Ignite FB Tracking PixelTypical Steps to the Home Buying Process - Carrie Ammons

Typical Steps to the Home Buying Process

by Carrie Ammons 08/16/2018

Carrie Ammons, Realtor at RE/MAX Right Choice

  1. Obtain your loan pre-approval from your institution of choice.
  2. Decide on the features you need/want in your new home.
  3. Determine your budget amount.
  4. Find a realtor to guide you through this process. This is an important decision – you need someone who you feel comfortable with, someone who you can trust. 
  5. Look at homes that meet your criteria and ultimately find your dream home.
  6. Sign a purchase agreement with the terms and price you are comfortable with.
  7. The process continues with negotiations and often includes counter offers. Once a mutually signed agreement between the buyer and seller is reached the property is now considered pending  and is officially taken off the market. 
  8. The buyer must submit an earnest money deposit (typically $500 - $5000) ensuring to seller you are committed to finalizing the sale.
  9. Apply for your mortgage with your financial institution. Lender typically collects the appraisal fee up front ($395 - $450)
  10. Order appropriate tests and home inspection ($250 - $350). There may be extra costs if well/water and/or septic testing.  If the home inspection is unsatisfactory and cannot be remedied,    the deposit is returned.  
  11. Title work is ordered.
  12. Lender orders an appraisal.
  13. Purchase homeowners’ insurance ($600 - $1500). This cost is sometimes wrapped into your closing costs.
  14. Schedule and conduct a final walk-through.
  15. Order utilities, cable, phone, change of address.
  16. Close on the purchase of your new home.

About the Author

Author
Carrie Ammons

After more than 20 years in education I chose to transition to real estate and focus on providing outstanding service to my clients.  As an educator at heart, I will help you through the process of purchasing and/or selling your home. I know what an important decision this is and I look forward to guiding you through each and every step.  

I am here to serve you.  I want my clients to have a great experience with their transaction.