How to
Buy a House

What to Expect When House Buying

It is almost a rite of passage to go through the process of buying a house, but many first-time homebuyers are unfamiliar with the process and what to expect. There are many steps to buying a home, and you will want to go over them in detail with a reliable agent. If you are just starting on the road to homeownership, this mini-guide may help.

Home Buying is a Process

Get Pre-Approved and Start Searching

Either through your agent or a home mortgage lender, get pre-approved for a home loan so you know what your home budget is. Your pre-approved loan amount can help you narrow down which houses you can afford. Consider searching for homes that are both slightly above and below your loan amount as you may be able to haggle on the final price.

Place an Offer and Perform Due Diligence

Get your offer in quickly for the home you want. Once a seller accepts your offer, you need to perform due diligence. This means paying to have the home inspected and, if necessary, tested. You will want to address any concerns with the homeowner before proceeding. You may also be able to back out of the offer at this time if something doesn’t check out.

Protect Your Investment with Title Insurance

After finalizing your due diligence inspections, get a title agency to inspect the home’s title. This will ensure there are no existing liens or other legal issues such as other claims to the title. You may also want to invest in real estate title insurance in case an unexpected claim does surface later. The insurance company will help protect your investment.

Get Help from a Professional

Once the papers are signed and you have the keys, you are now ready to enjoy all the benefits of being a homeowner. The process can seem complicated at first glance, but if you know what to expect before diving in, you can sail through the process like a seasoned buyer. It’s always wise to have a professional on your side throughout the buying experience.