BUYER'S CHECKLIST
1. Figure out how much house you can afford
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Calculate your monthly income and debt.
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Check your credit report and FICO score.
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Figure out your down payment.
2. Get pre-approved for a mortgage
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Choose a type of mortgage program that works best for you.
3. Find a realtor
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If you aren’t currently working with a realtor, click on the Partners tab at the top of the page to request a real estate concierge.
4. Determine what you want and need in a home
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Choose a location (downtown, suburban, rural, etc.).
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Choose a home type (single family, two-story, townhouse, condo, tiny home, or loft).
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Choose your price range.
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Choose a size for your property.
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Determine your target neighborhoods.
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What to consider when searching for a home
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Look online for information on schools, crime rate, traffic and zoning.
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Determine your work commute.
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Scout local amenities, such as parks, shops and restaurants.
5. Learn more about your desired neighborhood
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Get referrals.
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Browse listings online.
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Ask your agent to set up tours of homes that fit your criteria.
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Check local newspapers.
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Pick up flyers and attend open houses.
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Research each home you want to buy.
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6. When you find that perfect home that you can afford, have your realtor put in an offer
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Determine the purchase price.
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Include contingencies, such as financial, inspection or purchase.
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Spell out any special requests and repairs you want included in the sale.
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Determine an earnest money amount.
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Define a move-in date.
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Once both parties agree to the terms, sign the Purchase and Sale Agreement.
7. Finalize the deal
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Get the house appraised.
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Get a professional home inspection.
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Consider getting specific inspections for structural engineering, roof and termites.
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Use the appraisal and inspection reports to re-negotiate if necessary.
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Choose a home insurance company.
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Complete the loan process with the lender.
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Do a walk-through inspection prior to closing.
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Set aside cash for the closing costs and down payment.
8. Close the deal and get ready to move in!
Note: Get a cashier's check for the amount you need to bring to closing, including the down payment and closing costs.