Before you venture out on your own to purchase a home you should consider developing a plan of action. The following steps should be helpful in the creation of that plan:

Selecting a Buyer Agent

You will want to have a thorough understanding of agency disclosure laws, agent responsibilities, and deceptions in the real estate industry.

 

Identifying Basic Needs

Develop a realistic plan of basic needs versus wants. Trust your agent to help you determine if the needs can be met within your budget for your home purchase.

Apply for the Home Loan

Having a pre-approved loan gives you more bargaining power. Ask your buyer agent to assist you with the home loan shopping.

Searching for the Home

Be ready to devote considerable time and energy to the home search. Don't drag out the search, set a time schedule and meet it.

Making the Offer

Learn all you can about the property, neighborhood, and the market. If you want a good deal, be willing to stop the negotiation and go to your second choice. Understand the real estate contract.

Inspections

You are making one of the major purchases of your life. Have the home inspected by a certified inspector. Be sure that the inspector carries a sufficient errors and omission insurance.

Title Insurance

If you don't understand the "Commitment to Insure" document, seek legal assistance.

Final Walk-Through

Visit the home just before closing and be assured that all appliances and equipment are in working order and that movers have not damaged the home.

Closing on the Home

Take a cashiers check in the amount of the total closing costs and be prepared to sign many documents. Do a good review of the contract and closing statement to ensure that you are not overcharged. Don't overlook any of the details.