The Process of Buying a Home

Whether you’re a first time homebuyer or this is the last home you plan to purchase, the following steps will help make the process as smooth as possible.

  1. Get pre-approved for a mortgage. Talk with several lenders. A good interest rate is important, but it is also critical you trust your lender to complete the process on time and without added stress to you. Laura and Cindy can recommend lenders that have a solid reputation and great customer service.
  2. Interview agents. A buyer’s agent costs you nothing and gives you the advantage of having someone who represents your interests, not the interests of the seller. Cindy has earned the Accredited Buyer Representative designation.
  3. Make a list of needs and wants for your new home. What do you like about where you live now and what would you like to change? What location is important to you?
  4. Begin house hunting. Together, you and your agent will assemble a list of the top homes to visit in person. Laura and Cindy will make appointments with the listing agent for showings.
  5. When you find your home, make an offer. Be prepared to put down earnest money, along with your pre-approval letter from your lender.
  6. Negotiate the purchase price to form a fair and reasonable contract. Other items that are negotiable: closing date, appliances that remain with the home, closing costs and a home warranty are the most common.
  7. Secure your loan within 5 days of your binding contract. This involves getting the requested documents to your lender in a timely manner.
  8. A home inspection will take place within 10 days of the binding contract. This includes a termite inspection.
  9. Negotiate the necessary repairs with the seller based on the home inspection.  The seller will make repairs prior to closing.
  10. Prepare for closing by purchasing homeowner’s insurance, transferring utilities to your name and having your funds available for the down payment and closing costs.  One note of caution: do not make any purchases, small or large, that may affect your credit.  A final credit check is often done prior to closing.  Buying new furniture for your home may cause your loan to be denied.
  11. Take a final walk through the home, usually the day before closing.
  12. Close on your new home and get your keys!