Once you have gotten pre-approved, the search for a new home is on. Of course, use this site to help you with your search and be ready to go look at some homes. Homes in good locations do not last long these days. If you and your realtor find one, go see it as soon as you can because they can sell within the matter of days or even hours.
Once you find one and like it, it’s time to make an offer. Your realtor will guide you through this but main things to consider in most offers are sales price, closing costs, closing date, one year home warranties, repairs, appliances, personal property that you might want to remain, and contingencies. Most, if not all, of these are negotiable and seller or buyer can pay them.
After you have negotiated a contract, the first step most likely will be to get a home inspection. Please consider doing this. The cost of home inspections varies but on average they are $250-$400. They are worth it. Once this is done, then you can negotiate with the seller any repairs needed. There are other inspections that may be done too like Radon Gas, Well and septic inspections, pools, etc.
After home inspection, your lender will order an appraisal to make sure the value of the home is at least the sales price or higher. The lender requires this and may also require a few other things like a termite clearance letter to show there are no active termites.
Once inspections are done and repairs are negotiated, you are a lot closer to getting the house to closing. Your lender will remind you to get homeowners insurance, which you are required to have, and then you will set a day and time to go to a title company or closing attorney for the closing and signing.
At closing, you will sign the closing documents and go over the final figures of the sale, including what your exact payment will be, your down payment, interest rate, and terms of loan. This typically takes about 45 minutes to an hour to sign.