Buying Basics

HOME BUYING SIMPLIFIED

Real Estate Buying Basics

Get Pre-Approved
Assemble Your Team
Submit an Offer
Complete Paperwork
Finalize at Closing

How Much Can I Afford

  • Consult with a trusted mortgage professional.
  • Determine your down payment.
  • Run the numbers in mortgage calculators.
  • Define the type of loan you need.

Know the Players on Your Home Buying Team

The home buying process has multiple steps and participating parties. Make sure you have the right team on your side.

  • Agent.
  • Appraiser.
  • Title Company.
  • Home Inspector.
  • Insurance Agent.
  • Lender.

Submitting Your Purchase Offer

Your agent will help you submit your purchase offer assuming you are pre-qualified and committed to purchasing a home. The purchase offer will include a Residential Sales Contract and any number of addendum’s, contingencies, or disclosures. Here are some of the common attachments:

  • Conventional Financing Addendum.
  • Home Inspection Contigency.
  • Escalation Addendum.
  • Lead-Based Paint Sales Disclosure.

Conditions and Paperwork

At this point all parties involved will begin to provide their paperwork.

  • Lenders.
  • Processors.
  • Insurance Agents.
  • Sellers.

Successful Closing

A successful closing requires all parties to come together on the same date and, most importantly, with numbers that match.