7 Steps to the Home Buying Process

Whether you’re a first time home buyer, or you’re shopping for your 4th or 5th home and just need a refresher on the home-buying process, you’ve come to the right place! Buying a home is a big and an important step, for anyone, so you want to make sure that you understand the process, what’s expected of you, and where you can find help. Here is a breakdown of the 7 Steps To The Home Buying Process…

STEP 1:

Your first step should be to meet with a loan officer. This is because you need to see if youqualify for a home loan, and how much you qualify for before you start your home search. When you know what you can afford, you can narrow down your housing search by price and possibly even by neighborhood, which will save you a lot of time!

STEP 2:

Second, find a real estate agent. You’re not required to use a real estate agent, but as a buyer, you pay nothing to use a real estate agent, so why would you not take advantage of this resource? Moreover, a real estate agent can help you with all of the unknowns. Pick an agent that is familiar with your area for best results.

STEP 3:

Third, begin your home search! Once you are pre-approved for a home loan and have picked out a real estate agent, the fun part begins, the search for your new home. You can simply tell your agent what you are looking for and s/he will show you homes that fall within your price-range and meet the criteria that you want for a home.

STEP 4:

Fourth, make an offer. Once you find the home that you want, you need to make an offer and present it to the buyer. Have your real estate agent help you write it up, that way you can be sure that you’re making a good offer.

STEP 5:

Next, get a home inspection: Before you actually pay for the home and have it transferred into your name, you need to figure out if anything is wrong with the home and how old everything is. It is a great thing to have done even if the sellers are not willing to fix anything, so you can decide whether or not the extra costs of fixing things is worth it to you. Either way, you can submit a request to remedy and they might fix some of the things for you.

STEP 6:

Almost there-time to finalize your loan: If you are still interested in buying the home after the inspection, you will need to meet with the loan officer again and finalize your loan.

STEP 7:

Lastly, close on the property. This is where you sign all of the necessary paperwork and get the keys to your new home!

Remember, if you have any questions or concerns along the way, your real estate agent and/or lender should be able to help you out.

Read more tips on buying a home here.