What are the steps to buying a new home?
• Pre-Qualify. First, pre-qualify for a home loan by meeting with a loan officer at a lending institution (ie. bank, credit union, mortgage company). Don’t know where to go? Contact us, and we will be happy to direct you. The officer analyzes your income, debts, and credit history to determine your loan amount. • Find a Home. Next, contact your REALTOR® to start looking at homes. Knowing your loan amount, your real estate agent can show you homes in your price range, which you qualify to purchase. • Make an Offer. When you find a suitable home, your REALTOR® will help you make an offer by preparing a purchase and sale agreement to present to the seller and by holding your earnest money (see no. 4). The seller may accept your offer, reject your offer, or reply with a counter-offer (ie., a new offer made to you to negotiate on price). • Attend Closing. Once both parties come to an agreement, you prepare for closing. Your lender requires an appraisal to determine if the agreed price is re
