Home Buying Process

The right real estate agent can guide you through the home buying process with ease.  Below is a quick overview of the steps we will take together when finding and purchasing your new home.

 

1) Obtain mortgage pre-approval before you begin house hunting.  Learn how much home you can afford.  It strengthens your bargaining position with Sellers when you are ready to start the home buying process.

2) Choose a Realtor®  Select a reputable professional who will listen to your needs and represent you.

3)Find the right home.  Determine the needs of you and your family.  Create a wish list of desirable features.  Take notes as you preview homes.

4) Make an offer.  Earnest money deposit due at this time; deposited after effective date.  Your Realtor® presents your offer to the Seller, who will accept, counter or reject it.   NOTE: “Effective Date” is the date of final acceptance as indicated by the Date adjacent to the signature of the last party to sign the Contract or the Counter Offer.

5) Have the home inspected.  Hire a professional home inspector, after the offer has been accepted, to provide an in depth look at the basic systems of the house, to reveal any safety hazards and for you to be informed of certain conditions of the home.  Types of inspections (but not limited to): whole house inspection, radon, termite, HVAC, chimney/fireplace, EIFS, lead paint etc.

6) Review Title Commitment and Subdivision Covenants.  This guarantees that the property you are purchasing is free of liens or confusion in rights of ownership.  The policy insures against any losses to the property that result from defects in the title or deed.

7) Finalize your loan commitment with your lender.  Appraisal and underwriting.  An appraisal, required by your mortgage lender, is a formal, written estimate of the home’s current market value.

8) Final Walk Through–Prior to closing, a final walk-through of your new home will be conducted.  This is to see that the property is in the same condition as when you first viewed it and/or to verify that any required repairs have been completed.

9) Close on the Property–Ownership of the property is transferred; keys/garage door openers and utilities change.  Closing is usually held at your lenders office or the title company office.  A closing agent coordinates and distributes all the paperwork and funds and maintains a permanent file.    As your Buyers Agents, House of Brokers will maintain a permanent closing file of your transaction for 5 years.

You then become the proud owner of your new home!

All information presented on these web pages deemed reliable but not guaranteed and should be independently verified by the users of this site. The House of Brokers Realty does not make any warranty or representation concerning the timeliness or accuracy of the information displayed herein. In addition, portions of the information displayed on this page may be confidential, proprietary, and copyrighted information of the Columbia Board of REALTORS®, Inc. Multiple Listing Service. Information is provided for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.