The Process of Buying a Home

The Process of Buying a Home

Buying a house can be an exciting time. However, it is also known to be a very stressful, tedious process. Many who do not have home buying experience may feel lost and confused. To prevent you from this struggle, we have put together a list of what to do when buying a home. By taking advantage of this article, you will be properly informed of all things house buying and will aid you in making the right choice.

The first thing anyone should do when thinking about buying a home is research. Look up homes in your area of interest and get a feel for the average asking prices. Be sure to write down the houses you are drawn to and keep an eye on them to see if there are any changes in price. When doing this, you should of course determine the price range you can afford.

After you’ve done some basic research, you then want to get prequalified for a mortgage with your mortgage banker by sending in some financial data. By getting prequalified, you will be able to see the price range you should be looking in. Once you’ve done this, and have acquired a real estate agent, it is time to start making offers on homes. When viewing houses, it would be wise to take note of everything, and pictures is a great way of doing so.

Following an agreement between buyer and seller, a home inspection should be scheduled to make sure there are no issues or damage. By doing this, you will have the option to withdraw your offer, or renegotiate if the inspection were to reveal anything. You will then work with a Mortgage banker, select a loan, and get the home appraised. The appraiser will give an estimated value of the house.

Once these steps are complete, all that needs to be done is close the sale, along with some paper work. Afterwards, the home is officially yours.

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