Buying Your First Home: How does buying work?

Determine your budget: Consider your current financial situation and determine how much you can afford to spend on a home, including the down payment, closing costs, and monthly mortgage payments.

Get pre-approved for a mortgage: We strongly encourage that before you start shopping for a home, you get pre-approved for a mortgage. This will ensure that you are not looking at homes that are outside your budget.

Shop for a home: Work with a local real estate agent to search for homes that fit the budget you have set with your mortgage professional.

Make an offer: When you find a home you want to purchase, you will need to make an offer to the seller. The offer should include the purchase price, closing date, and other terms and conditions.

Negotiate: If the seller accepts your offer, the next step is to negotiate any remaining details, such as the closing date, concessions, contingencies, and repairs.

Get a home inspection: Before closing, you may want to get a home inspection to ensure that the home is in good condition and that there are no major issues.

Close the deal: If the home inspection is satisfactory, the next step is to close the deal. You will need to pay the down payment, closing costs, and other fees, and sign the mortgage and other closing documents.

Move in: Once the closing is complete and the purchase is recorded with the county assessor, you will become the new owner of the home and can move in.

Remember, buying a home is a complex process and that the steps may vary from what is shown above, depending on the location and specific circumstances of the sale. Working with a knowledgeable real estate agent, licensed mortgage professional will ensure that you have the support and guidance you need throughout the process.