10 Steps in Buying a Home

Posted by Tim Ryan on Thursday, June 14th, 2012 at 4:13pm.

When you know the 10 steps in buying a home, you can sail through the house buying experience. There are many variables, and the process can be complex. It is important that your interests and investment is protected and that you have the best representation. Below is a list of the 10 steps in buying a home.

10 Steps in Buying a Home

1. Find the best agent! This may sound simple, but, the process can be tedious. You should choose an area specialist in the area that you’d like to purchase. Find out all the particulars about the agent- do they work as a real estate agent full or part-time? How long have they been active in the real estate industry? Does the agent possess a CRS or ABR designation? What is the agent’s system or communication? How comfortable with the agent are you? These are all questions that will influence your choice.

2. Work with your agent. It is important that you and your agent work together. Let your agent know your price range. If you find homes on your own, let your agent know. Work together and you’ll find that you will have a greater opportunity to get what you want.

3. Your price range. Before you set out shopping the market, it is important to know your price range, and don’t waste time looking at homes that are out of your budget.

4. To find the perfect home, you have to know what you want in a home. Do you want three bedrooms? If so, then don’t waste your time with two bedrooms. Do you want an island kitchen? A study? Know what you want and let your agent know.

5. Making an offer. Once you’ve found your dream home, make an offer. Meet with your agent, tell them you’d like to make an offer and follow your agent’s guidelines from there.

6. Home inspection. A home inspection should be a contingency in your purchase outlining the details of your option to have a private home inspection.

7. Apply for your mortgage if you have yet to.

8. Title search, mortgage title insurance, owner’s title insurance, private mortgage insurance and homeowner’s insurance will all need to be done before your lender will approve your mortgage.

9. Just before closing, you will receive a mortgage letter of commitment.

10. On closing day bring the necessary funds with your proper id, homeowner’s insurance and all other documentation your lender requests.

About the Author: Mike Pannell with Nu Home Source Realty - Dallas is one of the premier real estate companies in the Dallas Fort Worth Area. We offer professional end-to-end real estate services in the areas of Pre-Existing Homes, Brand New Homes, Lease-Rental homes, Credit Repair and all other associated real estate services.

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