This page is intended to provide Home Buyers with a general Road Map of the buying process from the point of meeting with a Realtor through entering into a Purchase Contract.
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
GET PRE-APPROVAL FOR A LOAN (unless you will fund with all cash)
- Meet with a lender
- Understand what you can afford
- Determine your monthly mortgage payment
- Understand your debt ratio
- Prepare for escrow
- Obtain a pre-approval letter
FIND YOUR NEW HOME
- Compare home and neighborhood averages, then narrow down the neighborhoods you want to live in
- Keep track of favorite homes; under consideration
- Eliminate homes that don’t meet your needs and desires
- Schedule home tours with your agent
- Decide on your dream home
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
- Stay in close contact with your agent
