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What are the next steps

Question : Deciding If Buying A Home Is Right For You Is The Most Important And Very First Step

Steps in Buying a Home


  1. Most important first step is getting pre-qualified / pre-approved for a mortgage.  Although this may seem backwards, it is the key to a successful search.  This will give you a range for your search criteria.  Think about how you would feel looking at $300,000 homes, finding the one you love and then finding out your qualified up to $250,000.  Your dissapointed, no home you look at after this one will meet your expectations, all the time and energy you have wasted in looking at homes that are outsiide your budget.  Not to mention most Real Estate Professionals will not put you in the car without a pre-approval letter.
  2. Come up with a down payment – usually 15-20 percent of that price for conventiional. (This is the hard part.) 3.5% for FHA, as little as 0%  for VA, 10% on Seller Finance and 10% on Lease / Purchase (special program 3 year lease to purchase) .  Without a down payment, you don’t own even a piece of the house. The bank owns the whole thing.
  3. Find a Real Estate Professional not just a Real Estate Agent - there is a difference
  4. Remember to be realistic - keep inside your budget - nothing is FREE you need to negotiate - just because you don't hear from your Realtor doesn't mean they are not working - save all your questions put the in an email to send once a day.
  5. Listen to the advice you are given
  6. Never buy the first home - buy the right home
  7. Negotiate well
  8. Once the contract is signed - Title - Lender - Inspector - Insurance - Pest Control - Underwriter - Appraiser all get involved.  None really talk to each other so be sure your Realtor is the facilitator.
  9. Keep on top of your lender - be sure they have everything they need twice a week until close starting from the day the contract is signed.
  10. Remember tp get your utilities turned on and off
  11. Bring all necessary doc's to the closing table and be sure you are there on time.
  12. Collect the keys to your new home