The Buying Process

The process of purchasing a home can be complex. That’s the main reason you will want to work with the right Agent to guide you along the way. Here we will address the main steps and some key points about each step.

  1. Decide to purchase a home. Congratulations! You have decided to move forward and purchase a home. Now starts with all the fun shopping but it’s a good idea to get a couple of the next steps complete before you get in too deep.
  2. Select a Realtor®. Selecting the right Realtor is critical. The Realtor you select will guide you through the entire purchase process. For more information on selecting an Agent, CLICK HERE.
  3. Get Pre-Approved. You want to know exactly what you can afford and exactly how to structure an offer when the time is right. You want that information before you start looking for a home. If you do find the right home, most Listing Agents won’t even consider your offer without a written Pre-Approval from you lender.
  4. Make an Offer – Your offer to purchase a home will be written by your Agent and presented to the Seller or Seller’s agent. The offer can consist of the contract and all relevant addenda. Your agent will discuss those with you. If your offer is accepted you are under contract. Congratulations! 
  5. Earnest Money – This is your deposit. This shows the Seller that you are a serious Buyer. There may be one or more deposits required at certain times. Be sure you make the deposits timely and be sure you understand the circumstances under which your deposit can be lost. Be careful!
  6. Inspection. You will hire a professional home inspector to inspect your new home. They will look at all the major components of the house. If there are any issues or problems, you can request they be resolved by Seller or receive a credit for repairs. Here in FL, you can cancel the contract at any time during the inspection if you are not happy with the inspection results or the Seller’s resolution.
  7. Appraisal. If you are taking out a loan to purchase this house, your lender will have the home professionally appraised to make sure the lender is not loaning you too much money for the house. Your agent and lender will advise you how to deal with a low appraisal if that occurs.
  8. Closing. This is the last step to home ownership! Behind the scenes the title company has been working on things like checking title on the house, looking for liens or open permits and calculating prorations for closing. At the closing table, you just sign all the paperwork and take the keys. The home is yours!