7 Steps To Buying A Home Thru Closing Day

Buying a home takes about six months from your search to the closing day at a minimum. There is a lot to consider when likely making the biggest purchase of your life.

Pay special attention to the steps we outlined below. You will be working with key professionals—real estate agent, banker, title insurer, attorney, inspector—that will be part of this process.

Step 1: Get your finances in order. You will likely need a loan unless you have loads of cash to pay for your house. Hopefully, you have been budgeting and saving for a house purchase.

Step 2: Prequalify For A Mortgage – Takes About One Month. Before you actively go house-hunting, it is a good idea to get preapproved for a mortgage.

Step 3: Search for your home online and in-person* Check on Zillow.com  to get an idea of what you get for your budget in terms of floor plans, features, square footage.

Step 4: Always Negotiate  With The Seller Now The Negotiations Begin You can negotiate the price, the timing of the closing, the outdoor furniture, and other details.

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Step 5: Hire An Attorney And Formally Apply For A Mortgage Loan Once you make an offer for the house, you will want to hire an attorney.

Step 6: Prepare For The Closing Once you have made an offer, you will need to engage an attorney to represent you in the title’s negotiations and the closing.

Step 7: The Closing Who attends? There is some nervous excitement when you reach this step. Several key people attend the closing.

At the closing, the buyer signs the mortgage documents, the seller signs the deed, transferring the title to the buyer. The buyer writes big checks in exchange for the keys to the buyers’ new home.

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