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0 of 6 steps completedStep-by-Step Instructions
1 Step 1: Get pre-approved for mortgage
Step 1: Get pre-approved for mortgage
Before house hunting. Pre-approval tells you what you can afford and signals serious to sellers. Shop 3+ lenders for rates.
Local credit union
Often best rates and personal service.
Compare 3+ lenders within 14 days
All credit pulls in 14 days count as one inquiry. Comparison is mandatory.
2 Step 2: Hire a buyer's agent (free for you)
Step 2: Hire a buyer's agent (free for you)
Seller pays both agents' commission. Free for buyer. Get a buyer's agent who knows your target neighborhoods.
Interview 3 agents
Ask about local experience, recent buyers, market knowledge.
Ask about average days on market in your area
Tests their local knowledge.
3 Step 3: Define what you actually want
Step 3: Define what you actually want
Must-have vs nice-to-have list. Locations, bedrooms, schools, commute. Saves both you and your agent's time.
Top 3 deal-breakers + 5 nice-to-haves
Be honest about which compromise is worse.
Drive target neighborhoods at different times
Tuesday 6pm and Saturday 8am are different worlds.
4 Step 4: Make the offer
Step 4: Make the offer
Agent guides on price based on comps (comparable sales). In hot markets, escalation clauses help. In cold markets, low offers can succeed.
Agent runs comps in target area
Last 6 months of similar sales. Sets baseline for offer.
Earnest money deposit (1-3% of price)
Shows you're serious. Refundable if contingencies fail.
5 Step 5: Get an inspection (NEVER skip)
Step 5: Get an inspection (NEVER skip)
Independent inspector identifies problems. Costs $400-600. Saves $10,000+ in unknown repairs.
Warning: Waiving inspection in competitive markets = playing roulette with the biggest purchase of your life. Find a home where you don't need to.
Hire independent inspector (NOT agent's pick)
Avoid conflicts of interest. Search 'home inspector' on local Yelp or Angie's.
Negotiate repairs from inspection report
Ask seller to fix or credit toward closing. Walk if major issues.
6 Step 6: Close + budget for hidden costs
Step 6: Close + budget for hidden costs
Closing costs are 2-5% of purchase price on TOP of down payment. Plus moving costs. Plus appliances. First-year ownership is expensive.
Budget 2-5% for closing costs
$10-25k on a $500k home, in cash, at closing.
Have 6 months of mortgage payments in reserve
On top of down payment. Home maintenance hits hard year one.
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