Whether you’re a first-time homebuyer or you’ve purchased properties in the past, the home buying process can be a bit intimidating. A step-by-step look at the process will help you know what to expect.
1) First, talk to a lender about getting pre-qualified so that you can determine your approximate price range. You should also fill out the required forms to be pre-approved for a mortgage. Once you know the amount you’ll be able to borrow, you can shop with confidence.
2) Select a real estate professional to help you find the property that fits your needs. Not sure who to select? Our Customer Care Team can help by matching you with an agent who specializes in your area, price range or type of property.
3) Do your research. Explore communities and neighborhoods to see what different areas offer. Look at all factors, including your commute, the school district, nearby restaurants and stores, the walkability of the area and the types of homes available. Your Edina Realty agent can help explain local market conditions. Plus, sign up for MyEdinaRealty to get alerts on saved searches and properties.
4) Work with your agent to see properties that interest you, and ask him or her to conduct negotiations when you are ready to make an offer. Once your offer is accepted, you’ll need to arrange for a professional inspection of the property.
5) Complete all mortgage underwriting requirements and work with your agent to set a closing date. Attend closing and take ownership of your new home!
Infographic: The home buying process
Equal Housing Lender | Prosperity Home Mortgage, LLC may operate as Prosperity Home Mortgage, LLC dba Edina Realty Mortgage in Minnesota and Wisconsin. ©2024 Prosperity Home Mortgage, LLC dba Edina Realty Mortgage. (877) 275-1762. 3060 Williams Drive, Suite 600, Fairfax, VA 22031. All first mortgage products are provided by Prosperity Home Mortgage, LLC. Not all mortgage products may be available in all areas. Not all borrowers will qualify. NMLS ID #75164 (For licensing information go to: NMLS Consumer Access at http://www.nmlsconsumeraccess.org/) Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act. Licensed by the Delaware State Bank Commissioner. Georgia Residential Mortgage Licensee. Massachusetts Mortgage Lender and Mortgage Broker MC75164. Licensed by the NJ Department of Banking and Insurance. Licensed Mortgage Banker-NYS Department of Financial Services. Rhode Island Licensed Lender. Rhode Island Licensed Loan Broker. Rhode Island Licensed Third-Party Loan Servicer. Also licensed in AK, AL, AR, AZ, CO, CT, DC, FL, ID, IL, IN, KS, KY, LA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NM, NV, OH, OK, OR, PA, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV and WY.