5 Home Buying Steps
Step 1 - Getting Pre-Approved
This step should be done prior to shopping for a home. It's important to know how much home you can afford, what type of down payment to budget for, monthly mortgage payments as well as what type of loan program you'll be using to finance the new property.
Step 2 - Assembling your Home Buying Team
The home buying process has many steps as well as many players. The potential challenges can be overcome with the right team on your side.
Buying a new home is literally a team sport since there are so many tasks, important timelines, documents and responsibilities that all need special care and attention.
Besides working with a professional team that you trust, it's important that the individual players have the ability to effectively communicate and execute on important decisions together as well.
Step 3 - Purchase Offer Submitted
After you've been given a mortgage approval and have found the type of property you are qualified to purchase and want to purchase, your agent will submit your purchase offer to a listing agent or seller.
Once you receive an accepted offer, the due-diligence period starts a series of timelines for final mortgage approval, appraisal, inspections, and other requirements as spelled out in the contract.
Step 4 - Conditions and Paperwork
This step can be overwhelming when you are asked to provide documentation to lenders, processors, insurance agents, sellers, real estate agents and sometimes more.
Step 5 - Closing
A successful closing requires all of the team players to come together at the same time, with the same agenda, on the same date, with numbers and figures that match.
Once you have made it through the closing, you are now the proud owner of a new home. Congratulations!
Call us today so we can help you begin the Home Buying Process. 678-775-2787 or MyHomeAtlanta.com