Buying your first home is a huge part of the American Dream — and is also a daunting, potentially overwhelming process. Here’s how to get started and what to expect along the way.
Keep your eyes open while shopping
10. Ask HOA Questions
HOAs aren’t everywhere, but if you buy a house in an area with an HOA, you need to understand it.
11. Know What’s Fixable and What’s Not
Before you decide to take a hard pass on a place, know whether the things you hate about it are easily fixed.
12. Be Aware of the Market
If most buyers in the area are making offers over listing price, that’s information you’ll need to be competitive with your offer.
13. Figure Out Where You Have Room To Negotiate
Timing, rent-back situations, and other concessions can sweeten the deal for the seller.
Take it to the finish line
14. Find a Home You Love
We’re at the home stretch! Now you’re ready to start seriously shopping — because you can make an offer immediately.
15. Make a Competitive Offer
A top real estate agent can help you determine where to hold firm and where to negotiate.
16. Appraisal and Inspection
If you’re getting a mortgage loan, the house will likely need to be both appraised (valued) and inspected before you can close.
17. Title Search
A title company or attorney will look for any outstanding liens or ownership anomalies surrounding the home. (Consider purchasing title insurance.)
18. Underwriting
The mortgage loan (if you’re getting one) will only be issued after all your documents have been underwritten; the underwriter looks for any issues with debts, taxes, etc.
19. Closing
Today is the day you get your keys! Bring a cashier’s check or checks with your down payment and any other closing costs, and get ready to sign some paperwork. Congratulations!
Ready to start your homebuying journey? Let us work for you!
