THE BUYING PROCESS

How Buying a Home Works

  • 1. PARTNER WITH AN AGENT
    • Absorb their local insight
    • Get to know neighborhood inventory levels
    • See what's about to hit the market
    • Gain access to off-market properties
    • Review market averages
    • Complete needs assessment
  • 2. GET PRE-APPROVED FOR A LOAN
    • Understand what you can afford
    • Determine your monthly mortgage payment
    • Understand your debt ratio
    • Prepare for escrow
    • Obtain a pre-approval letter
  • 3. FIND YOUR NEW HOME
    • Compare home and neighborhood averages, then narrow down the neighborhoods you want to live in
    • Favorite homes and save them to collections
    • Nix homes that don't meet the mark
    • Schedule home tours and plan an
      itinerary with your agent
    • Decide on your dream home 
  • 4. MAKE YOUR OFFER AND NEGOTIATE THE TERMS
    • Review contract terms and time limit to offer
    • Negotiate purchase price
    • Choose a title company
    • Shop home insurance options
    • Prepare for downpayment, earnest money
    • Choose a target closing date
    • Sign the offer
    • Delive escrow check
    • Stay in close contact with your agent. 
  • 5. UNDER CONTRACT
    • Secure a home loan more details to follow
    • Acquire home insurance and send proof to your lender. Keller Covered streamlines finding the best insurance to fit your needs
    • Request a list of what conveys with the property
    • Schedule a home inspection and negotiate repairs
    • Acquire a property disclosure from the seller
    • Order an appraisal
    • Neutralize contingencies. Input any contingencies that may be specific to your area.
    • Conduct a title search
    • Choose your title company
    • Scheule your closing
    • Solidify both contract effective and allowable move-in dates
    • Certify funds for closing
    • Stay in close contact with your agent, lender, and title company
  • 6. BEFORE YOU CLOSE
    • Transfer funds for closing
    • Reserve a moving company and set a moving date
    • Change your address through USPS, your bank, and other instances
    • Set up your utilities to be activated or transferred
    • Confirm that all contingencies are resolved
    • Schedule the final property walk-through
    • Designate a safe, dedicated space to save your final paperwork
    • Stay in close contact with your agent, lender, and title company
  • 7. CLOSING DAY: WHAT TO BRING
    • Connect with your lender to wire down payment funds. You'll need to cover the cost of closing and downpayment. Bring a printed confirmation of your wire transfer.
    • Government-issued photo IDs
    • Social Security Numbers
    • Home address from the last 10 years
    • Proof of homeowner's insurance
    • Your copy of the contract
    • your checkbook
  • 8. CLOSING DAY
    • Sign closing disclosure, promissory note, and all other documentation
    • Title transfer
    • Deed delivery
    • Save your paperwork in your pre-designated spot
    • Get your keys, congrats, it's all yours!
Share by: