The Home Buying Process in 9 Simple Steps

by Bob Lucido Team

Since June is National Homeownership Month, we figured it’s the perfect opportunity to talk about the homebuying process.

Deciding how you'll navigate your journey to homeownership is equally critical to the agent you work with. As someone who's been in your spot before, we’re familiar with what's cycling through your mind, and as real estate agents, we’ve mastered the ins and outs of the buying process. When you work with a Lucido agent, you'll benefit from our team’s experience and resources. Together we'll work toward making sound, smart decisions for your future.

Our role as real estate agents is to guide you through the entire process - from first planning out your timeline to getting your new keys (and even after that, too!).

THE HOMEBUYING PROCESS

When you work with a Lucido agent, we’ll start with a buyer consultation to get to know you and what you’re looking for. We take a personalized approach, so the process will be tailored to you based on your unique situation, timeline, and needs.

1. SELECT A REAL ESTATE AGENT
Discuss the type of home you are looking for, including style, price, and location.

THE BUYER’S ADVANTAGE: As the home buyer, your agent’s commission is paid by the seller of the homes in almost all circumstances. This means your agent representation costs you nothing!

2 - GET PRE-APPROVED

You will need pay stubs, W2’s, and bank statements. Knowing what you can afford is critical to a successful home shopping experience.

3 - SEARCH FOR HOMES

This is the fun part! You will analyze your needs in a buyer consultation, select, and view properties with your agent.

ADVANCED SEARCH: Not all real estate websites are the same. Your Lucido Agent has
tools and systems to ensure you see every available home that meets your criteria.

4 - WRITE AN OFFER TO PURCHASE

Your agent will prepare the offer based on the price and terms you choose.

THE CONTRACT: In most cases the contract provides you with a timeline to obtain financing, as well as time to inspect the physical condition of the home. Your agent will inform you of all your rights and responsibilities related to the contract.

5 - NEGOTIATE TERMS AND CONTRACT

It may take a few tries to get it just right, but hang in there. You’re on your way!

6 - RATIFY CONTRACT

You and the seller have agreed to the price and terms. The home is effectively held until closing.

7 - FINAL DETAILS

Perform due diligence, order the appraisal, conduct an inspection, and review terms with the lender.

PREPARING FOR CLOSING: You will be finalizing your loan, reviewing documents, and discussing the findings from the inspection. Your agent will be managing this entire process for you.

8 - CLOSING

This is the transfer of funds and ownership. A title company or an attorney typically acts as an independent third party to facilitate closing.

9 - CELEBRATE!

You are now a homeowner!