Buyers

What Buyer's Need To Know
The Buying Process Timeline
Step 1:
Find a realtor you can trust
Step 2:
Analyze your needs in a consultation
Step 3:
Obtain financial pre-qualification and pre-approval
Step 4:
Select properties
Step 5:
View properties
Step 6:
Write an offer to purchase
Earnest Money Deposit
(EMD)
Step 7:
You and your agent will negotiate the offer and counter offers with the seller's agent.
Step 8:
Accept the contract
Schedule all
Inspections
Step 9:
Lender will work on getting you approved for the loan by ordering the following:
Credit Report
Appraisal
Verifications
Step 10:
Secure Underwriting
Rejection
Conditions
Step 11:
Schedule termite & survey
Step 12:
Title company will reach out to you for additional information and schedule a settlement date.
Title Exam & Title Insurance
Step 13:
Obtain Home Owner's Insurance
Step 14:
Close on property
Step 15:
Move In!
Money Needed Up Front
-
Earnest Money Deposit
-
Inspection Fee
-
Appraisal
-
Credit Report
Tips When Buying A Home
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Do not make large purchases
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Improve your credit if needed
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Save up for a large deposit
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Interview more than one Realtor
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Get pre-approved for your home loan
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Get a survey done on your property line to avoid a dispute in the future
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Do not try and time the market - buy when it is comfortable for you
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Be aware of sleeper costs - property taxes and/or increases, utilities, HOA dues, repairs, maintenance, home insurance
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Manage your emotions- be wise and realize it is an investment.
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Inspect the home from top to bottom before buying it. Would you buy a car without looking under the hood?
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Place an offer that you can comfortably afford and what is fair market value.
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Get comfortable with the neighborhood before hand. Drive by different times of the day to see what goes on.
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Have a check list of the features you want in your home
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Bigger is not always better - If you plan to sell the home it may limit the potential buyers