The 6 steps of the home buying process

The 6 Steps of The Home Buying Process

Step 1

Getting Pre-Approved Prior to Shopping for a Home; in the pre-approval process you figure out home much home you can afford, so you can then figure out what type of down payment to budget for. You can also determine your monthly mortgage payment and what type of loan program you might use to finance the new property.

Step 2

Finding Where You Want to Live Through Exploration; explore the many communities and the neighborhoods that are in them. Think about what your ideal neighborhood looks like then use our communities tab to find what neighborhood has what you want. If you don’t want to explore yourself, go to our contact tab and put in what you are looking for and we will find it for you!

Step 3

Assembling your Home Buying Team- Knowing your players; the buying process can have various challenges that will be easy to overcome with the right people by your side. In this step you choose your agent (hopefully one of us) the other people involved are the appraiser, title company, home inspector, insurance agent, and lender. Buying a home is really a team activity because there are a lot of tasks involved, important timelines, documents, and responsibilities that need attention. So, it’s best to work with people who are reliable and trustworthy.

Step 4

Purchase Offer Submission; assuming you have already been preapproved, you and your agent can start looking at properties, and once you find a property that you like your agent will submit your purchase offer to a listing agent or seller. The seller will then either accept or reject the offer.

Step 5

Conditions and paperwork; in this step, you can set all of the conditions like if you want the property inspected, appraised, or if there are things you want the seller to repair before closing. This can all be specified in a contract.

Step 6

Closing; you will receive a copy of the closing statement which you can look over before closing, you will do a final walk-through to inspect the property. Your agent will arrange a closing date and time with the title company. You will also need to bring a cashier’s check that will total all the closing costs and the balance of the down payment.