Steps to Home Ownership
When all steps have been completed, it's official. You're a
- Select a real estate professional who knows the area in
which you would like to live.
- Meet with your agent to discuss your needs, location, size
style, special features, etc.
- Ask your agent to arrange a meeting with a knowledgeable
lender to determine your buying power.
- Your real estate agent will then help you select
neighborhoods in your price range.
- Your real estate representative will preview homes, select
those which most closely meet your needs, and arrange to tour
these homes with you.
- After you have found your perfect home, it's time to make a
written offer. Your agent will prepare the offer, and present
it to the seller. Your offer may be accepted or the seller may
write a counter offer.
- After an agreement is finalized, escrow will be opened and
your deposit check will be deposited into the escrow trust
- Apply for your home loan through the lender that offers the
most favorable qualifying process and loan rates. Your
representative will assist you in this process.
- You'll review the escrow instructions, each of which must be
signed by both buyer and seller. Your real estate professional
will guide you through the transaction and monitor its
- Shortly before closing, your escrow officer will notify you
that final documents are ready for signing and inform you of
the amount of money required for your closing costs.