8 Steps to Buying a Home

Purchasing a home is a major investment.  At Capstone, our goal is to ensure that you understand the process and feel confident.  Key steps of the process include:


 

  1. Do Your Homework Before Searching
    Investigate schools & local amenities to decide on neighborhoods that are right for you.  Also determine the most important property features.

  2. Get Your Finances in Order
    Review your credit report — be sure to have enough money for the down payment & closing costs.

  3. Don't Wait to Get a Loan
    Pre-qualify for a mortgage before looking at homes.  You’ll be taken more seriously.

  4. Get Help
    Hire a local, well-informed agent to act on your behalf.  Unlike a listing agent (whose first obligation is to the seller), a buyer's rep works for you.  This is a major advantage.

  5. House Rich vs. House Poor
    Don’t overextend yourself.  Buying the most expensive home you can afford might put you at risk to afford maintenance, repairs, decorating, and savings.

  6. Make an Offer
    With your agent, you’ll put forward a conditional offer detailing terms & conditions.  If the seller accepts, it becomes a binding agreement — carefully review the offer with your agent and speak up if anything isn’t clear.  Your contract should be contingent upon an inspection and mortgage.  If the inspection reveals a problem, you have three options:  1) negotiate a resolution with your agent; 2) withdraw the offer; or 3) accept the deficiencies and move ahead.

  7. Move Forward on Your Mortgage
    As soon as the seller agrees to the contract, start the loan process by contacting your mortgage professional.  If you’re pre-qualified, much of the legwork is already done, and your loan will be processed more quickly.

  8. Close the Deal
    At closing, you’ll sign papers and get keys to your new home — with ownership legally transferred from seller to buyer.  Closings are typically held at the title company or law firm.  The closing officer will coordinate all document signings and collect & disburse funds.

For more detailed information about the steps involved in a home purchase, check out the Department of Housing and Urban Development’s comprehensive guide, Buying a Home.

 

Purchasing a home is a major investment.  At Capstone, our goal is to ensure that you understand the process and feel confident.  Key steps of the process include:


 

  1. Do Your Homework Before Searching
    Investigate schools & local amenities to decide on neighborhoods that are right for you.  Also determine the most important property features.

  2. Get Your Finances in Order
    Review your credit report — be sure to have enough money for the down payment & closing costs.

  3. Don't Wait to Get a Loan
    Pre-qualify for a mortgage before looking at homes.  You’ll be taken more seriously.

  4. Get Help
    Hire a local, well-informed agent to act on your behalf.  Unlike a listing agent (whose first obligation is to the seller), a buyer's rep works for you.  This is a major advantage.

  5. House Rich vs. House Poor
    Don’t overextend yourself.  Buying the most expensive home you can afford might put you at risk to afford maintenance, repairs, decorating, and savings.

  6. Make an Offer
    With your agent, you’ll put forward a conditional offer detailing terms & conditions.  If the seller accepts, it becomes a binding agreement — carefully review the offer with your agent and speak up if anything isn’t clear.  Your contract should be contingent upon an inspection and mortgage.  If the inspection reveals a problem, you have three options:  1) negotiate a resolution with your agent; 2) withdraw the offer; or 3) accept the deficiencies and move ahead.

  7. Move Forward on Your Mortgage
    As soon as the seller agrees to the contract, start the loan process by contacting your mortgage professional.  If you’re pre-qualified, much of the legwork is already done, and your loan will be processed more quickly.

  8. Close the Deal
    At closing, you’ll sign papers and get keys to your new home — with ownership legally transferred from seller to buyer.  Closings are typically held at the title company or law firm.  The closing officer will coordinate all document signings and collect & disburse funds.

For more detailed information about the steps involved in a home purchase, check out the Department of Housing and Urban Development’s comprehensive guide, Buying a Home.

 

 

Copyright © 2017 Capstone Mortgage Company, Inc.

  NMLS Company ID #1445; MA Broker License #MB1445


Copyright © 2017 Capstone Mortgage Company, Inc.

  NMLS Company ID #1445; MA Broker License #MB1445