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STEPS FOR BUYING A HOUSE

Whether your dream home is new construction or an existing home, you will want to know what to look for as you begin your home search. What are the logical steps for buying a house? What is involved in the house buying process? Having a list of the steps necessary for the house buying process can serve as your road map. Check out the list below and see if you are comfortable with the necessary work to conduct a home search, negotiate, and close on a new home.

Using an exclusive’s buyer agent can help you learn about the process of buying a home while having an advocate to represent your interests throughout the experience.

  1. Get pre-approved for a mortgage.
    Credit report, FICO score, type of mortgage, shop for best rates and programs.
  2. Determine your wants and needs
    Style of home, size, price, location.
  3. Seek out an exclusive buyer’s agent
    Compare the services of different agents and look for good personal chemistry.
  4. Search for homes in the MLS and For Sale By Owner (FSBO)
    Sign up for daily email notification services and stay on top of all new FSBOs coming to market.
  5. Check out the neighborhoods, schools, crime rate, traffic, zoning, and work commutes
    Rely on your exclusive buyer’s agent’s expertise and in-company resources. Check the web for helpful information.
  6. Do the due diligence and research on your property of interest
    Visit or have your agent visit the town or city hall to learn of any zoning changes, liens, easements, or other restrictions.
  7. Prepare the offer and negotiate
    Have your exclusive buyer’s agent prepare a property value study and ask the seller if there are any other offers and his motivation for selling, deadlines, etc.
  8. Conduct the home inspections and other inspections
    Take advantage of the inspection contingencies in your offer and get thorough inspections to eliminate any surprises after you move in to your new home.
  9. Final negotiations and sign the Purchase & Sale Agreement
    Use the inspection report to re-negotiate, if necessary and sign the P&S after review.
  10. Walk-through inspection prior to Closing
    Visit your new home before you sit down at the closing table to make sure everything is as you expect it to be.
  11. Closing