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Information for Homebuyers

Buying a house is the largest financial investment you will probably ever make, so you want to make sure you’ve done your homework and are prepared to take that next step. Homeownership has changed and every homebuyer needs to know the new rules. Whether you are looking for a first home or getting back into the market, today’s homebuyers have to be more prepared and armed with information.

  • Step 1

    Decide if you want to buy instead of rent

    Are you buying your first home? Or buying a home for the first time in a long time while? Buying a home is a big decision. Not only is it one of the biggest financial investments you will make in your life, but also it is a commitment to yourself, your family and a new community.

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  • Step 2

    Make a list of what you want in a new home

    Do you have a home of your dreams? Most people have a partial idea of what they truly want in a home. For some, it may be a particular look: a colonial with shutters, a rancher with a skylight or a condo in the city with a gym. Others simply want room to roam: lots of bedrooms, a big kitchen, and a bigger family room, all on a large yard. Yet other first-time buyers are…

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  • Step 3

    Get approved by a lender

    How much money can you afford to pay for a home? How big a monthly payment can you make? How much money will you need to put down? These are all questions that you will need to answer before you can realistically go house hunting.

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  • Step 4

    Make a budget you can live with

    Finding a home is often a compromise between what we want and what we can afford. You have heard the expression, “. Housing is no different. In Step 3, we discussed getting preapproved to find out how much financing you can get. In this chapter, we’ll take a look at deciding how much you really feel comfortable spending. Hopefully by now you already know what your lender says you can afford. However, lender use only…

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  • Step 5

    Find an agent who feels right for you

    Now that you’re pre-approved and know how much you can afford, its time to hire an agent. Agents handle the vast majority of homes that are for sale because most sellers list with one. A single agent often has access to 90 percent or more of the homes currently for sale in an area.

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  • Step 6

    Choose your location and begin your search

    The Internet can be a tremendous help during the house-hunting process. It allows you to preview properties online first, before you try to arrange a showing.

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  • Step 7

    Making an offer to buy the home

    When you find a house that you like and want to buy, it’s time to make an offer. The reason it’s called the “offer” is that, most of the time, you offer to pay less what the seller is asking or you want different terms. Making an offer on a home can seem like a mysterious and intimidating process. And while there can indeed be many ups and downs along the way, most home offers…

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  • Step 8

    How to get a mortgage

    You’ve found the home of your dreams, now you need to buy it! If you are like most people, you need to secure financing in the form of a loan, also known as a mortgage. There are several steps involved in getting a loan.

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  • Step 9

    Go through the disclosure and home inspection

    You’ve made your offer, and the seller has accepted – you’ve reached mutual acceptance. But what comes next, and what do you have to do to close the deal on your home? Find out how it works, in the broad strokes...

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  • Step 10

    Close the deal, move in and become a sustainable homeowner

    Closing, also known as settlement, is the finalization in the sale of a home. The property is transferred from the seller to the buyer, and the seller receives the money from the sale. Find out more about closing the deal!

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