The Home Buying Process Roadmap
Buying your dream house soon in Ontario, CA? Here’s how you can do it by following this home buying process roadmap.
Steps to Buying Your Dream Home
1. get a mortgage pre-approval
Step one is all about getting secured on a mortgage loan to finance your home buying decision. Getting pre-approved for a mortgage dictates your destiny: whether you’ll have a chance of buying your dream home or none at all.
Steps include:
- Check your credit score
- Gather your financial statements
- Shop for a mortgage lender
- Determine what type of mortgage to get
- Get a pre-approval letter ready
2. Find A Real Estate Agent
Find a real-estate agent whom you can discuss your plan of buying a home. Search through the internet or ask for recommendations from friends and families. When choosing one, look for the following:
- Credentials
- Long track of record
- Number of years in the industry
3. Shopping for homes
After you’ve completed the first step, you’re now confident in home shopping. Take a tour around the neighborhood and bring a camera and a list of addresses for your soon-to-be home.
Steps include:
- Shop for homes
- Attend open houses and showings to view the homes you’re interested in
- What your commute would be like
- Make a list of the homes you like
4. Negotiation and Offer
Now that you have the list of your potential homes, it’s time to make an offer and negotiate with the seller’s agent.
Steps include:
- Research about the home prices in the neighborhood and in similar markets
- Send an offer to the seller
- Negotiate and sign a contract
5. Careful examinations and inspections
Before you can finally agree to buy the house and sign the contract, due diligence must be conducted before arriving at the final decision.
Steps include:
- Home inspection
- Appraisal
- Survey
- Negotiate repairs
- Begin the title exam.
- Complete the loan application process.
6. Pre-Closing and Title
This step is about getting the title ready, preparing the home, and signing the documents for turn-over and signing.
Steps include:
- Confirm that the repairs are finished
- Pre-closing walk through
- Purchase a homeowner’s insurance
- Send funds to the title company
7. Closing (the end goal)
Finally, after all those tedious home buying adventures, it’s time to move into your dream home.
Steps include:
- Review and sign closing statements
- Receive your keys and you’re good to go
