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Home Buying process 

10 Steps to The Home Buying process 

by Search7Cities Real Estate Group

When you are in the home buying market, knowing what to expect makes everything easier. Buying a house is a unique experience and can be overwhelming at times. But by knowing what to expect and taking it one step at a time, you can learn how to buy a house like an expert, even if it’s your first time buying.

Here is everything you need to know about “How to Buy a House” in ten simple steps:

1.Hire a real estate agent.

Finding a good real estate agent is all-benefits and at no cost to buyer. Having a Real Estate Agent will save you so much time by providing you with a local market specialist. Our Real Estate Agents have access to the Multiple Listing Service which is also know as the MLS. The MLS gives you first glance at what’s for sale in the neighborhood you want at the price you can afford.

At Search7Cities Real Estate Group we are qualified agents who you can trust to work hard for you. We are committed to finding you the perfect home within your budget. We recommend having a list of questions that concern you about the home buying process. We can then assist you in answering all your questions. We will also provide a custom experience to make the purchase of your home a memorable one.

2.Shop for a mortgage.

Compare mortgage rates online and look at the types of mortgages that are available to you. Conventional, FHA, and VA Loans for Service Members are commonly used. Understanding the difference between these will help you figure out how to buy a house that is right for you. If you are unsure of where to start, we can connect you with our trusted local lenders. Our Local Lenders can help you get the best rates available while also creating a pre-approval letter stating you are ready to buy.

Having a Pre-approval letter makes you a stronger home buying candidate and shows you are ready to close on your dream home.

3.Make a list of needs, wants, and can live without.

We recommend making three lists:

  1. List One is going to be your Needs. Your needs would be having central air conditioning or having a privacy fenced in yard.
  2.  List two is Wants. Wants are your nice-to-have items like a swimming pool you dreamed about as a kid.
  3.  List three can live without.  Examples of can live without would be a fireplace or an extra-large yard.

Do not forget to include items such as location, driving distance, or your favorite neighborhood. As well as the number of bedrooms and bathrooms you prefer. Anything else you absolutely cannot (or will not) live without will also be on here. Our agent can help you decide what housing options will be the best fit within your budget.

4.House hunting online.

With that handy list of needs, wants, and can live without you can register on seach7Cities website to start looking and see what is available. Additionally, your search7Cities Agent will send your very own mobile SearchHomeNOW app. One of the benefits of your own home searching app is easier communication with your agent while also staying up-to-date on the GO. At Search7Cities we take pride in giving you real time property information that may not be available or delayed via other site.

5.Viewing houses.

Once you start seeing homes you like you should call your agent. Ask them to help you start scheduling viewings. Visit as many homes as you can because the more you compare and contrast the more knowledgeable you will be about the current market and your options. Ask your agent for advice about how to buy a house that really fits your needs.

6.Make an offer, counteroffer and negotiating.

Once you find the home of your dreams it is time to make an offer. When making an offer you will truly thank yourself for working with a search7Cities real estate agent. They are going to help you make the right offer to including things that go beyond the dollar amount. When you make an offer on a house, the seller may accept it or counteroffer, and then your agent will help you decide how and if to negotiate. Once you arrive at an offer everyone likes, you are then considered under contract and on your way to purchasing your home.

7.Loan approval.

Remember back in the beginning when you got pre-approved? Pat yourself on the back because all you must do is finish up a few things up to make it official. Your Agent will notify your lender that you have found a house. The lender will order an appraisal and give you some paperwork to fill out. Your loan then goes through the underwriting process which is the step before it finally approved. At this point we suggest not purchasing any big-ticket items such as a car, opening a new credit card, or anything that requires financing or credit checks.

8.Waiting for the appraisal.

One of the ways your lender makes sure your house is at market value is with a home appraisal. This is when someone does a professional evaluation of how much your home is worth. If the appraisal ends up higher than your offer, go celebrate. If it’s not, you may either have to make a larger down payment or renegotiate the price. At this point you may decide to walk away from the deal and continue your search.​

9.Hire a home inspector.

Being under contract means you can still back out if you learn anything unexpected about this house. A home inspector is the one who finds any potential surprises. It should not cost more than $300 to $500 for your home inspection. It will be worth the money and saving you from buying a house with a major problem. If you do not have a home inspector in mind, we can connect you with our preferred vendors.

10.Closing Day.

This is the day you get your house keys—but first, you have some serious paperwork to do. An appointment will be set for closing. Items to bring to your appointment are a driver’s license and cashier’s check for your down payment and closing costs. You will then sign your property title and other documents that are required from you. Once this meeting is over you are NOW a homeowner. You can take your keys and enjoy your NEW HOME!!

We would love to wish you well on your home buying journey. And remember if you need any help at all you can trust search7cities to assist you with all your real estate needs.