10 Steps to Buying a Home

Home Buying in 10 Steps

Scratching your head about the home buying process?  Scratch no more.  The process is broken down into 10 steps and summarized below.  Contact us for more specific information or questions.

  • Select a Realtor- 
    • A Realtor is probably the single-most valuable FREE resource you can have during the home buying experience.
  • Establish your budget and secure your pre-approval from your lender-
    • You may wish to talk with several lenders
    • Understand your costs
    • Make certain you are comfortable with the required down payment amount, closing costs, and the monthly payment
  • Complete our buyer’s interview-
    • Identify what you want, or don’t want in a home
    • Location, Location, Location
    • Identify other requirements
    • Timeframe for purchase
    • Time you can spend searching
  • Select a home-
    • We will personally view many homes that meet your criteria. Your goal is to rule out homes and neighborhoods.
    • We’ll check comparable sales & competition
    • We’ll request sellers’ disclosures. Estimate expenses- principle, interest, taxes, insurance and expenses such as HOA, CDD
  • Make an offer-
    • Done formally using a standard contract
    • Submitted to the seller’s agent with your pre-approval letter
    • Sleepless nights are a guarantee during the offer period!
  • Negotiate and enter into a contract-
    • We may go back and forth negotiating price, closing date, etc.
    • We may not complete a contract, if not- back to steps 3 and 4
    • Once we complete a contract, I will give you a formal list of tasks that need to be done to satisfy the contract
    • $$$ – Earnest money deposit
  • Secure your financing-
    • Lender will request appraisal
    • Title company will request title, survey
    • You will work with lender to satisfy any financing stipulations
    • $$$ – Appraisal
  • Conduct home inspections-
    • Select an ASHI inspector (www.ashi.org). I can give you the names of inspectors that I have worked with
    • Complete inspections and review repairs required
    • Determine course of action based on reports and the terms of your specific contract
    • $$$ – Home inspection, WDO inspection, wind mitigation inspection, 4-point inspection, etc.
  • Countdown to closing-
    • Make moving plans – Do you need to hire movers? Rent temporary storage? Butter up your friends with beer and pizza for the heavy lifting?
    • Set up utilities
    • Pack, remember- MOVE is a four letter word!
  • Closing!
    • Final walk thru
    • $$$ – Wire closing costs/down payment
    • Review closing documents
    • Wrist warm up exercises so your hand doesn’t cramp while signing!
    • CELEBRATE!!!