What are the consecutive steps to the house buying process?

Question

I am begining the process and want to make sure i don't miss anything like Title Ins..and inspections ect and don't do them out of order.

Answer 1

Here are the steps in the home buying process:
1. Prepare for homeownership. Take a first-time homeownership class, save for your down payment, etc.
2. Determine how much you can afford to spend. Take a realistic look at your monthly debts and set personal perameters.
3. Seek a pre-approval. It's important to figure out how much the bank is willing to loan you before you start looking for a home. This will also let you know if you need to save more for a down payment.
4. Decided what type of home you want and need. Once you're pre-approved, you'll know your price range. You can then figure out your wants v/s needs.
5. Shop for a home. Contact a reputable realtor and shop away!
6. Make an offer. After you find the home you'd like, make an offer. Sometimes the seller will want earnest money. That is usually equal to 1% of the prucase price of the house. A purchase offer is legally binding. Protect yourself in case you need to get out of the deal. Include the following contingencies (or conditions) in your offer:
a. Financing
b. Clear Title
c. Clean inspection
d. Appraisal
Basically, this means that if any of the above do not pan out, you can cancel the contract.
7. Get a professional inspection. Do this as soon as your offer has been accepted.
8. Apply for the mortgage loan.
9. Buy homeowner's insurance and get additional inspections. Once your loan has been approved, your contract is in 'escrow'. During this escrow period many things will be going on in order to close the deal. You will obtain homeowner's insurance, the bank will hire a company to do the title search, you might want to get a termite inspection, etc.
10. Close the loan.
I hope this helps. Email me if you have any questions - I've been teaching homebuyer educatinon for years. :-)

Answer 2

Get a Buyer Agent to represent you. That is what we do. We walk you through the process step by step.
We get paid by the seller's agent at closing so our services cost you nothing. If you deal with the listing agent they represent the seller and not you.
Go to: REBAC.com amd jackosullivan.net for more info.
Good Luck