HOMEBUYER: STEP-by-STEP GUIDE

Buyer Decides to Purchase a Home

Buyer Gets Pre-Approved with Lender

Buyer Begins Home Search

Buyer Hires a Real Estate Agent (if applicable)

Buyer Identifies Desired Properties

Buyer Tours Homes

Buyer Chooses a Home

Buyer’s Agent Prepares Offer Documents

Buyer Reviews and Signs Offer

Buyer’s Agent Submits Offer to Listing Agent

Seller Reviews Offer

Seller Accepts, Counters, or Declines

Buyer Reviews Seller Response

Buyer Accepts, Counters, or Walks Away

Contract Executed (Under Contract)

Option Period Begins – Home Inspection Scheduled

Buyer Reviews Inspection Report

Buyer Accepts, Renegotiates, or Terminates

Buyer Submits Executed Contract to Lender

Lender Begins Underwriting Process

Buyer Completes Required Documentation

Buyer Clears Lender Conditions

Home Appraisal Ordered and Completed

Buyer Receives Clear-to-Close

Buyer Schedules Final Walkthrough

Buyer Reviews Closing Disclosure

Buyer Brings Funds to Closing

Buyer Signs Closing Documents

Loan Funds and Transaction is Completed

Buyer Receives Keys