Home Buying Process
- 1. Find a Buyer's Agent
- A Buyer's Agent is a Realtor who will represent only you and have a responsibility to look out for your best interests. Best of all, their service and expertise are provided to you at no charge.
- 2. Meet with a lender to become pre approved
- There are a lot of mortgage lenders and programs available today. Your Realtor will assist you in finding both the lender and mortgage that is right for you.
- 3. Review available homes on the market
- After determining what is important to you in a home and a community, your Realtor will provide you with a list of available homes on the market that meet your needs.
- 4. Schedule a tour of those homes of interest
- Your Realtor will set up a time to tour the homes you have selected so that you can find your dream home.
- 5. Make an offer
- An expert in negotiations, your Realtor will prepare your initial offer and work tirelessly to get you your dream home at the best price.
- 6. Once you have an accepted offer, perform inspections on the home
- Home inspections are an important part of the buying process. You should expect to spend 2-3 hours getting these done. A quality home inspection will not only point out potential defects but will also provide you with valuable home maintenance tips.
- 7. Negotiate repairs based on the finds of the home inspection
- You can rely on your Realtor to negotiate with the Seller's Agent to repair any issues that were found during inspections. Keep in mind that you should focus on asking for issues that affect habitability of your future home.
- 8. Appraisal is ordered by your lender
- After the seller and you have agreed on repairs, it is time for the lender to order the appraisal.
- 9. Final Review By Loan underwriter
- When the appraisal is in and you have supplied your lender with all requested documentation, the underwriter will review everything for Final Loan Approval.
- 10. Closing date and time is scheduled
- You are almost there. Your loan has been approved and closing is scheduled. At this time, you will want to schedule your movers and call to get utilities in your name on Closing Day.
- 11. Closing Statement is sent to the buyer and seller to review before closing by the lender
- Prior to closing, you will receive a copy of your Settlement Statement. Carefully review this and contact your Lender or Realtor with questions.
- 12. Final Walk Through
- There will be a final walk through of your future home 24-48 hours prior to closing.
- 13. Closing
- This is the day you have been waiting for! You will sign all your loan and title documents. Don't forget picture IDs and a certified check made out to title for closing funds.
- 14. Congratulations, you are a new home owner!
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