Purchasing a home is thrilling, but it can be daunting if you don’t know how to begin. By dividing it into three far more digestible phases, you’ll tackle this task more confidently and easily. Here’s how to make your homeownership dream possible.
 

Phase 1: Getting Started

• Choose a Realtor
  The first step should be finding a qualified real estate agent who understands your needs and the local market. Your Realtor will be the guide and advocate you need during the process.
• Pre-Qualify for a Loan
  On both accounts, before you begin your house hunt, you should have already taken the time to work with a lender and pre-qualify for a loan. This step sets the parameters of your budget and demonstrates to sellers that you’re a serious buyer.
• Find Your Dream Home
  Work with your Realtor to tour neighborhoods and properties that appropriately align with your lifestyle and financial goals. Yes, this is the fun part!
• Negotiate the Contract
  Once you’ve discovered your ideal home, your Realtor will negotiate the terms of the contract — getting you the best deal possible.

Middle Phase: Inspections and Loan Process

• Top of their “to-do” list: Bring Deposit to Title Company
  Deposit your money with the title company securely, as good-faith money. This indicates to the seller that you’re serious about going through with the purchase.
• Complete Inspections
  So, if you pay for an inspection and the home is in good condition:
  • Home Inspection: A detailed inspection of the property’s structure and systems.
  • Wind Mitigation: Assess the house’s resistance to wind damage.
  • Pest Inspection: Look for termites or other pests.
  • Pool Inspection (if you have one): Make sure the pool is operating correctly.
• Complete Loan Application
  As you work with your lender, be sure to submit all required documentation for your loan application. So accuracy and timeliness are critical at this juncture.
• Launch the Appraisal
  Your lender will order an appraisal to get a sense of how much the home is worth. This ensures the property is a good value for the amount of loan.
• Loan Approval
  After reviewing all of that paperwork, your loan will be approved, and you’ll move one step closer to closing.
• Request Repairs
  Ask for any needed repairs based on inspection results. Ensure all fixes that were agreed to have been completed before proceeding.

Last Phase: Closure & Move-In

• Shop for Home Insurance
  Shop around and customize your coverage: Compare policies and choose a home insurance company that fits your needs and your budget.
• Pre-Closing Walkthrough
  Before closing, schedule a final walkthrough of the home to make sure it’s in the expected condition.
• Review Closing Documents
  Thoroughly read through all closing documents to know the terms involved with your purchase and the costs involved.
• Signing of Documents
  During closing, sign the documents needed to complete the sale and transfer ownership.
• Welcome Home!
  Congratulations! The keys have been handed over, and now it’s time to move into your new home. Beat this milestone and create memories.

 
By following these three steps, you’ll streamline the home-buying process and eliminate added drama. Begin your journey today with the first step towards your dream home!