I’ve decided to buy, now what?

Congratulations on the decision to purchase a home!  You’ve made the first step, now what?

Home Buying Process

  1. Consult your Realtor.  Don’t have a Realtor?  Email me.  I have an extensive network of excellent Realtors with whom I’d be happy to put you in touch.
  2. Speak with a lender.  Your Realtor may require that you’re pre-approved before going to look at homes.  Why?  Two reasons.  First, falling in love with a beautiful home only to find that it’s unrealistic stinks!  Second, in a strong market, often sellers require buyers be pre-approved.  We don’t want you to miss out on your dream home because you had to wait till Monday to get pre-approved and could not submit an offer.
  3. Start the search!  In looking at homes, the more honest you are in discussing your likes and dislikes, the better your Realtor will be able to meet your needs.
  4. You’ve found the home!
  5. Offer to Purchase.  Your Realtor will discuss your price, terms, and conditions and will submit an offer to purchase.
  6. Negotiations. If your offer is accepted, you skip the negotiations step.  If the seller presents a counter offer, you and your Realtor will discuss the counter and negotiate until an agreement is reached.
  7. Offer accepted!  Or go back to #3, but hopefully not!
  8. Due Diligence period begins.  Your agent will help you coordinate inspections, a survey, obtaining insurance, selecting a closing attorney, and applying for a loan (if not a cash offer).  The lender will order an appraisal, the closing attorney will complete a title search, the loan application will go to underwriting, and be approved or declined.
  9. Negotiate repairs.  Negotiate any repairs that came up during the inspection, survey, or appraisal.
  10. Schedule a closing date
  11. Final Walkthrough
  12. Closing day!  Deed is recorded, possession is transferred, the home is yours!  Congratulations!

This may sound complicated, but a good Realtor with clear communication and expectations can make this a relatively painless process.  After closing, your Realtor can be a wealth of information about anything from a good lawn service to restaurant recommendations to maximizing your renovation budget.  You just need to ask!

Published by

Taylor Anderson

Taylor Anderson is a Residential Real Estate Broker/Realtor in Cary, NC and the surrounding areas. With a background in investment real estate, Taylor believes every real estate transaction is an investment. Minimizing risk while maximizing returns through an analysis of current market data yields wise investments and more importantly, knowledgable homeowners and investors. This resale-centric approach continues to encourage astute purchases for families and investors alike.

One thought on “I’ve decided to buy, now what?”

  1. I love this blog!! Valuable information, written in laymans terms and offers something that many people are looking for but can’t easily find. Taylor has our best interests at heart and that is priceless!

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