Here is a simple flow chart of what to expect during your home buying experience.
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Pre-Qualification |
Determine purchasing power, define price range |
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Needs and Wants |
Set priorities for size, location, style, features |
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Select Search Areas |
Preview information on available homes |
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Review Comparable Sales and Tax Data |
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Tour Selected Homes with Agent |
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Writing an Offer |
Strategy, negotiation, financing, contingencies, inspections |
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Mortgage Application |
Requires credit check, home appraisal |
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Settlement Schedule |
Deadlines for inspections, approvals, insurance, settlement |
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Professional Home Inspection |
Buyer & Agent should be present |
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Select Settlement Attorney (If Applicable) |
For title search, title insurance, settlement statement |
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Mortgage Approval |
Takes approximately two to four weeks |
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Obtain Homeowner Hazard Insurance |
Lender requires |
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Final Walk-Through Inspection |
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SETTLEMENT! CONGRATULATIONS! |
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Remember, it’s a Smart Move with HomeSmart!