Shop Around
For many, this is the best part of buying a new home. There are numerous ways to shop for real estate listings. Online listings and real estate sites such as Zillow and Redfin offer convenience and the ability to shop from anywhere. You can also visit open houses and seek out for sale signs in neighborhoods you’re interested in.
Make an Offer
Once you’ve found a house you’d like to purchase, it’s time to make an offer! Your real estate agent can assist you with making a written offer to the seller. The offer typically includes the purchase price, any contingencies and a proposed closing date.
The seller may or may not respond to your offer with a counteroffer. Negotiations can involve multiple rounds of counteroffers until both parties reach mutually agreeable terms. Your real estate agent will play a critical role in representing your interests and ensuring effective communication between all parties.
Conduct Inspections & Appraisals
Once your offer is accepted, you’ll order an appraisal and inspection. This allows you to evaluate the property’s condition as well as identify any issues that need attention. Many lenders require a home appraisal to assess the value of the property. Both an inspection and appraisal help ensure you’re making a well-informed decision, and most offers are contingent upon inspection of the home.