Steps to Purchasing a Home...

Are you ready to make the biggest purchase of your life? If so here are a few steps the average home buyer needs to know:

1. Price Point- go to your local bank and see what your qualifications are for a loan. I suggest you don't exceed this amount because you will have to put cash in at the time of closing to cover the difference. It is better to be able to take the downpayment and start paying off on your loan.

2. Amenities- square footage, acreage, updates, age of home, shop, large kitchen, storage, bonus room, basement, etc. these are things you want your home to have.

3. Location- you must ask yourself if you want to live in the country, city limits, or maybe an home owners association (HOA) neighborhood where you have different regulations and monthly fees.

4. Shop- look for different properties online, through relators, or by driving around.

Once you have found your dream home it is now time to go through the process of making it yours:

1. Make an offer- the original offer may not be taken by the owner and you must be willing to accept that and either move on to another or raise your offer. The negotiating process can go back and forth for a while, depending on how easy the seller is to work with. When you make an offer contracts have to be typed and signed by the seller and potential buyer. This process can go fast or slow.

2. Due-diligence period- this is the time between the offer being accepted and the closing date. During this time a home inspection must be passed and the home must appraise out, meaning if you are trying to purchase the home for $149,900 an appraiser must come out and calculate the value of the home. If the house doesn't appraise for 149,900 then the bank will not give you a loan for this amount. If this occurs you must be willing you put cash down at the time of closing to make up for the extra cost or try to counter back with a lower offer.

3. Closing- after everything has been legally passed off it is now time for the buyer and seller to make a trip to an attorneys office to sign papers and make the house officially yours. For a lack of better words many say this is the day you sign your life away, but for me I see it very exciting and an accomplishment of hard work.

4. Move in- you have now completed the long and stressful trip of purchasing a home. It is now time to move in and celebrate!

I hope these many steps of purchasing a home will help you in the future when you decide to make the biggest decision of your life. As an intern I love seeing the buyers and sellers face at closing. It is a sense of hard work and accomplishment.