What are the steps in buying a home? Below are the very basic steps to help you achieve your dream of being a homeowner. Though it might seem a little overwhelming — which it can be — having an experienced team on your side to guide you and handle a lot of the red tape makes a world of difference.
Quick guide to buying a home
STEP 1: PRE-APPROVAL
This is a very important step because sellers will not grant you access without this. Preliminary documents include: W-2s, pay stubs & bank statements. You can go to any bank of your choice or we can recommend trusted mortgage bankers who have a lot of experience.
STEP 2: FIND A HOME
Assess your wants and needs, then let your realtor help you find the perfect home to fit your lifestyle.
STEP 3: MAKE AN OFFER
Offer accepted, sign binder, schedule inspection and send inspection to your real estate attorney.
STEP 4: CONTRACT
Review and sign your contract with your real estate attorney.
STEP 5: CLEAR TO CLOSE
You and your attorney are notified that your file is clear to close and a closing date will be scheduled by the attorneys with a bank attorney.
STEP 6: FINAL REVIEW
Submit all closing conditions noted on a commitment letter for final clearance.
STEP 7: HOMEOWNERS INSURANCE POLICY
Copy of appraisal and mortgage clause provided to you to secure a Homeowners Insurance Policy. Contact insurance agency for details.
STEP 8: TITLE REPORT
Submit the information to the insurance agency settlement agent for review and clearance.
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