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The Buying Process

1. Deciding to Buy a Home

Whether buying a first home or a veteran of the process, purchasing a property is a financial and emotional decision requiring the experience of a trusted and professional partner.

2. Find the Right Real Estate Agent/Realtor®

You need an advocate and advisor: with all of the forms, financing, inspections, marketing, pricing, and negotiating, you need to work with people who know the process well. More importantly, an agent who takes the time to understand your goals; can effectively negotiate on your behalf; and can ensure your expectations are exceeded.

3. Get a Mortgage Pre-Approval

Most buyers finance their home purchase, and a consultation with a mortgage lender is a crucial first step in the process. Find out how much you can afford before you begin your home search. Starting the loan process before you find your dream home also ensures that your offer will be considered seriously by the Sellers, as the lender will be able to speak to your qualification for the loan based on their review of your income and file.

4. Make a Priority List

Work with an experienced agent to help you narrow your priorities and make an informed decision about which home to choose.

5. Choose a Home

While no one can know for sure what will happen to housing values, if you choose to buy a home that meets your needs and priorities, you’ll be happy living in it for years to come.

6. Get Funding

The cost of financing your home purchase is usually greater than the price of the home itself (closing costs, taxes, and prepaid items). Get as much information as possible regarding your mortgage options and other costs.

7. Making an Offer

While much attention is paid to the asking price of a home, an offer to purchase includes many other terms. In some cases, terms can represent thousands of dollars in additional value—or additional cost—for buyers.

8. Get Insurance

Homeowners insurance protects owners in the event of a catastrophe. It is also required in order to secure a loan from a financial institution.

9. Closing

The closing process, which in different parts of the country is also known as “settlement” or “escrow.” In practice, closings bring together a variety of parties who are part of the real estate transaction.

10. You've Done It!

You’ve looked at properties, made an offer, obtained financing, and gone to closing. The home is yours!

Looking for the perfect place to call home?

No matter where you are looking to call home, having a qualified and expert real estate agent will help make the home buying process easy. If you are starting out on your search, or you have been at it a while and still have questions, scroll down to view this guide to streamline your efforts and offer some much-needed peace of mind.

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