1) Get mortgage pre-approval 

• Meet with a few lender to find out what type of mortgages
  you are qualify for

• Consider paying off small debts to minimize income to debt ratio

• Save up for a down payment ( anywhere from 3% FHA, 10% to 20% of property value)

• Shop around for best suitable lender options    

 

2) Find a Real Estate Professional

• Get a referral from friends, family or colleague for a trustworthy agent or interview your options

• Meet and consult with the agent about your questions
  and concerns

• Explain your needs and expectations before making the decision
  who to represent you.

 

3) Find the Right Property

• Create your criteria list for your ideal property ( school, neighborhood, amenities, price point, distance etc.)

• Shop around and preview available homes that suit your criteria

• Go to Open Houses and compare inventory

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4) Finance the Right Property

• Contact your mortgage broker or lender

• Lender will run a preliminary report or title search to ensure there are no clouds on the title.

• Understand the financing terms – ask the lender for clarification

 

5) Make an Offer

• Have a Licensed Home Inspector check or inspect the property

• Get Title Insurance

• Make your offer contingent upon title clearance

• Place a competitive bid & be prepared for counter-offer

• Keep your credit score stable! Wait to purchase any big-ticket items until long after closing

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6) Closing & Life after the Big Purchase

• Protect your new asset by getting Homeowner's insurance, (flood, disaster and fire)

• Keep original closing documents for tax purpose.

• Set up utility bills in your name

• Implement desired aesthetic changes ( painting, minor construction, and re-flooring)

• Set a move date and hire movers.

• Explore your new neighborhood

• Be sure to recommend your real estate agent if you're happy with his/ her service buyer's guide 

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