Thinking of buying a home in Wake Forest or Raleigh? Make sure you know what to expect—whether you’re a first-time home buyer or a real estate aficionado. Here are all the steps to buying a home that you should know.
Phase 1: Starting Your Home Search
Find an Agent
Get recommendations, read reviews, do some research, and find an agent in your location.
Meet with lenders to explore loan options, review your finances, and find out how much you qualify for.
Discuss Your Needs
Meet with your agent to discuss your wants and needs in your new home and location.
Take pictures, make notes, discuss with your agent, and have fun touring homes!
Phase 2: You Found the Perfect Home
Make an Offer
With your agent, review recently sold homes in the area (comparables) to determine a competitive offer price.
The seller has three choices: accept your offer, reject your offer, or issue a counter-offer. You may need to counter a few times to reach an agreement that's acceptable to both parties.
Finalize Your Financing
Next, it's time to work with your lender to submit any necessary paperwork to get your financing secured.
Make sure you're not walking into a maintenance disaster by having a thorough home inspection completed, detailing any issues or potential issues.
Resolve Any Issues
Did something come up in the home inspection? Ask for repairs, a credit, or a price reduction... or walk away with no obligations.
Phase 3: The Closing Process
Conduct a Title Search
Make sure no one else can legally claim your property with a title search and title insurance
Obtain Funds for Closing
Once your loan is finalized, you'll be needing a very large bank check for your down payment.
Meet at the Close
Meet with your agent, attorney, and the seller's agent and attorney to sign all the final paperwork.
Get the Keys!
Dot your last i, cross your last t, and get the keys to your beautiful new home! Congratulations!
Still Have Questions or Ready to Get Started?
If you're thinking of buying a home in Raleigh, then it's time to contact Pate Realty Group. We're your local real estate experts. Not only can we answer all your buying questions, we can help connect you with the resources you need to make an informed decision so you're sure to find your dream home at just the right price. Take a look at some of the home buying resources we have to offer.