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Home Purchase Basics

Congratulations on your decision to buy a new home! There are many important things to consider throughout the process, especially if you are a first-time homebuyer. Here is some information that will keep you on track.

A home purchase may be your largest financial transaction to date, so it is important to make the right decisions and to keep an eye on the details. With the assistance of your real estate agent and mortgage banker, it can be an efficient, pleasant and ultimately rewarding experience. 

Your Real Estate Agent Will:

  • Preview available homes to find reasonable choices based on your needs.
  • Help you determine the difference between a good buy and a property which, because of its nature (neighborhood or market appeal) might have to be discounted if you decide to sell in the future.
  • Negotiate the best deal for you. With a pre-qualification letter from us in hand, your real estate agent will be able to demonstrate that you are a qualified and capable borrower. This will strongly influence the seller, and may make the difference between the seller accepting your offer or someone else's.

 Your Mortgage Banker Will:

  • Assist you in selecting the best loan with the best rate and fees to meet your personal situation. This single decision can save you money upfront and thousands of dollars throughout the years.
  • Keep you informed of your loan status throughout the entire process.
  • Keep your real estate agent informed of your loan progress. Your personal information is always kept confidential, only deal points and progress are shared.
  • Order an appraisal at the appropriate time.

 Help Yourself By:

  • Keeping your real estate agent informed of any questions or concerns as they develop.
  • Making sure you are pre-approved as early as possible. This will put the power of financing behind you so you can concentrate on selecting your home.
  • Keeping the process moving by providing documentation and decisions as soon as reasonably possible. By doing so, many of the details are taken care of early in the process so you can comfortably concentrate on any last-minute details or events that require your attention.
  • Enjoying purchasing your home, but remain objective. Make the business decision that is best for you.
Dacotah Bank
Box 1210, Aberdeen, SD  57401
Toll Free:  (800) 881-5611
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