Tuesday, November 24, 2020 / by Brad Brethouwer
The 9 Essential Steps of the Home Buying Process
Thinking of buying a home soon? Here are the nine steps you’ll need to take:
1. Get pre-approved. Make sure you talk to a mortgage lender and provide them with all your necessary financial documents. This will let you know what you can afford so you don’t waste time looking at houses that are out of your price range.
2. Meet with an agent. Do your homework and see what you can find out about all the local agents in your area. Don’t just work with someone you cross paths with at an open house.
3. Set up a home search. The parameters should include how much you’re approved for and what you can afford. From there, you can narrow down your criteria.
4. Go out and look at homes. Pick several that fit your search criteria. These days, you can search online and get a pretty good idea of what you want before you even have to set foot outside.
5. Make an offer. Your agent should perform the necessary research about the home you want and its surrounding neighborhood in order for you to make an educated offer.
6. Start the mortgage process. After your offer is accepted, you’ll give that offer to your mortgage lender so they can start the mortgage process.
“This is an important process, so you need to have a competent agent by your side.”
7. Schedule tests and inspections. Among other things, this means a home inspection and a radon test.
8. Negotiate the repairs. If any structural or mechanical issues are found within the home during the inspection, you’ll negotiate with the seller and come to some sort of resolution over how they get fixed.
9. Close the sale. At this point, it’s all a matter of making sure all your documents are in order and that you’ve crossed your t’s and dotted your I’s.
This is an important process, so you need to have a competent agent by your side. If you don’t, your home purchase can turn into a nightmare.
If you have any more questions about the home buying process or you have any other real estate needs at all, don’t hesitate to reach out to us. We’d love to help you.