Your Guide to Buying a Home: Step-by-Step
Whether you’re a first-time homebuyer or it’s been a while since your last purchase, understanding the home-buying process is key to making informed decisions. Just like planning a wedding, buying a home can be an emotional and sometimes stressful experience—but in the end, it’s one of life’s most rewarding milestones.
At Blackacre Properties, we act as your fiduciary, always working in your best interest and guiding you through every step. Our goal is to ensure a smooth, stress-free process while helping you find the perfect home. Below, we’ve laid out the essential steps to get you from home search to closing day.
Step 1: Get Pre-Approved for a Mortgage
Before you even step into your first open house, it’s crucial to get pre-approved for a mortgage. In today’s competitive market, sellers typically won’t consider offers without proof that a buyer has the funds—or financing—secured. A pre-approval letter shows that a lender has reviewed your finances and is willing to offer you a loan up to a certain amount.
✅ Pro Tip: We highly recommend Shant Banosian of Guaranteed Rate, one of our trusted lending partners. We’ve known him personally for over 30 years, and he can often secure pre-approvals—even over the weekend!
Step 2: Define Your Must-Haves and Start Your Home Search
Now that you know your budget, it’s time to narrow down your home search. Consider factors like:
✔️ Location – Commute time, school districts, neighborhood amenities
✔️ Home Type – Single-family, condo, multi-family, townhouse
✔️ Size & Layout – Number of bedrooms/bathrooms, square footage, open vs. traditional floor plan
✔️ Must-Have Features – Garage, backyard, updated kitchen, energy efficiency
Your real estate agent will set up personalized home alerts so you’ll be the first to know when a property that matches your criteria hits the market.
Step 3: Attend Showings and Open Houses
Once you have a list of potential homes, it’s time to tour properties. Your agent will schedule private showings or accompany you to open houses.
What to Look for During a Showing:
🔹 Condition of major systems (roof, HVAC, plumbing, electrical)
🔹 Storage space (closets, basements, garages)
🔹 Signs of structural issues (cracks, water damage, uneven floors)
🔹 Noise levels, traffic, and neighborhood vibe
Take notes, ask questions, and picture yourself living in each space.
Step 4: Make an Offer
Once you’ve found “the one,” your agent will help you submit a competitive offer based on market conditions, recent sales, and the home’s condition.
Key Offer Components:
✔️ Purchase Price – Based on market value and competition
✔️ Earnest Money Deposit – A good-faith deposit that shows your commitment
✔️ Contingencies – Home inspection, financing, and appraisal contingencies
✔️ Closing Timeline – Standard is 30-45 days, but this can be negotiated
If the seller accepts, you’ll move forward with inspections and financing!
Step 5: Schedule a Home Inspection
A home inspection helps uncover potential issues before finalizing the purchase. A licensed inspector will evaluate the home’s structure, electrical, plumbing, heating/cooling, and overall condition.
If issues arise, you may:
✔️ Negotiate repairs or seller credits
✔️ Adjust your offer based on findings
✔️ Walk away if major concerns are uncovered
Step 6: Finalize Your Mortgage & Get an Appraisal
With the home inspection complete, your lender will finalize your loan approval. They’ll also order an appraisal to confirm the home’s value aligns with your purchase price.
At this stage, avoid:
🚫 Making large purchases (cars, furniture, etc.)
🚫 Opening new credit cards or loans
🚫 Changing jobs without discussing with your lender
Any major financial changes could impact your loan approval.
Step 7: Closing Day – Get the Keys to Your New Home!
Once your loan is approved, it’s time for the closing appointment. Here’s what happens:
✅ You’ll review and sign loan documents
✅ The remaining down payment and closing costs will be paid
✅ The home’s title will officially transfer to your name
✅ You’ll receive the keys to your new home! 🎉
Congratulations! You’re now a homeowner.
Ready to Start Your Home Buying Journey?
The home-buying process can feel overwhelming, but with the right team by your side, it doesn’t have to be. At Blackacre Properties, we’re here to guide you every step of the way—from getting pre-approved to handing you the keys.
📩 Contact us today to get started!
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