Introduction: Home buying process can be daunting, but with the right information and preparation, it can be a smooth process.
Step 1: Get Pre-Approved for a Mortgage – Unless you are paying cash for a home, you will need to speak to a lender and get a pre-approval for a loan. This is not something that should be done on some internet website. My recommendation would be to get in touch with a local brick and mortar lender. Someone who is familiar with the local area where you are looking to purchase. When you submit an offer on a property, listing agents will call your lender, and they expect competence and credibility.
Step 2: Find the Right Home – This is where you and your real estate agent will work closely. The more information you give them, the more they can narrow your search and get you the perfect home. Even in the low inventory market of 2022, you can become a home buyer…it happens every day and many times a day.
Step 3: Make an Offer – Offers are complicated today. Here is where you are again going to be working closely with your REALTOR®. If you find yourself in a multiple offer situation, get ready to pay more than you would normally, and to remove as many contingencies as possible. All offers are negotiable and when the buyer and seller come to a meeting of the minds, and everything is signed…it becomes a contract.
Step 4: Get a Home Inspection – Important, important, important. Yes, I know that purchasing a home in 2022 is challenging and many sellers are expecting you to waive a home inspection. My recommendation is that you dont.
Step 5: Close on the Home – This is the day that everyone looks for when purchasing a home. However long it took you to get to this point, you will soon be sitting, living, laughing and loving in your own home. Even your real estate agent will no longer be calling it a house, because now it’s become a home. Congratulations!