The 10 Steps of the Home Buying Process - Made Simple

Step 1: Get Pre-qualified - Your lender (the bank, if financing) will work with you to determine how much home you can purchase, what your monthly payment will be and how much money you will need for the entire transaction.

Step 2: Find the Home - Together we will find the perfect home, no matter how many properties we have to look at!

Step 3: Make an Offer - You and I will put together the terms and conditions of your offer. Together, we will negotiate with the seller to reach acceptable terms (price, earnest money, closing date, seller paid costs, etc.).

Step 4: Offer Accepted - Once the seller accepts the terms of the offer, you are now under contract and will enter into an option period. You will typically write 2 checks at this point; one for the earnest money deposit and another for the option fee. The option period is usually 7-10 days (negotiable and can be extended if needed), which gives you time for the appraisal to be completed and the inspection of the home (not required, but highly recommended). 

Step 5: Initial Loan Setup - The lender will setup the loan and review the terms with you.

Step 6: Appraisal Order - The lender (if financing) will order the appraisal and the whole process usually takes up to 7 business days.  

Step 7: Underwriting Review - Underwriter reviews the loan and issues the initial approval.

Step 8: Start Packing - Time to get ready for moving day!

Step 9: Underwriter Issues Final Loan Approval

Step 10: The closing will take place at the chosen title company. The seller will not be present, but I as your agent will be.  

This is the home buying process, in a nutshell. I hope this information was helpful and is valuable to you! Please feel free to contact me with any questions or to start your home buying process (409) 497-6631 | bridgetcollins0613@gmail.com 

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