Tag: home buying process

The Home Buying Process

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Ideally you will seek the advice of a real estate agent knowledgeable of the market conditions in the neighborhood you are interested in, but in general, these are the following steps in the home buying process:

  1. Work with your real estate agent to evaluate your needs.
  2. Obtain pre-qualification to determine a price range.
  3. View selected homes in your price range.
  4. Write an offer.
  5. Negotiate and counter-offer.
  6. Accept the contract terms upon inspection and removing contingencies.
  7. Your agent can work with your broker to complete the mortgage approval process and underwriting, i.e., appraisals.
  8. A termite inspection is done and a survey is ordered.
  9. A title company will perform a title examination of the property.
  10. A final walk-through of the house is completed prior to settlement.
  11. Close on the property.
  12. Take possession of your new home.

The time it takes to complete the process can vary. Negotiation and counter-offering may take some time, and after a home inspection, there may be more negotiation to resolve any issues that surface.

Categories: Buying

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