Coldwell Banker Real Estate Now · (731) 668-1777 · Each office is independently owned and operated.

 

9 Steps To Purchasing A Home

The homebuying process can seem complicated, but if you take things step-by-step, you will soon be holding the keys to your own home!

The nine steps to buying a home

  1. Figure out how much you can afford
  2. Know your rights
  3. Shop for a loan
  4. Learn about homebuying programs
  5. Shop for a home
  6. Make an offer
  7. Get a home inspection
  8. Shop for homeowners insurance
  9. Sign papers

Step 1: Figure out how much you can afford

What you can afford depends on your income, credit rating, current monthly expenses, downpayment and the interest rate. The calculators below can help, but it is best to visit a lender to find out for sure.

Need help with your downpayment and/or closing costs?

A housing counselor can help you figure out how to manage and pay off your debt, and start saving for that downpayment!

Step 2: Know your rights

Step 3: Shop for a loan

Save money by doing your homework. Talk to several lenders, compare costs and interest rates, negotiate to get a better deal. Consider getting pre-approved for a loan.

Step 4: Learn about homebuying programs

FHA loan programs offer lower downpayments and are a good option for first-time homebuyers.

HUD's special homebuying programs

Step 5: Shop for a home

If you choose a home in a neighborhood with a Home Owners Association (HOA), be sure to request a copy of the HOA packet, so you can review before closing.

Step 6: Make an offer

Discuss the process with your real estate agent. If the seller counters your offer, you may need to negotiate until you both agree to the terms of the sale.

Step 7: Get a home inspection

Make your offer contingent on a home inspection. An inspection will tell you about the condition of the home, and can help you avoid buying a home that needs major repairs.

Step 8: Shop for homeowners insurance

Lenders require that you have homeowners insurance. Be sure to shop around.

Step 9: Sign papers

You're finally ready to go to "settlement" or "closing." Be sure to read everything before you sign!

Coldwell Banker Real Estate Now is a registered trademark licensed to Coldwell Banker Real Estate Now. Coldwell Banker Real Estate Now is licensed in the State of Tennessee. Each Coldwell Banker Real Estate Now office is independently owned and operated.

Pam Blasingame is a Realtor® with Coldwell Banker Real Estate Now, 327 North Parkway, Jackson TN 38305, (731) 668-1777.

The data relating to real estate for sale on this website comes in part from the IDX Program of the Central West Tennessee Association of Realtors® Multiple Listing Service. Copyright 2015 MLSCWTAR. All Rights Reserved. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

The accuracy of all information, regardless of source, including but not limited to square footages, lot sizes, or school districts, is deemed reliable but is not guaranteed and should be independently verified through personal inspection and/or with the appropriate professionals. The information contained within this website is provided solely for informational purposes and does not constitute an offer to sell, rent, or advertise real estate outside the State of Tennessee. The owner is not making any warranties or representations concerning any of the properties listed including their availability.

If you are NOT represented by a real estate agent or broker, I would love the opportunity to help you with your real estate services. Please contact me regarding ANY of the properties listed on this website. If you ARE represented by a real estate agent or broker, please contact them regarding any property you locate on this website. It is not my intention to solicit offerings from other agents or brokers.

The Fair Housing Act prohibits discrimination in the sale, lease, or rental of housing, or making housing otherwise unavailable because of race, color, religion, sex, national origin, familial status, or disability.

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Pam Blasingame - Jackson TN Realtor® - Coldwell Banker Real Estate Now