Purchasing A Home, Step By Step

Purchasing a New Home Step by Step

Step One – Research

  • Obtain free credit report and clear up any issues
  • Visit open houses, do online research, daydream

  • Declutter your existing home, have a garage sale

Step Two – Prepare

  • Select a realtor and discuss lenders (sign Buyer’s Agreement)

  • Meet with lender and obtain pre approval letter

  • Set aside funds for deposit with documentation
  • Meet with realtor to determine wants and needs

    Step Three – Hunting and The Offer

  • Property showings

  • Make an offer (include earnest money deposit and letter of pre approval)

  • Counter offer or back up offer (negotiations)

Step Four – Inspections and Contingencies

  • Perform building and pest inspections

  • Perform wind-mitigation and 4 point inspections for homeowner’s insurance

  • Make repair requests if applicable

  • Apply for mortgage *

  • An appraisal will be completed (at the request of the lender-AFTER end of inspection contingency)*

  • A survey will be completed (also at the request of lender and after inspection contingency)*

  • Obtain homeowner’s insurance*

  • Review closing disclosure from lender

  • Obtain bank check or wire for monies due at closing*

  • Final walk through of property

Step Five – It’s Yours

  • Closing

  • Keys in hand!

  • Clean the new house and MOVE IN

  • Talk to your Realtor about organizing a house warming party to meet your new neighbors

  • Leave a candid review for your realtor, lender and title company to help guide others in the process

*These items carry a cost to the buyer. Some are paid at closing as part of the closing costs, others will be paid for as they arise.

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