Steps to Buying a Home
Get Ready to Make An Offer
Step 1
Get your finances in order
Determine your budget by using an online mortgage calculator and talking to potential lenders. Consider how much cash you have to cover the down payment (typically 3-20% of the home price) and closing costs (typically 2-5% of the home price), and what kind of ongoing monthly payment you can afford.
Step 2
Get pre-approved by a mortgage lender
Compare quotes from various lenders and ask for a “fully-underwritten” pre-approval, which is stronger than a standard pre-approval and makes your home offer more competitive.
Step 3
Conduct your home search
Use online platforms like Zillow and Realtor.com to find homes for sale. Attend open houses, and use our free resource “How to Tour Homes Without an Agent” for guidance on setting up individual showings by contacting the listing agent directly.
Step 6
Finalize the contracts
Once finalized, the house is reserved for you under the terms of the contract until closing (often 30-45 days later).
Step 5
Negotiate the terms of your purchase
WiseBuy’s Realtor® and attorney will negotiate on your behalf and ensure you feel comfortable and supported throughout the contract negotiation process.
Step 4
Submit an Offer
WiseBuy’s Realtor® and attorney guides you on all offer terms, including price, earnest money deposit, contingencies, and other contract terms.
Make an Offer
Make an Offer
Step 4
Submit an Offer
WiseBuy’s Realtor® and attorney guides you on all offer terms, including price, earnest money deposit, contingencies, and other contract terms.
Step 5
Negotiate the terms of your purchase
WiseBuy’s Realtor® and attorney will negotiate on your behalf and ensure you feel comfortable and supported throughout the contract negotiation process.
Step 6
Finalize the contracts
Once finalized, the house is reserved for you under the terms of the contract until closing (often 30-45 days later).
Prepare for Closing
Step 7
Finalize your loan
Determine your budget by using an online mortgage calculator and talking to potential lenders. Consider how much cash you have to cover the down payment (typically 3-20% of the home price) and closing costs (typically 2-5% of the home price), and what kind of ongoing monthly payment you can afford.
Step 8
Obtain a home inspection
Find a home inspector through online reviews or referrals, and hire them to inspect the property’s condition and inform you of any issues.
Step 9
Obtain homeowner's insurance
Compare quotes from homeowners insurers and obtain homeowners insurance that will protect you in the event of future damage to the property.
Close the Purchase!
Step 11
Title and escrow
Your lender will help obtain a title report and title insurance to protect against any future disputes over the property’s ownership, and arrange an escrow agent to serve as a neutral third party who can hold your earnest money deposit and coordinate the closing mechanics.
Step 10
Home appraisal
Your lender will arrange for an appraiser to provide their professional opinion on the fair market value of the property to ensure it supports the loan amount.
Step 10
Home appraisal
Your lender will arrange for an appraiser to provide their professional opinion on the fair market value of the property to ensure it supports the loan amount.
Step 11
Title and escrow
Your lender will help obtain a title report and title insurance to protect against any future disputes over the property’s ownership, and arrange an escrow agent to serve as a neutral third party who can hold your earnest money deposit and coordinate the closing mechanics.
Close the Purchase!
