Here are the typical steps involved in buying a home. There will always be exceptions and unexpected events, but I have helped hundreds of buyers and can use that expertise to navigate through these events.

PREPARE

Step 1 – Agent Consult

I will be your point person throughout the homebuying journey. It is my role to understand your needs and guide you through what can feel like an overwhelming process. Together, we will work with the L&F home buying team to search, find and purchase your dream home.

Step 2 – Mortgage Consult

Your Prosperity Home Mortgage consultant will assess your finances, assist with a credit check, and get you pre-approved for a loan. This will give you a clear idea of how much you can afford and strengthen your position as a serious buyer.

SEARCH & NEGOTIATE

Step 3 – Property Search

More than just finding homes and opening doors, my role is to listen to you, understand your needs, navigate the market, find suitable properties, and negotiate on your behalf. I will help you understand current market conditions to be ready to make an offer when you find the right home.

Step 4 – Offer

We will craft a competitive offer that takes into account the market conditions, comparable sales, and your budget. We will discuss offer terms that meet your needs. Things to consider are earnest money deposit, down payment, inspections and closing date. I’ll also reach out to determine if there are any specific things the seller is looking for.

Step 5 – Finalize Agreement

Arriving at a final agreement is a process of discussions and negotiations with the seller and their agent. Once your offer is accepted, you have entered into a purchase agreement that outlines the terms and conditions of the sale. In the end, our goal is to come to an agreement that meets your needs and protects your interests.

DUE DILIGENCE 

Step 6 – Mortgage Processing

Your Prosperity Home Mortgage consultant will provide you with estimated costs to close and secure your financing. The lender will order an appraisal and process the loan through final approval.

Step 7 – Inspection

A home inspection is an essential part of this process. It helps you identify any potential problems with the property so that you can identify and/or remedy them prior to making an offer. It also allows you the chance to understand the major systems of the property and how to maintain them
in the future. Depending on where you are buying, I recommend Red Star Home Inspections or Fox Mountain Property Inspections who will provide you with reports to aid in your decisions.

Step 8 – Homeowners Insurance

Your Long & Foster insurance agent will help you secure proper insurance coverage at competitive rates to protect your largest investment – your home – and other assets.

Step 9 – Get Appraisal

An appraiser gives an independent opinion of value. The appraisal report documents the value of your new home based on recent sales and trends in the market. If you are getting a mortgage, the lender will hire the appraiser.

TITLE

Step 10 – Title

Your Long & Foster settlement company will search the ownership history of the property to ensure the current owner has the right to sell and provide you with title insurance to protect your rights to the property and your lender in the case of a future challenge to ownership rights. The settlement
agent coordinates with taxing authorities, property owner associations, mortgage lenders, insurance agents, and more to provide a full accounting of prorations and execute disbursements for the purchase.

SETTLE

Step 11 – Settlement

This is an exciting day! We will arrive at this point after meeting all deadlines and completing all
home buying tasks together. Be sure to wire any funds to the title company ahead of time – they won’t take a personal check or cash!  Today, you will sign the documents to purchase your home and receive
the keys to your new home.

MOVE

Please contact me for more detailed information on the buying process! Or download the PDF version of this guide to the home buying process.