If you’re a first time home buyer, or if it’s been years since you’ve purchased a home, you may be in the dark about the process. Over the years mortgage and real estate practices evolve and change which has often improved procedures.
Here are the typical steps one goes through when buying a home:
- Get pre-qualified by a reputable mortgage banker.
- Contact an experienced real estate agent.
- You and your realtor search for homes.
- Make an offer on a home and wait for acceptance.
- The home is inspected by a licensed home inspector.
- You decide on what repairs, if any, need to be done.
- The seller offers to make some or all of the repairs.
- An appraiser will estimate the value of the property.
- You will received final loan approval from your lender.
- Final walk through to check on repairs.
- Close of Escrow.
- Moving day!