Metro Detroit Home Buying FAQ: What Are the Steps to Buy a House?
Wow, that a pretty big question. I'll give you the "short" version.
First, you meet with a Realtor®. That's me!
Contact a Mortgage Professional. They'll ask a lot of questions and depending on the answers, they'll give you a pre-qualification, meaning based on what you told them, you'll be qualified for X amount mortgage. Tell them the truth. Always. The last thing any of us need is to go through the whole process and you not being able to actually get approved for a mortgage. I have a few trusted lenders if you need one.
View homes. This can be fun, but sometimes turns into frustrating. You'll see.
Write an Offer. When we find the home you want, we'll put an offer together. Hopefully, our offer is the one that the sellers accept.
Home inspection. Depending on what the professional home inspector finds, we move on to the next step.
Apply for the Mortgage. This is more formal that the conversation over the phone with the lender. You fill out an actual application and get all the required documents to the lender. The sooner the better.
We Wait. Basically, this is the time that the mortgage pro does their thing. This part can be frustrating, too. But it's the process, we just have to deal with it.
Set a Closing Date. Once we get approved for a mortgage, we'll set a closing date. Do not apply for ANY credit or loans during this entire process! Also, don't charge anything. Maybe a pizza or a tank of gas, but pay it right off when you get your bill. Nothing more than a few bucks. Talk to the lender about this!
Closing. We'll all meet up at a title company. We sit in a room that's normally too hot. We all get free pens and you, the buyer(s), get to sign a LOT of paperwork!
Get Keys. Someone will hand you a set of keys and, viola! You own a house.
Seems kind of simple, doesn't it? It can be if you work with the right people.
I'll be waiting for you call.