The Home Buying Process

Prequalify for a loan

Getting pre-approved for a loan will assure you are looking for a house in a price range you can afford.  Prequalification will allow you to move quickly on your search for a home.   Sellers know you are serious when you place a bid and have your mortgage in hand.   The knowledge that your buyer can afford the property makes a bid more attractive.

Decide what type of home you are looking for and search for your home

Prior to looking at property, you will need to get a realistic idea of the type of home you want.   Neighborhoods, schools and how much room you need are important.  Make a list of features you must have, and features you can live without.  Keep resale in mind. 

Know the features that will increase the resale value of your home:

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Share your lists with your real estate agent.  Your agent will assist you in finding properties that meet your needs.   Develop a rating system and rate the houses you visit.   Choose the house you like best and make that the standard.   When you find a better home make that the new standard.  Keeping  your list to no more than four homes to avoid being overwhelmed.  Looking at properties online to know what is available on the market in your price range will give you ideas on what to look for.

 Make an offer

When you find the right house, it is time to move on to the serious contractual end of the home buying process.   Buyers and sellers often have different expectations.  Your real estate agent will negotiate a mutually agreeable outcome.

Get a Home Inspection

A home inspection will provide you with invaluable information about the home.  It is common to find leaky roofs, insect infestation, cracked walls or foundation problems during an inspection.  Your real estate agent can help you find a reputable inspector.   Your home is your investment, and you should know everything about it.  Your inspection report will provide a list of problems that can be negotiated with the seller.

Close on your home

Prior to closing your agent will help you tie up last minute details and paperwork.   You will need to make sure that the mortgage, title and homeowner's insurance paperwork are completed.  All deposits into your bank need to be done.    This is the day where the final check will be written and you will receive the keys to your home.

Move Into your new home

Prior to moving in, you will need to arrange for utility service, cable and phone service.  You may want to invest in an alarm system.    This is the best time for painting, replacing carpets or doing any planned remodeling.  Clean your home before the movers arrive, an empty home is much easier to clean.  It is time to contact the post office with your new address!