Home Buying Steps

Buying a home is a complex process that involves several steps. Here's a general list of things buyers should do from start to finish when purchasing a home:

1. **Assess Finances:**

- Review credit score and history.
- Calculate the amount you can afford using online calculators or consulting with a financial advisor.
- Save for a down payment.

2. **Get Pre-approved for a Mortgage:**

- Choose a lender or mortgage broker.
- Submit financial documentation.
- Receive pre-approval letter indicating the amount you're qualified to borrow.

3. **Research and Choose a Location:**

- Consider factors such as commute, schools, amenities, and safety.
- Visit potential neighborhoods at different times of the day.

4. **Hire a Real Estate Agent:**

- Research and interview potential agents.
- Sign a buyer's agreement.

5. **Begin House Hunting:**

- Make a wish list of desired features.
- Tour homes with your agent.
- Attend open houses (if asked to sign-in, do so with your agent’s information so there is no confusion, and/or make sure to tell them who you are already working with).

6. **Make an Offer:**

- Discuss a fair offer with your real estate agent.
- Submit the offer in writing.
- Negotiate terms if necessary.

7. **Home Inspection:**

- Hire a professional home inspector.
- Review the inspection report for potential problems.
- Negotiate repairs or credits with the seller based on the report.

8. **Finalize Mortgage Application:**

- Submit any additional documentation requested by the lender.
- Wait for the mortgage to be underwritten and approved.

9. **Order a Property Appraisal:**

- The lender will typically order this to ensure the property's value meets or exceeds the purchase price.

10. **Obtain Homeowners Insurance:**

- Shop around for quotes.
- Choose a policy and provide proof to your lender.

11. **Title Search and Insurance:**

- Ensure the property doesn't have any liens or disputes.
- Title insurance protects against potential ownership disputes in the future.

12. **Pre-Closing**

- Update your address with relevant institutions (e.g., post office, bank).
- Set up the Utilities to ensure everything is on/operating, and in your name, on the date of closing.
- Schedule and coordinate the move.

13. **Final Walkthrough:**

- Visit the home shortly before closing to ensure it's in the agreed-upon condition.

14. **Closing:**

- Review and sign all closing documents.
- Pay closing costs and down payment.
- Receive keys to your new home!

15. **Move-In:**.

- Familiarize yourself with the home's systems and any maintenance requirements.

16. **Celebrate:**

- You're now a homeowner! Enjoy your new home.
Note: This is a general overview, and steps might vary based on location, specific circumstances, or individual preferences. Always consult with professionals during each phase of the process.