Understanding The Home Buying Process

Dated: 06/22/2017

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Purchasing a home is an exciting time, but can also be a time of uncertainty.   For most people the event itself means building emotional ties with new neighbors, a new community, starting an exciting chapter.  But for others it can be a time of great anxiety.  It's important that you find a Real Estate Agent whom you connect with, same goes with your lender.  Home buying is not only a big financial commitment, but also an emotional one.  If your agent or lender is not responsive or very good with communication, you may miss out on the perfect home, or add additional unneeded stress to the process.  It's highly critical that the Realtor you chose is both highly skilled as well as a good fit with your personality! 

Why hire a Real Estate Agent?   When searching for a home it's common to ride around and call for listing information off of the Listing Agent's sign.  But you need to remember that they have been hired not only to sell the home, but are responsible for representing the Seller's best interest.  You need an advocate for yourself!  When you work with a Buyer Specialist you are agreeing to "hire" a personal representative who, by law, must represent your best interests to the best of his/her ability.  And in our area the Seller's Agent is responsible for paying the Buyer's Agent fee.  So all of this personal service is available at absolutely NO COST TO YOU!  When working with an agent that specializes in Buyer Representation, you get a professional, devoted to protecting your needs as well as helping you make one of the most important investment decisions of your life. 

Here is a step-by-step guide to the home buying process.


1. Assess your wants and need

2. Establish working relationship

3. Educate on current market conditions

4. Outline buying strategy

5. Discuss financing options


1. Complete loan application

2. Obtain loan pre-approval

3. Provide requested documents


1. View properties based on your search criteria

2. Evaluate each property

3. Periodically assess search criteria based on availability of properties

4. Choose the right home


1. Review comparable sales to determine offer price

2. Review progress of loan pre-approval: decide on financing

3. Review disclosures, as available

4. Decide on other negotiation terms (inspections, possession date, personal property, etc)


1. Present your offer

2. Negotiate terms and possible counter offers

3. Finalize purchase agreement


1. Deposit earnest money

2. Schedule inspections

3. Review inspection reports and make request for repiars, if appropriate

4. Remove any remaining contingencies, property appraisal, loan processing, obtain final loan approval

5. Arrange for homeowner's insurance

6. Schedule transfer of utilities

7. Arrange for home warranty

8. Schedule final walkthrough inspection

9. Review closing statement

10. Fund balance of down payment

11. Sign closing documents and loan papers

12. Loan funding and record title


*Get the keys and move in!

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Amy Feith

Amy has been an active Real Estate Agent in the Richmond Hill, Greater Savannah Area since 2011, obtaining her Associate Broker's License in 2014. Amy has a background in Investment, Residential Resa....

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