10 Steps to Buying a Home
If you’re ready to buy a home, here is a quick guide that breaks down the process of buying a home into 10 easy to understand steps. Of course, the actual process is a bit more complex, but this guide will give you a basic understanding of what to expect!
Hire a professional Realtor. I can’t stress this enough! A home is often one of the biggest investments a person will make in their lifetime. Hiring a professional realtor to help you understand the contracts you are signing is extremely important. If you hire me, I will have your best interests in mind throughout the entire process!
Pre-approval from a (good) Lender. Seller’s want to be sure you will get your loan. For more information on choosing the right lender, check out my blog: How to Choose a Lender.
Preview Homes. We will head out together to look at homes. Some homes you might see on your own during open houses. Either way, it’s important to discuss and discover what you are looking for in a home. This stage can take one weekend, or a year. It really depends. Remember, I will never rush you to buy! Your timeline is my timeline.
Pre-Inspection/Inspection of Property. When you have found a place you really like, you’ll want to make sure it’s solid. Whether you are pre-inspecting for a competitive home, or inspecting with a contingency in place, a thorough and complete inspection is always a good idea.
Make an Offer. It’s not just about the money, it’s about the details. I will assist you to make the strongest offer possible.
Negotiate with the Seller. Here’s where I can really shine. Believe it or not, the highest offer doesn’t always win.
Contract Accepted! Hooray! They like your offer! I will keep an eye on timelines and communicate with all parties for a smooth transaction.
Appraisal for Financing. If getting a loan, your lender needs to be sure the property is valued around the sales price.
Underwriter Approval. Your loan has been approved! Underwriters will look at your finances with a fine tooth comb. This is why it’s so important not to make large purchases, open new credit cards, or change employment during a transaction. Once your loan is approved, it’s time to sign at Escrow.
Closing and Possession. The documents are sent to the county for recording and…it’s your HOME!
There you have it! This process could look a bit different if you live on the East Coast, but this is the general outline here in the Seattle area. If you’d like to schedule a meeting to set up your home search, please contact me. I’m always happy to meet with new clients.
Cheers,
Amy
