The Home Buying Process

Searching for a home can be a daunting task not knowing what to expect. Hopefully these steps can give you a better understanding of what you can expect when buying your next home. To access our home buyer guide click here.

Here is a summary of the home buying process.

Meet with a Realtor to discuss the type of home you’re looking for, including style, price, and location.
Get Pre-Approved with a mortgage lender so you know how much you qualify to buy. Some of the things you will need to provide are 2 months bank statements, 2 most recent pay stubs and last 2 years tax returns. Knowing what you can afford is critical to a successful home shopping experience. Click Here to submit an application with our Trusted Mortgage professional.
Search for Homes, this is fun part! Your agent will schedule appointments to preview properties and help you find the perfect home. You can start searching for homes on the HERE.
Once you find the perfect home you and your Realtor will prepare an offer based on the price and terms you choose, and the Realtor will present it to the seller’s agent.
Negotiation and Contract: Your Realtor may have to go back and forth to come to terms with the seller but once they agree, both parties will sign the appropriate contract and addendums. The Contract provides you with a timeline to obtain financing as well as time to inspect the physical condition of the home. Your Realtor will inform you of all your rights and responsibilities related to the contract.
Once the contract an addendums are signed you are now Under Contract. At this point you will need to submit your escrow deposit with the escrow agent.
At this point you will have a limited amount of time to do your home inspection, your lender will then order the appraisal, the title company will order the survey of the property and do title and Lien searches on the property. As long as everything goes smoothly here you will be ready for closing.
Preparing for Closing: You will be finalizing your loan with the lender by providing any additional document they require and reviewing closing documents.
Closing: This is the time you will have the funds required for closing wired to the title company for closing. A title company or an attorney typically acts as an independent third party to facilitate the closing. Once all mortgage documents and Deed have been signed by both seller and buyer and the lender has wired the funds, the deal will be done and you are now a proud owner of a new home.

We hope these steps will give you a better understanding of the home buying process. If you are looking for a dependable Realtor to help you through the buying process please give us a call.