The Home Buying Process

The Home Buying Process

10 Steps to Buying a Home

  1. Get pre-approved with a lending specialist
  2. Shop for your dream home with an accomplished real estate professional (Ahem…that would be us!¬†ūüėČ
  3. Choose a top 2 list
  4. Place an offer on #1
  5. Be prepared for a counter offer
  6. Sign and execute the purchase contract
  7. Take note of the dates in the contract to comply with all deadlines (your real estate professional will help keep you on track!)
  8. Order inspections and negotiate repairs
  9. Terminate or proceed with the contract
  10. After final loan approval, go to closing to sign, pick up your keys and own your new home!

In addition to the 10 steps to buying a home you will need to consider the following estimated up-front costs in order to determine if you have the appropriate cash reserves to get started:

  • Earnest money – typically 1% of sales price – the amount of earnest money is negotiable and varies with the value of the property
  • Inspection fee – $400 – $450
  • Appraisal¬†– $325 – $425
  • Credit report – $75