How to Buy a Home | A Definitive Guide

Buying a house is not exactly a simple process. When buying a house, you’re assuming ownership of a piece of property with loan officers, real estate agents, settlement attorneys, inspectors, appraisers, and all sorts of other professionals involved.

All that withstanding, the home buying process is heavily-trod ground. Times have changed and so has the real estate market. In this blog we are going to walk you through the key steps of buying a house. By the end of this article, you will have a clear understanding of the home buying process and the steps you need to take to accomplish your dreams.

Step One:
Get Your Finances Straight and Get Pre-approved

Determine what you price range really is to save yourself immense amount of time and stress. Make sure you are looking at houses in your price range.

Getting pre-approved allows you to establish your realistic budget. A bank or lender takes a look at your finances and gives you a letter stating a ballpark figure on a loan without applying for that loan. This takes the unknown out of the equation.

Before you begin shopping for a home, meet with different lenders. You will learn what you can afford and get on the right track with financing.

Step Two:
Find a Real Estate Agent

A real estate agent is your guide through the tough parts of the home search and home buying process. Although you will work with lots of people, your real estate agent will be there from start to finish. As a buyer, working with a real estate agent costs you nothing.

The value that a buyer’s agent will provide you in accessing homes for sale and negotiating offers gives you an immense toolkit. There’s practically no reason not to work with a buyer’s agent.

Agent’s can immensely help with making sure your offer is taken seriously, making your offer attractive enough that the seller accepts it and getting a good deal. So, how do you find a good agent? Interview them and see if you like them. Your agent is going to be with you through the entire process so make sure they are a good fit.

Step Three:
Find a Home and Put in Your Offer

This is the most important step of the process. Your agent plays a big part in closing the deal. How and when you put in your offer can increase your chances of making the deal you want. There are three keys to success when placing offers. You need to make sure your offer is taken seriously, make sure your offer is attractive enough that the seller accepts it, and everyone feels that they are getting a good deal. A real estate agent plays a crucial part in the success of this step.

Step Four:
Closing on the Home

Once the offer has been accepted, the house is considered “under contract”. You now have obligations to follow through before the sale is final. During this stage you need to get your mortgage finalized, pre-sale home inspection and depending on the area, other real estate requirements.

After all of those steps are completed, you show up and sign paper work and the keys are yours!

Buying a home is a long process that can have many bumps in the road. The best way to navigate this process and signing your dream home is with a real estate agent. No matter how scary this process may appear, with the right real estate agent this buying process will be seamless!