8 Steps to Buying a Home

    by Jeff Graham, Nebraska Home Sales Realtor

    You’ve decided to buy a home. CONGRATULATIONS! There’s a number of generic steps you should know about when embarking on this adventure.

    First is banking. It seems obvious, but many buyers don’t give it enough thought. Sellers are looking for a buyer who can perform. So the first thing to do is to visit a financial institution or two and become pre-qualified or pre-approved for a loan.

    Second, do you have a house you want to sell? Talk to your agent about this and put a plan together!

    Third is looking at houses! Your agent will need to know what characteristics you’re looking for. Number of beds and baths, what neighborhood or part of the city, square feet, ranch or multi-level, new construction, and so on.

    Fourth. You’ve found a home you like, and it’s time to make an offer. Either the offer is accepted as is, countered, or rejected. After an offer is accepted, the home goes under contract.

    Fifth. At this point, you will be meeting with your bank to start the loan process that includes an appraisal. You review inspection results and negotiate for repairs or compensation. Presuming a good outcome of the negotiations, you wait on the bank appraisal results.

    Sixth. When the appraisal comes back, the bank moves forward with the loan, or not. If not, the buyer may come up with the extra cash needed to make the purchase, or negotiate with the seller to adjust the sale price.

    Seventh is waiting on the bank and closing date. Think about when to deal with moving your children from one school to another and scheduling a moving company. Don’t forget to schedule changes in utilities, set up trash and internet service, and change your mailing address.

    Eighth is closing day. I love closing day. You get new pens to keep, and many closing companies have cookies on the table. You spend an hour signing documents, turn over a check, and receive the keys to your new home! After the closing is completed, it’s time to drive to your new home and start building some great memories!v

     

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    5 Responses to “8 Steps to Buying a Home”

    • Rahul More

      Written on

      Awesome post !! I am thinking to take commercial property on rent for my new venture but I was very confused about the question need to ask for property owner regarding rent, agreement, and other stuff. After reading this post of your most of my doubt is clear now. Surely I will be being the tips mention in this post in my further assignment.

      Reply
    • Yoshiko Flora

      Written on

      I find it helpful that you wrote a list of how a person can buy a home, especially for the tip to get pre-qualified or pre-approved for a loan from a local bank. Reading about this reminded me of my sister, who needs to buy a bigger house to support her family of five kids. I will help her by recommending the article to her and find a local real estate agent by the end of this week. Doing this will also help them get settled in before they head in their new school next year.

      Reply
    • Callum Palmer

      Written on

      I’m wanting to get into a house and out of my apartment. As you said here, I should start actually looking at houses that I want to buy. That way, I can get an idea of how many bedrooms and bathrooms I want along with what area I want to live in.

      Reply
    • Lorenza

      Written on

      Amazing things here. I’m very happy to see your article.

      Thanks so much and I’m having a look ahead to touch you. Will you please drop me a mail?

      Reply
    • Jim Homeia

      Written on

      Thanks Jeff for helpful guide. For a first-time home buyer, the process of buying a house can seem a bit intimidating. These guides will be support home buyers a lot.

      Reply

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