Ten Steps to Buying a Home

1. Contact a Mortgage Broker or Bank and ask to be pre-qualified for a loan, and what projected closing costs may be. This ensures both you and your Realtor that you're looking at properties in the appropriate price range, and that you won't be "devastated" by falling in love with something out-of-reach financially.
   
   
2. Select one experienced Realtor with whom you feel comfortable and confident.
   
   
3. Ask your Realtor to explain the concept of Buyer's Agency and consider whether you want your Realtor to represent you as a buyer's agent. Perhaps you will decide to spend a day together first, looking at properties and getting to know each other.
   
   
4. Search for your home, guided by your agent who knows the existing home inventory and has access to many multiple listing services. Be honest about your reactions to properties you are shown, so the agent can "fine tune" the search and help you zero in on the best possible choice for you.
   
   
5. When you find the right home, your Realtor will write up and present a purchase offer for you, and will help present offers and terms until you and the seller have a "meeting of minds" meaning the two of you have agreed to all terms of the contract.
   
   
6. Copies of the contract are forwarded to your lawyer and the bank. Your Realtor will help set up other needed appointments such as those for a mortgage appraisal, home inspection, and other tests that may be required or desirable.
   
   
7. Your attorney and the bank attorneys complete all legal work such as a title search, and then set a closing date.
   
   
8. The bank will tell you how much home insurance coverage you need. Arrange to a secure a policy before the closing and bring the paperwork to the closing.
   
   
9. To make sure nothing has changed, your Realtor will walk you through the home just before closing.
   
   
10. Go to the closing...and the home is yours to enjoy!