Thinking of buying a home? There is a lot that goes into the buying process! Time, money, and patience. In this blog we will walk you through the process step by step which will hopefully prepare you for what to expect. Make sure you check out our “Things to Consider before Buying” blog before making a decision!
Step one: Get pre-approved
Be mindful of interest rates at the time. You don’t want to get locked into paying a ridiculously high rate, because this is a long term investment for you and percentages, even small ones, add up quickly. Once you are pre-approved for your financing you will have a better idea of houses that will better fit your budget.
Step two: Find a Realtor
If you already have one or don’t plan on working with one, skip this step. It’s important to find a real estate agent who fits your needs and who is willing to work hard for you. How do you find a good realtor? Click here to read our blog! Having a realtor will make the buying process much smoother!
Step three: Find a property
Depending on how particular you are and the market at the time, this may take awhile. It’s important to find something that you LOVE. Don’t settle for less than you want, you are putting a lot of time and money into buying this property.
Step four: Make an offer
Once you have made up your mind, it’s time to put together an offer price for the property! If you aren’t working with a real estate agent, you will need a contract that you can send over to the owner with an offer. If you have an agent they will help you get your offer sent over to the sellers. If possible, it’s always a good idea to send your pre-approval from your lender along with your offer!
Step five: Under contract
Okay so you got the property under contract, what now? First it’s good to let your lender know and keep them in the loop with what is going on. Now it’s time to order your home inspection, your lender may order an appraisal, or anything else that is going to make sure you are buying a house with good bones.
Step six: Close
Now, assuming that everything went well with that home inspection and everything is good to go, work with your lender to make sure that the deal closes! Your lender should walk you through this buying process and keep things organized for you so things go smoothly.
Step seven: MOVE IN!
We’ve laid this out for you in very simple steps, and I wish I could say “this is going to be a piece of cake!” But, every lender is different and it’s not always easy to buy your home so be patient with the process. If you need help obtaining a mortgage, reach out to us! We can help you get funded or point you in the right direction! Good luck!