Home Buying Steps

These are the steps that a typical home buyer must take to purchase a home.

1. Get Pre-Approved for a Home Loan.  Unless you have all cash, you must get together with a mortgage lender to pre-qualify for a home loan.  Many first-time homebuyers get excited and begin looking at homes without taking this step.  This is not generally a good idea.  Your loan officer will be able to tell you how much money you can afford to borrow.  With this information we will know the price range of homes to look for.  There's no sense in looking at homes outside of your price range. Be sure to checkout our exclusive article on how to Take Control of Your Credit Score.

2. Look for Your Dream Home.  Once you know what price range of homes you can purchase we can begin looking at areas.  It's best to know what area of town that you prefer.  You also need to decide your basic housing requirements such as number of bedrooms and baths and if you need a garage and/or a basement.  We can provide you with a list of properties that meet your criteria of price range, area, number of bedrooms and baths, etc.  After you begin looking at houses you will begin to notice things about the homes that you like or dislike.  Do you want a big house on a small lot for less maintenance, or do you prefer a large lot for outdoor activities?  Do you want a home that needs some cosmetic improvements and perhaps save some money, or do you want a house that is ready to move in?  You will be faced with many choices while looking at homes.
3. Put an Offer on the Home.  When you find the right house you'll want to make an offer to purchase it right away before anyone else.  A purchase agreement is a contract that we help you to put in writing using a standard form.  You must also submit earnest money with the offer.  Typically you will write a personal check to the Seller's real estate agency.  We will hold that check and send a copy of it along with your purchase offer.  The purchase offer will normally contain contingencies.  Contingencies are "if's" contained in the contract that must be removed before the purchase can be completed.  For example, you will want to do a house inspection.  The purchase contract basically will say that you will purchase the house at the stated price if the inspections are satisfactory.  This contingency protects you from buying a house with hidden defects.  There are other contingencies that are included in the contract that are designed to protect you.  Kline Properties has the expertise to include all of the contingencies needed to protect you.  This is the step where you negotiate the sales price of the property.  This step is very important because you want the best price and terms.  Kline Properties can help you negotiate the best deal.
4. Remove Contingencies.  The next step is to remove the contingencies.  Each contingency is removed in its own way.  House inspections are performed and any defects noted can either be repaired by the seller or they can be accepted by the buyer.  For more details on contingencies and how they are removed go here.
5. Close on the property.  After all contingencies have been removed you go to closing.  At closing you will submit a check for your downpayment and closing costs, sign all of your loan documents and receive a deed for the property.  You become the owner of the property at closing. 

To summarize the steps:

1. Get Pre-Approved for a Home Loan.
2. Look for Your Dream Home.
3. Put an Offer on the Home. 
4. Remove Contingencies. 
5. Close on the property. 

We have tried to give you the basics for each of these steps but there are a lot more details involved in each step.  You can be assured that Kline Properties will take of the details for you.  We do this every day and can handle all the details for you.