Buying a home is a big moment that’s made possible through many critical decisions, such as where to live and how much to spend. Fortunately, these choices are easier when you have the support of experienced real estate agents and attorneys. These professionals will clarify concerns, avoid pitfalls, and create a roadmap to closing day. Here are some of the steps you’ll take on the path to becoming a homeowner and how your support team can help.

What the Process for Buying a Home?

1. Get Pre-Approved

Select a bank or mortgage lender to get pre-approved for a home loan. This simple step shows that a financial institution will finance your purchase up to a certain amount. In addition to showing sellers that you’re serious, loan pre-approval can help you gauge your budget.

2. Search for Properties

Hire a real estate agent to help navigate the vast and ever-changing housing market. After reviewing your budget and property preferences—such as size and location—the agent will select the best options. Next, they’ll guide you through showings and open houses to give you a closer look at the properties.

3. Make an Offer

As soon as you select a property, your real estate agent will submit an offer. Your attorney may be able to provide insights to help you select an amount that’s strategic, yet appealing. Next, the seller will review the offer and respond with a yes, no, or counteroffer.

4. Conduct an Inspection

Since many problems with a property may not be visible during a walkthrough, schedule a home inspection from a qualified professional. These experts will assess all major aspects of the property from the foundation to the roof and pinpoint issues that should be disclosed.

Your agent and attorney can use this information to adjust your offer. For example, they may recommend lowering the offer so that you can pay for the necessary repairs.

5. Closing

During the closing, you and the seller will sign a series of documents that detail the specifics of the transaction. In New York, an attorney is required to be present at this stage. However, this attorney usually works to meet the needs of the seller.

That’s why you should hire your own lawyer to explain any confusing terms and make last-minute negotiations on your behalf. After that, the funds are transferred and plans are made to exchange the property to you as the new owner.  

If you’re a prospective homeowner, John E. Bach Attorney at Law in Goshen, NY, offers the experience you need to buy real estate with confidence. Practicing real estate law for more than three decades, this attorney can offer insights at every stage of the buying process to ensure your rights are protected and your final purchase agreement is fair. Visit this lawyer online or call (845) 294-7941 to learn more about these legal services and other practice areas.