Home Buying Made Simple

Dated: July 17 2020

Views: 137

The Home Buying Process

The Buyer's Advantage

As the home buyer, your agent's commission is paid by the seller of the home in almost all circumstances.  This means your representation costs you nothing

Meet with a Real Estate Professional

Discuss the type of home you're looking for, including style, price, and location.

Get Pre-Approved

You will need pay stubs, W2s, and bank statements. Knowing what you can afford is critical to a successful home shopping experience.

Advanced Search

Not all real estate websites are the same. Your real estate professional has tools and systems to ensure you see every available home that meets your criteria.

Search for Homes

The fun part! Your agent will schedule showings and help you find the perfect home.

Make an Offer

Your agent will prepare the offer based on the price and terms you choose.

The Contract

In most cases, the contract provides you with a timeline to obtain financing, as well as time to inspect the physical condition of the home.  Your real estate professional will inform you of all your rights and responsibilities related to the contract.

Negotiation and Contract

It may take a few tried to get it just right, but hang in there. You're on your way!

In Escrow / Under Contract

You and the Seller have agreed to the price and terms.  The home is effectively held for you until closing.

Preparing for Closing

You will be finalizing your loan, reviewing documents, and discussing the findings from the inspection. Your agent will be managing this entire process for you.

Final Details

Perform due diligence, order the appraisal, conduct an inspection, and review terms with the lender.

Closing

This is the transfer of funds and ownership.  A title company or an attorney typically acts as an independent third party to facilitate the closing.


This article was written by Jay Cottrell, Affiliate Broker with eXp Realty LLC. The content is based solely on the opinions of Jay Cottrell and not those of eXp Realty.  

Required Brokerage Information:  eXp Realty, LLC | 3200 W. End Ave, Suite 500, Nashville, TN 37203 | 888-519-5113

Blog author image

Jay Cottrell

EXPECT MORE. Growing up in Northeast Tennessee it has been a passion of mine to help others. I also have many years of experience in building and running successful companies. As well as over 5 years....

Latest Blog Posts

Let's Hit Your Homebuying Goals This Year

How To Hit Your Homebuying Goals This Year [INFOGRAPHIC]Some HighlightsIf you’re looking to buy a home, you may want to put these items on your to-do list to ensure you hit your goals.It

Read More

How Homebuyers Can Win in Today’s Market

If your goal is to purchase a home this year, you might be looking for any advantage you can get in today’s sellers’ market. While competition is still fierce for homebuyers, there are

Read More

How Sellers Win When Home Inventory Is Low

In today’s housing market, the number of homes for sale is much lower than the strong buyer demand. As a result, homeowners ready to sell have a significant advantage. Here are

Read More

Less Affordable or Unaffordable?

Important Distinction: Homes Are Less Affordable, Not UnaffordableIt’s impossible to research the subject of buying a home without coming across a headline declaring that the fall in home

Read More