How Buying a Home Works

  1.  PARTNER WITH AN AGENT    

• Absorb their local insight  
• Get to know neighborhood inventory levels  
• See what's about to hit the market  
• Gain access to off-market properties  
• Review market averages  
• Complete needs assessment 

2.  GET PRE-APPROVED FOR A LOAN  

• Understand what you can afford  
• Determine your monthly mortgage payment  
• Understand your debt ratio  
• Prepare for escrow  
• Obtain a pre-approval letter 

3.  FIND YOUR NEW HOME  

• Compare home and neighborhood averages, then narrow down the neighborhoods you want to live in  
• Favorite homes and save them to collections  
• Nix homes that don't meet the mark  
• Schedule home tours and plan an itinerary with your agent  
• Decide on your dream home 

4.  MAKE YOUR OFFER AND NEGOTIATE THE TERMS  

• Review contract terms and time limit for offer  
• Negotiate purchase price  
• Choose a title company  
• Shop home insurance options  
• Prepare for down payment, earnest money  
• Choose a target closing date  
• Sign the offer  
• Deliver escrow check  
• Stay in close contact with your agent

5.  UNDER CONTRACT  

• Secure a home loan *more details to follow  
• Acquire home insurance and send proof to your lender.   
• Request a list of what conveys with the property  
• Schedule home inspection and negotiate repairs  
• Order an appraisal  
• Acquire a property disclosure from the seller  
• Neutralize any contingencies. [input any contingencies that may be specific to your area] 
• Conduct a title search  
• Choose your title company  
• Schedule your closing  
• Solidify both contract effective date and allowable move-in dates  
• Certify funds for closing  
• Stay in close contact with your agent, lender, and title company

6.  BEFORE YOU CLOSE  

• Transfer funds for closing  
• Reserve a moving company and set a moving date 
• Change your address through USPS, your bank, and other instances    
• Set up your utilities to be activated or transferred  
• Confirm that all contingencies are resolved  
• Schedule the final property walk-through  
• Designate a safe, dedicated space to save your final paperwork  
• Stay in close contact with your agent, lender, and title company 

7.  CLOSING DAY: WHAT TO BRING  

• Connect with your lender to wire down payment funds. You'll need to cover the cost of closing and the down payment. Bring a printed confirmation of your wire transfer  Government-issued photo ID(s)  
• Social Security numbers  
• Home addresses from the last 10 years  Proof of homeowner's insurance  
• Your copy of the contract  
• Your checkbook

 8. CLOSING DAY  

• Sign closing disclosure, promissory note, and all other documentation 
• Title transfer 
• Deed delivery 
• Save your paperwork in your pre-designated spot  
• Get your keys - congrats, it's all yours