Steps to Owning a Home

Buying a home is an exciting time, but the homebuying process can also be complex. Many factors affect how long the purchasing process actually takes, but there are a few steps that are universal in most home purchases:

1. Decide if you’re ready: determine your financial readiness and become a good mortgage candidate.
2. Get a pre-approval letter and set your budget: a pre-approval letter tells sellers that a lender believes you qualify for a specific mortgage, thus speaking to your buying power.  >>Click here to start the pre-approval process.<<
3. Decide on a property: Our team of licensed real estate agents will help you narrow down potential properties after you determine your budget and what you really want in a home.
4. Make an offer: Your budget isn’t just about price; you can also negotiate necessary repairs, which party pays for closing costs and other items.

You made an offer on a home and the seller has accepted. There are still some steps to complete before you can close the transaction and move in.

1. Sign a purchase agreement: Also called a sales contract, this document outlines the details of the sale and is held by your escrow officer until the transaction closes.
2. Inspect the home: You may wish to schedule a buyer’s home inspection, wherein you can get a professional opinion of the condition of the home.
3. Check repairs and prepare to close: A final walk-through of the home will help you make sure that agreed-upon repairs were made and other items in the purchase agreement were fulfilled.
4. Close the transaction: At closing, your lender may require you to purchase homeowners insurance. This is also when you can purchase an owner’s policy of title insurance, which will help protect you from past issues that could affect your ownership rights.