If you’re buying a home for the first time, you might be surprised at how many steps there are in the process. It can take months to find the right home and close on it. Following the process correctly helps protect your investment, and also prevents delays that could make it take even longer to buy property. Here are the steps you should follow when buying real estate.

How to Buy a House

1. Prepare

First, take stock of how much you have saved for a down payment and how much you can afford monthly. Research the housing market in your area, and get pre-qualified or pre-approved for your home loan with your bank. Find a real estate agent you trust, preferably from an agency that’s well established in the area.

2. Find a Place

Decide on your requirements for a home, including the size, location, and features. Your real estate agent can often present you with a selection of homes that fit your needs, and you can also look through listings online. When you find houses you’re interested in, ask your agent for a walkthrough to see if you like them in person.

Have a list of questions to ask about the home, like its age, features you’re interested in, and any potential problems with maintenance. Once you’re sure you’re interested in a home, you can make an offer.

3. Inspect & Appraise

You’ll need to have several professionals visit the home to determine whether there are any problems with it, such as deteriorating wiring or pipes, a roof in need of repairs, or unsafe conditions.

Your bank will also require an appraisal to determine the home’s value. All of this information ill help you negotiate a fair price with the homeowner and determine any conditions on the sale, like necessary repairs before closing.

4. Secure Your Mortgage

With an appraisal in hand, you’re ready to confirm your loan with the bank. They’ll look over the information about the house and your finances, and determine whether they’re willing to give you the housing loan. If your sale price is close to the home’s value and you were pre-approved, you should be able to get your mortgage.

5. Close

With financing in place, you can finalize your contract with the person selling the real estate. This is where you’ll sign for the house and they’ll hand over the keys. Make sure to have your agent or attorney look over the contract before signing to ensure it contains every provision you agreed to during negotiations.

For help finding the perfect real estate for your family and navigating the buying process, choose The Justice Group in Oak Ridge, NC. For over 18 years, this award-winning Guilford County company has offered individualized services to ensure you find the perfect house for your needs and budget. They also believe in contributing to their community and donate to a range of charitable causes. To get started, call (336) 324-5716 or visit the website.