Thread: Steps for Buying a House

Hi...........,
Steps for Buying a House

1. Get pre-approved for a mortgage. Credit report, FICO score, type of mortgage, shop for best rates and programs.
2. Determine your wants and needs: style of home, size, price, location.
3. Seek out an exclusive buyer's agent. Compare the services of different agents and look for good personal chemistry.
4. Search for homes in the MLS and For Sale By Owner (FSBO).
   Sign up for daily email notification services and stay on top of all new FSBOs coming to market.
5. Check out the neighborhoods, schools, crime rate, traffic, zoning, and work commutes. Rely on your exclusive buyer's agent's expertise and in-company resources. Check the web for helpful information.
6. Do the due diligence and research on your property of interest.
   Visit or have your agent visit the town or city hall to learn of any zoning changes, liens, easements, or other restrictions.
7. Prepare the offer and negotiate. Have your exclusive buyer's agent prepare a property value study and ask the seller if there are any other offers and his motivation for selling, deadlines, etc.
8. Conduct the home inspections and other inspections. Take advantage of the inspection contingencies in your offer and get thorough inspections to eliminate any surprises after you move in to your new home.
9. Final negotiations and sign the Purchase & Sale Agreement.
   Use the inspection report to re-negotiate, if necessary and sign the P&S after review.
10. Walk-through inspection prior to Closing. Visit your new home before you sit down at the closing table to make sure everything is as you expect it to be.
11. Closing.

okay, it was a good read, however, I prefer calling it more of a guide than steps. Anyway, thanks for the share!

Good post for first time home buyers however there are other problems also which come across when you actually buy house. Overall its a good post. Keep it up.

Nice Post. I will consider these helpful points, Next time I buy a home/house.

helpful tip. thanks!

i think before contacting agents first have a deep ressearch on the internet. And find property portals on the internet in your area. i knew bayut.com in Dubai is one of the best in Dubai property portals in the region.

I think given steps surely been helpful for any one and contacting to professional skilled agent become more helpful than only researching on internet because we can not get for ever area specific information internet we can only get overview so contacting any professional would more batter.

Thanks for sharing that steps, Those really helpful tips upon buying new house. Things like that are very important to consider.

Originally Posted by gracesmith

Hi...........,
Steps for Buying a House

1. Get pre-approved for a mortgage. Credit report, FICO score, type of mortgage, shop for best rates and programs.
2. Determine your wants and needs: style of home, size, price, location.
3. Seek out an exclusive buyer's agent. Compare the services of different agents and look for good personal chemistry.
4. Search for homes in the MLS and For Sale By Owner (FSBO).
   Sign up for daily email notification services and stay on top of all new FSBOs coming to market.
5. Check out the neighborhoods, schools, crime rate, traffic, zoning, and work commutes. Rely on your exclusive buyer's agent's expertise and in-company resources. Check the web for helpful information.
6. Do the due diligence and research on your property of interest.
   Visit or have your agent visit the town or city hall to learn of any zoning changes, liens, easements, or other restrictions.
7. Prepare the offer and negotiate. Have your exclusive buyer's agent prepare a property value study and ask the seller if there are any other offers and his motivation for selling, deadlines, etc.
8. Conduct the home inspections and other inspections. Take advantage of the inspection contingencies in your offer and get thorough inspections to eliminate any surprises after you move in to your new home.
9. Final negotiations and sign the Purchase & Sale Agreement.
   Use the inspection report to re-negotiate, if necessary and sign the P&S after review.
10. Walk-through inspection prior to Closing. Visit your new home before you sit down at the closing table to make sure everything is as you expect it to be.
11. Closing.

good the way you presented step by step points looks very nice.thanks for giving a good guid

These are really helpful tips, I will keep these points while buying my next house.

Thanks !!