8 Steps to Purchasing a Home

Decide if you're ready to become a homeowner.

Is your career stable? Are you ready to establish roots? How's your credit?

Can you financially afford a home and related expenses?

Get PreApproved.

Find out how much you can afford along with any credit score problems that need to be addressed. Get information about your mortgage options, interest rates, closing costs, taxes & more. Armed with this document, you'll help increase the odds of your offer being accepted over one that doesn't have this documentation PLUS it will likely speed up the mortgage process once you have an accepted offer.

Choose a realtor.

Work with a professional to maneuver through the maze of forms, financing, inspections, negotiations all the way thru close. Without it, you are on your own. You might want to interview several agents as well as consider such things as training, experience, representation and professional certifications.

Tour homes.

Put together a list of features and prioritize those items (no. of bedrooms & bathrooms,

layout, yard size, commute time, garage, etc) to share with your Realtor. Consider your

current  future needs.

Choose a Home.

Make a comparison of homes that you're considering and how they stack up against your wish list. An experienced Realtor can help you determine when and how to compromise as well as show alternatives to help you make an informed decision.

Make an offer.

Typically you will fill out an offer sheet with the help of your Realtor including price, contingencies (such as inspections, financing, or the sale of your current property plus any items to be included in the sale. The offer will be presented to the owner's representative, often with a response deadline. The owner may accept, reject or counter (often under a short deadline), so it's important to remain in close contact with your realtor during this process.

Acceptance to closing.

During this time, you will work closely with your realtor and mortgage representative.

You will need to secure homeowner's insurance to protect the property and learn the

final amount needed to close.

Closing to KEYS!

Typically before closing, buyers will have a final walk thru to ensure that the property has not been negatively impacted since the purchase agreement was finalized. At the closing itself, all paperwork for the agreement and transaction details are completed by all parties and keys are handed over to the new owners.

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© 2019 by Hawkeye Real Estate & Property Management

Chris Roach, Broker
Licensed in Iowa