Buying a home will be one of the most important investments you will make in your lifetime. Knowing what to expect can help you feel at ease and make the home buying process go much more smoothly.

Step #1 – Find a REALTOR

One of the most important decisions you will make during the home buying process, is finding a Realtor. Your Realtor is your connection to all working parts of this transaction, and will serve as your guide on your journey home. When selecting a Realtor, ensure they are honest, reliable, knowledgeable, trustworthy, and responsive. When meeting with your Realtor, they will ask you to sign a buyer’s agreement, which gives them permission to get to work for you. It is your Realtor’s job to work diligently behind the scenes to ensure your transaction goes smoothly, so that you can live your life.

Step #2 – Find a Loan Officer

The next step is to contact a Loan Officer who will help you complete your application and provide you a “Pre-Approval Letter”. This is simply a statement from the Lender that they stand ready to finance your home purchase, subject to standard terms and conditions. It’s a short statement, but has become one of the most important steps in buying a home. It shows all parties involved that, if you find a home you love, you are willing and able to complete the purchase transaction. The pre-approval letter will also provide you with a clear understanding of how much home you are comfortable with purchasing.

Step #3 – Shop for a Home

Now the fun part starts! With your pre-approval letter in hand and your personal home buying budget in mind, it’s time to start searching for your dream home! Keep in mind that this process could take days, weeks or months, depending on your needs and the market. Just remember to remain patient, the right home for you is out there. If you see a home you want to visit, contact your Realtor immediately to make a showing appointment. While visiting a home, be sure to take notes about what you like and don’t like.

Step #4 – Make an Offer They Can’t Refuse

Once you’ve found the home of your dreams, it’s time to make an offer. Unfortunately, it’s not as easy as saying “I’ll take it!” This is a contractual process and you will have to review and sign multiple documents. When you are ready to write an offer, you and your Realtor will review the disclosures of the home, review comparable sales in the area to determine offer price, discuss any contingencies you would like to include and write up the contract. Your Realtor will review all the documents with you, explain what they mean, and ensure that your interests are being protected throughout the process.

Step # 5 – Your offer has been accepted. Now what?

Your Realtor will let you know when your offer is accepted by the seller. Having a well-organized Realtor is key during this part of the process, as there are many deadlines that could cost you money or void your contract if missed. Every home and every person’s circumstances are unique, so the list of items will vary from transaction to transaction, but it could include reviewing HOA documents, scheduling a home inspection, securing financing, completing a radon test, or receiving an appraisal, for example. Your Realtor should keep you informed of all of the items that need to be reviewed and completed, and keep you on track to consummate the transaction on the agreed upon settlement date.

Step #6 – Final Walkthrough

Prior to closing, you and your Realtor will visit the home to ensure the repairs related to the home inspection have been completed, and no other damage has been done to the home while the sellers were moving out. If all is good, settlement will proceed as scheduled. If there are any concerns, your Realtor will coordinate with the listing agent to ensure your issues are addressed prior to settlement.

Step #7 – It’s Closing Day!

Rest up your writing hand, because at closing you will be signing a LOT of paperwork. The entire process typically takes between 45 minutes and a hour and a half. Take comfort that this is the last step between you and your new home. Make sure to bring your ID, your closing check, and a calm demeanor. Once the last signature has been signed and the checks exchanged, you will be handed the keys to your new home!