What Are the Steps to Buying a Home?

Determine your budget and decide how much you can afford to spend on a home. Look at your credit score and try to improve it if necessary. Create a financial plan that includes a down payment, closing costs, and monthly mortgage payments.

Obtain pre-approval from a lender to determine how much you can afford to borrow. This involves submitting your financial information, such as income and debts, to the lender for review. Pre-approval will also help you identify any potential issues that may need to be addressed before closing.

Search for homes within your budget that meet your needs and preferences. Attend open houses and schedule viewings with your real estate agent. Keep in mind factors such as location, size, and condition of the property.

When you find the right home, make an offer with your real estate agent. Your offer should include the purchase price, any contingencies, and a closing date. The seller can accept, reject, or counter your offer. Here’s where working with an experienced realtor can give you the upper hand. Different market conditions require a different approach – a seller’s market might mean lots of competition, requiring you to come in at or over asking price with few to no conditions, while a buyer’s market means you have choice and time is on your side. Lean on your agent on how to best handle the situation. 

Once your offer is accepted, schedule a home inspection to ensure the property is in good condition. The inspector will check for any potential issues, such as structural problems or water damage, and provide a report.

The duration for finalizing your transaction is typically 90 days, but may vary depending on the terms agreed upon in the Agreement of Purchase and Sale. It's important for the homebuyer to fulfill certain obligations during this waiting period. Once the offer is accepted, there's a limited time frame to complete necessary tasks related to offer conditions, such as home inspection and securing financing. Your mortgage lender will require a copy of the offer to ensure it aligns with your pre-approved financing level. Once any necessary repairs or adjustments are made to your satisfaction, your Realtor will finalize the deal, and your lawyer will process the paperwork, including mortgage documents with your lender. All these steps will lead to a final legal possession date, which is the actual closing day.

We highly value our customers' experience and our services are designed to address first and foremost your needs. We understand that selling a home may be a difficult and stressful experience, so our goal is to turn this experience into a pleasant one. We are professional real-estate team that has a solid understanding of the market conditions and we have a wide marketing network for your listing.