Buying A Home 101

So you’re thinking of buying a home, but whether you've spent years saving and preparing to buy a home, or are unsure if you can afford it, the questions surrounding a house purchase can feel endless. Click on the icons below to learn more about each of the steps that will mark the path to your new front door.

DECIDING TO BUY

HIRING AN AGENT

FINANCING YOUR HOME

GOING SHOPPING

MAKING AN OFFER

INSPECTIONS & APPRAISAL

SETTLEMENT

Settlement
Finally, it’s time to close on your new home but before the actual day of closing there are a few other things that have to happen. Your settlement company will direct all the activities from getting lien letters on the property to preparing the closing paperwork. The title company will research the complete recorded history of the property, to insure that the title is free and clear of encumbrances by the date of closing and that all new encumbrances are properly added to the title. You’ll want to do your final walk-though on the property and get the utilities changed into your name before closing. Don’t worry, you won’t be on your own through this process, a good agent will be there to remind you of everything that is going on and anything you need to take care of.

Once all details have been taken care of, the settlement company will send you a closing statement, also called a HUD-1. This shows the costs and credits to both the buyer and seller. You should review it carefully. The bottom line will show the exact amount you will need to bring to closing. You’ll need to bring a certified check in the total amount and your driver’s license to closing. Be prepared to sign lots of documents that the closing agent will review at closing and remember to ask any questions as you go along. Then you will get the keys and become the official owner of your new home.

Congratulations, You're a homeowner!