inspection first, then pay for the appraisal. However, you do want to be sure you've been pre approved by alender before going under contract but sounds like if you've watched any of my videos, you know that already!

@Loantt83 5 жыл бұрын

Matt Leighton if it’s a cash paying home, do I still need an appraisal!? Assuming it passed inspection, good to go right!? No need for appraisal since it’s not financed by the bank!

@TheMattLeighton 5 жыл бұрын

Correct! You don't necessarily need an appraisal for a cash purchase

@moni017 3 жыл бұрын

what if the lender is the one thats not anwering our calls

@biggip254eaglenation2 3 жыл бұрын

Waiting right now to see if our offer was accepted in a very competitive market ....Should know within the hour !!

@TheMattLeighton 3 жыл бұрын

Good luck!

@TrumpxDaily Жыл бұрын

Great video. I’ve paid my earnest, inspection done, home insurance bought, survey in progress and I close on the 13th. Am I missing anything? Title insurance and warrantee is paid at closing?

@prathimadeshpande 3 жыл бұрын

We bought new duplex house house last year month of May(Duplex House 1 unit) but now we found out that is not recorded properly both duplex 2 unit tax is put on my tax bill. When we called title company they are not ready to accept their mistake not ready to correct it. Now they are saying that is our fault?

@jeffterry102 3 жыл бұрын

Just signed offer tonight trying to figure out whats to come next lol and its a lot but got 44 days til close I am ready

@TheMattLeighton 3 жыл бұрын

Congrats!

@jeffterry102 3 жыл бұрын

@@TheMattLeighton thanks I got a good team helping me through this as easy as possible lol

@vicmarc4984 4 жыл бұрын

A great video! I’m convinced my realtor is terrible, she doesn’t explain HALF of this !

@TheMattLeighton 4 жыл бұрын

Thank you for the compliment and sorry to hear you've had a bad experience with your agent

@biggunrgc 2 жыл бұрын

Is it the same for land purchase?

@tfran235 3 жыл бұрын

Applied for loan they're requesting 3 years tax on form 4056 I thought its 2 years taxes

@sam5miy 5 жыл бұрын

My agent told me that the inspection period should only be around 7 days but my brother's agent and my friend who used to be an agent in another state said the inspection period should go all the way up to a week before closing that way you have time for all the inspections you want/need as well as getting quotes for things that come back on the home inspection. Your comment about 7 days then 10 days confused me so where do you stand on length of inspection period?

@TheMattLeighton 5 жыл бұрын

In my market it is 7-10 days. Other markets may be different. DC area is 7-10 days, and may be even shorter than that (5 days).

@sam5miy 5 жыл бұрын

Thank you. These houses have been on the market a while so I feel comfortable asking for a little longer time to get things done. I can see a shorter period being more effective in a fast paced market like DC

@asinheaven 6 жыл бұрын

How would you handle the "final walk through" in a situation where the sellers will be renting for a short period (7 days) following close of escrow?

@TheMattLeighton 6 жыл бұрын

Do two separate walkthroughs

@bz3105 5 жыл бұрын

Congrats bud: I just gave this video its 400th "like!" ;)

@TheMattLeighton 5 жыл бұрын

Thanks Brandon! Very much appreciate your support! 👍👌

@mariatolentino4516 5 жыл бұрын

What if I have been living in the condo for eight months now? I love it, I know what works and what doesn't, the potential problems that could arise, etc.? The owner gave me first option to buy, since she knows I don't want to move out. Price is good, I got pre-approved, I'm waiting for docs from the lender bank. Is a final walk-through needed if I have been living in the place for quite some time? The cost sheets talk about money needed to close. I am assuming that it's less during settlement because of the prepaids. Am I mistaken?

@TheMattLeighton 5 жыл бұрын

Will you be doing a home inspection? Since you're living there already, it's probably not necessary. Ask your lender about money needed to close, it depends on what and how much you choose to prepay.

@porshiacrosby5491 3 жыл бұрын

I am at the step of just paying escrow deposit and the Realtor sent the contract to my lender now im waiting on what's next😶

@TheMattLeighton 3 жыл бұрын

Congratulations on having your offer accepted! Your lender and Realtor should be able to advise on next steps if you ask!

@Ms_T_Perfectly_Imperfect 5 жыл бұрын

I've been told not to do the walk-through too far in advance because the seller might try to take items that were supposed to be left behind in the contract.

@TheMattLeighton 5 жыл бұрын

The goal should be to do the walkthrough about 3 days before closing. Remember as the buyer, you have the power so if the property is not in the same condition as it is stated in the contract, you don't have to sign until the seller fixes whatever issue has come up

@nikebull41 3 жыл бұрын

Selling my home fsbo. Buyer sent offer we signed contract. He offered to use his title company closing is next week. I haven’t heard a word from him or title? Is this good?

@TheMattLeighton 3 жыл бұрын

Probably not. Contact the title company

@nikebull41 3 жыл бұрын

@@TheMattLeighton Ok will do. If he backs out it’s cool but I would at least like if he inform me instead of dragging out contract until closing date which is set for the 23rd. Last email I got from them was they look forward to closing.

@yomommaahoe3352 5 жыл бұрын

Man your a fucking stress reliever man

@TheMattLeighton 5 жыл бұрын

Thanks! Appreciate you watching

@sarabethmattis6099 3 жыл бұрын

1. Don’t celebrate. - maybe one adult beverage. 2. Write out all your contingencies. - inspection, financing, appraisal, etc... 3. Earnest money deposit - 1-3% of sales price. 4. The home inspection. Schedule this immediately. 5. Get lender on speed dial. - Get documents time your lender. 6. Stay in touch. Communicate. - Owner, title company, appraiser, etc... 7. Get the estimated cost of closing as soon as you can. 8. Think logically, not emotionally. 9. Check in with title company, lender, and real estate agent. - understand where each party is in the transaction. 10. Schedule final walk through a week before closing. - have wiggle room to make sure everything is the way it should be.

@dathoang6993 6 жыл бұрын

hi, i am in the military and station oversea. upon return i want to buy house but also i need to buy a car immediately. if i buy a car, do i have to wait for few months before i can ask for a home loan?

@TheMattLeighton 6 жыл бұрын

Great question. It will depend. Start to think about what kind of house you can afford then talk with a local lender and ask them how (if) the car purchase will affect the loan

@jessicarussoteam 7 жыл бұрын

Great list. Can I share?

@TheMattLeighton 7 жыл бұрын

Please do!

@thanminh5146 5 жыл бұрын

Hi ! My agent told me that I have to deposit my down payment before two day of settlement day . Is it right ! I think I can bring money on the day of settlement.

@TheMattLeighton 5 жыл бұрын

Both of you are right. Will you be paying by check or by wire? Wire should be a few days before settlement. If you're paying by check, you can bring that to Settlement. That is for Virginia. It may be different for your state

@thanminh5146 5 жыл бұрын

Matt Leighton he said it wire. I am in Maryland. But I can't choose between wire and check

@TheMattLeighton 5 жыл бұрын

Yeah Maryland is weird like that. I would trust your agent. If it's wire, the reason that the money is needed a few days before is because it takes a day or two before the money hits the settlement company's account

@thanminh5146 5 жыл бұрын

My down payment is gift ,so Maybe this is reason . Thanks for ur time . I really appreciate it by subscribe your channel

@TheMattLeighton 5 жыл бұрын

Thank you!

@mycozeplace 2 жыл бұрын

We just got our offer accepted 😧.. we’re already Greenlight approved for our loan so I guess it’s just appraisal and inspections.

@k.b.s4703 2 жыл бұрын

Aren't the inspections and appraisal first and then the loan?? Asking because I'm curious

@questlive2338 2 жыл бұрын

@@k.b.s4703 Yes - they might be confusing it with preapproved for loan. No lender will give a loan w/o appraisal. Inspection is more for buyer

@hothotheat3000 4 жыл бұрын

Final walkthrough a week out? God forbid it, but what if something happens to the house in the seven days between final walk and settlement?

@f-n-sweekendwarriors8565 5 жыл бұрын

do have to give a e m d ?

@TheMattLeighton 5 жыл бұрын

Probably. It may depend on your state. Assume you have to unless your real estate agent advises otherwise

@tfran235 3 жыл бұрын

Who gets inspection report

@TheMattLeighton 3 жыл бұрын

Buyer and buyer's agent. If repairs are requested, the buyer's agent sends the report to the seller

@tfran235 3 жыл бұрын

@@TheMattLeighton do I send copy to lender

@TheMattLeighton 3 жыл бұрын

@tfran235 3 жыл бұрын

@@TheMattLeighton ok thanks I just sent report copy to lender lol oh well